Does renters insurance cover personal property in a storage unit?
Yes — renters insurance typically covers any personal property stored in a storage unit, up to 10% of your total personal property limit, with some exclusions. Depending on the type and value of the property you're storing, you might also need to add an endorsement or opt to purchase storage unit insurance from your self-storage supplier.
Read on to learn about the nuances of renters insurance and storage units.
Key Takeaways:
- Renters insurance usually covers up to 10% of your total personal property coverage amount for items outside the house
- Consider additional storage unit insurance if your renters policy excludes risks like fire or if your stored items exceed coverage limits
- Some storage facilities may require added insurance for your items' protection
Renters coverage and storage units
Renters insurance typically includes "off-premises coverage", which means your belongings are protected not only within your home but also when located elsewhere, such as in a storage unit. However, most policies limit coverage for belongings outside of your residence to a set dollar value or to 10% of your total personal property coverage.
Example: If your policy covers $25,000 of personal property, items outside your home are covered up to $2,500. So, if everything in your storage unit is lost, you'd get up to $2,500 minus your deductible.
Renters insurance can cover your personal property away from your home, including storage units, but it's usually an endorsement meaning it's an extra coverage you need to ask about. This coverage on your renters policy usually covers only 10% of your total personal property coverage. Meaning if your policy has 50k in personal property coverage, only 5k of off-premises property would be covered.
-Hunter Black — licensed insurance professional for The Zebra
- Coverage Limits: Does your policy only cover theft from storage units? Many policies limit non-residence coverage to theft only, excluding fire, vandalism, or other perils.
- Liability Sub-Limit: Insurance companies may cap coverage for valuable items unless you add a special endorsement. Check if your valuable items are adequately covered.
| 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 |
If you’re storing items like the above, speak to your insurance company to confirm coverage. Depending on the insurance company's policies, you might be able to add an endorsement for off-premises coverage. Otherwise, you should explore the specific storage coverage below.
Options if your valuables exceed the off-premises limit:
1. Raise your personal property coverage limit. This raises your off-premises coverage limit which is often a percentage of your overall personal property coverage limit.
2. Add an endorsement for off-premises coverage. This may raise your premium but could be worthwhile for valuable items.
3. Get storage unit insurance. This is offered and sometimes required by storage companies.
The Zebra's recommendation for storage insurance
Lemonade provides affordable renters policies starting at only $5 per month. If you reside in California, Connecticut, Florida, New York or Virginia, they will cover your storage unit property at 10% of your policy's personal property coverage limit (up to $1,000). In the other 23 states they cover, the amount is limited to $1,000.
Lemonade also advises policyholders to document all items in storage with photos and details for potential future claims. See below for more specific details about Lemonade's coverage for storage units.
| Coverage Aspect | Lemonade's Approach |
|---|---|
| Basic Coverage | Lemonade's renters insurance provides coverage for items in storage units, but it might not cover their full value. |
| Coverage Limitations |
- NY, CA, CT, VA, FL: Coverage is up to 10% of the policy's personal property coverage or $1,000, whichever is higher. - Other states: The coverage limit is strictly $1,000. |
| Perils Covered | Items in storage are protected against the same risks as items at home, such as fire, theft, vandalism, and certain types of water damage. |
| Moving or Renovating | If you're moving and your Lemonade Renters policy for the previous address is still active, it may cover items in storage during the transition. |
Of course, The Zebra partners with a number of renters insurance companies. Our in-house agents would be happy to talk you through your options. Feel free to call us at 1.888.255.4364 for assistance.Â
Do all storage units require insurance?
No — not all storage units will require additional storage unit insurance. However, many do. Here's why: requiring storage unit insurance as a rental condition not only ensures the protection of the renter's belongings in case of damage or loss but also clarifies responsibility for accidents or damages, reducing potential disputes between the renter and the storage company.
CubeSmart, IStorage, Life Storage, Simply Self Storage, Extra Space Storage, Public Storage, and U-Haul all require insurance. However, the required coverage can vary from company to company as well as from one sized unit to another.
Do storage companies offer insurance?
Yes — many major storage companies offer their own protection policies. These add-on plans function much like the personal property portion of a home or renters insurance policy and protect your belongings against predefined perils. Most plans will have a set dollar amount they will cover, typically somewhere in the realm of $25,000.
Yes — you should buy the storage facilities insurance because they usually provide 100% protection to your items on a 'scheduled' basis meaning the specific items are listed/covered. All storage facilities are different so make sure you read and make sure they cover all of your belongings.
-Hunter Black — licensed insurance professional for The Zebra
Should I purchase storage unit insurance?
Should you buy additional storage unit insurance? It depends. If your renters insurance doesn't fully cover your stored possessions, it might be worth it. Make sure your policy doesn't exclude risks like fire and that the value of your stored items doesn't exceed your personal property limit or sub-limits.
Keep in mind, some storage facilities might require you to purchase extra insurance. Here are a few helpful questions to consider when deciding if you need additional storage coverage:
- Does your renters insurance cover the risks you're concerned about?
- Is the value of your stored belongings within your current coverage limits?
- Does the storage facility mandate extra insurance?
What perils are covered?
Some insurance policies limit off-residence coverage to theft only. If your storage unit burns down, floods, or is otherwise impacted by something other than theft, you would be left without coverage.
Look for storage facility insurance that covers:
- WaterÂ
- FloodÂ
- Fire
- Smoke
- HailÂ
- Lightning
- VandalismÂ
- Theft
- Vermin/insect infestationÂ
- Fungus/mold Â
- Business property coverageÂ
Before buying storage coverage, check the policy details to see what is and is not covered. If your contents will be vulnerable, consider an additional storage policy.
How much coverage do you need?
If your off-premises protection is limited to 10% — or an even lower dollar amount — of your total personal property amount, weigh how much storage insurance you need to fill in your coverage gap. For example, your personal property is limited to $5,000 for off-residence contents. If you have $15,000 of personal belongings in your storage unit, you should buy $10,000 worth of coverage.
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What is not covered by storage insurance?
Check the policy details of your storage coverage. Some policies will exclude coverage of particularly valuable items such as deeds, money, jewelry, watches, furs, and other valuable items. For these items, consider adding an additional endorsement to your renters policy.
Storage tips and additional resources
Explore the following tips to keep your personal belongings safe in storage units.
Opt for climate-controlled units and check for gaps/cracks in the floor. Look for signs of pests such as rodent droppings and visible insects. Check out the locks (disc locks tend to offer more security), ensure the facility is well-lit, and ask about security measures such as on-site personnel and security cameras.
Avoid storing jewelry, important paperwork, furs, cash, etc. in storage as they are generally excluded from your storage coverage.
Pallets encourage ventilation and protect your items from contaminants on the ground. Avoid plastic bags because they can trap moisture causing mold or mildew growth within the bags.
Catalog the items in your storage unit. This will keep your personal items organized and help expedite claims. See our guide on how to make a home inventory for a list of apps and additional tips that can make the process easier.
Does renters insurance cover storage units FAQs
Learn more about renters insurance:
- Renters Personal Property Insurance
- Does Renters Insurance Cover Natural Disasters?
- Renters Insurance for College Students
- Renters Insurance and Pets
- Does Renters Insurance Cover Hurricane Damage?
- Flood Insurance for Renters
- Renters Insurance for Seniors
- Does Renters Insurance Cover Bed Bugs?
- Does Renters Insurance Cover Mold?
- Renters Insurance with Roommates
About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
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- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.