Does Homeowners Insurance Cover Storage Units?
Homeowners insurance typically provides up to 10% of your personal property coverage for stored items, often limited to theft only, so additional storage unit insurance may be needed.
Does homeowners insurance cover items in a storage unit?
The typical homeowners insurance policy offers limited coverage for personal items housed in a storage unit. Worldwide personal property coverage is limited to 10% of your total contents coverage.
Homeowners insurance may be limited to theft-only coverage. If this isn’t sufficient, consider purchasing coverage from your storage facility. Check your homeowners insurance policy to confirm the extent of your storage unit coverage.
Should I buy storage unit insurance?Â
If you want additional peace of mind for your items, yes. Storage unit insurance is a good idea if gaps exist in your personal property coverage. The three primary considerations for storage unit insurance are coverage levels, the types of damage you’re covered against, and limitations for high-value items. Below are details and questions worth considering when deciding whether to purchase additional storage coverage.
Home insurance and storage units
There are three primary considerations regarding homeowners insurance and storage units: off-premises coverage limits, perils covered by the policy, and sub-limits on high-value items.
✅ Coverage limits on off-premises contents
Homeowners insurance covers personal property anywhere in the world, but off-premises coverage is usually capped at 10% of your total personal property limit. For example, with $125,000 in coverage, items outside your home are only insured up to $12,500 (minus your deductible).
To increase protection, you can raise your policy limit — which also raises your premium — or buy extra coverage through a storage facility.
✅ Theft-only limitations
Confirm whether your coverage is limited to theft-only when the incident occurs outside of the insured property. If this limitation applies to your policy, consider purchasing extra coverage offered by your storage facility. Otherwise, any damage that occurs in transit or via flood, animals, or mold will not be covered.
Keep in mind potential payout limits on high-value items. Below are some common limitations for items such as coins, furs, jewelry, or watches. Insurance companies often cap coverage on these items unless you add — and pay for — an endorsement. If you plan on storing high-value items in a self-storage unit, consult your insurance company. High-value items generally aren’t covered by storage-unit insurance because of the risk.
| Sub-limit | Property | Limitations |
|---|---|---|
| $200 | Money, coins, gold | Â |
| $1,500 | Jewelry, watches, furs | Theft only |
| $1,500 | Watercraft, trailers | Theft only |
| $2,500 | Firearms | Â |
| $2,500 | Silverware | Â |
| $2,500 | Business property | On-premises |
| $500 | Business property | Off-premises |
| Varies | Electronics | Â |
Let us help you find the best policy for your home.
What perils are covered?
Review your storage unit insurance policy information to see what is covered. Some insurance policies will limit your off-residence coverage to theft only. This means that if your storage unit burns, floods, or is impacted by something other than theft, you would not retain coverage.Â
Look for a storage facility that covers:
- WaterÂ
- FloodÂ
- Fire
- Smoke
- HailÂ
- Lightning
- VandalismÂ
- Theft
- Vermin/bug infestationÂ
- Fungus/mold Â
- Business property coverageÂ
Before purchasing additional insurance coverage, compare your storage and homeowners for vulnerabilities. If your contents will be placed at risk, consider an additional storage policy.
How much coverage do you need?
If you’re only allotted 10% of your total personal property amount, consider whether it will sufficiently insure the belongings you're storing. If it’s not enough, consider buying storage insurance to make up the difference.Â
What is not covered by storage insurance?
Check the policy details of your storage coverage. Some storage companies will exclude coverage to high-value items such as cash, deeds, money, jewelry, watches, furs, and other valuable items. For these items, consider adding an additional endorsement to your homeowners policy or not storing anything of exorbitant value in your self-storage unit.
Zebra Tips
- Avoid plastic bags: items stored without proper ventilation are more likely to develop mildew. Avoid plastic bags.Â
- Do not store personal or high-value information: keep deeds, cash, jewelry, and other high-value or irreplaceable items at your primary residence.
- Store items on a pallet: to ensure ventilation and to protect your items from containments on the ground, store your items on a pallet.
- Keep an inventory: record items that are stored in your unit. This will not only keep you organized but you in the event of a claim.
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Homeowners insurance and cover storage units FAQs:
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