Storage Unit Insurance – What Does it Cover?

Whether it’s seasonal decor, family heirlooms or for a temporary move, sometimes you need extra room for storage. A storage unit is a great alternative. Even though your belongings are not at your home, they are still important and should be properly protected.  

How much is covered under storage unit insurance?  

Rural Mutual’s home insurance and renters insurance policies provide automatic coverage for personal property while in a self-storage facility. However, the personal property must be covered under the homeowners’ or renters base policy to also be covered while in storage. The insured receives 10% coverage amount of their homeowners’ personal property limit or $1,000 (whichever is greater), for their personal property in a self-storage facility. Personal property coverage has a limit, which is the maximum amount the insurer will pay to help repair or replace your belongings after a covered loss. If the value of your stored items is greater than your coverage limit, you can purchase higher limits by an endorsement to the home policy.  

For Example… 

John Jones has $100,000 of personal property coverage for the home where he lives. John has a storage unit that contains Christmas decorations and various items he has inherited from relatives throughout the years. John automatically gets 10% of his personal property limit of $100,000 ($10,000) to extend to the items he has in the storage unit that he rents. If John would have $20,000 of items in his storage unit, he can discuss with his Rural Mutual agent about increasing the limit for his items in storage.  

What losses are covered? 

All losses that would be covered for the personal property at or in the insured’s residence are extended to the personal property in the self-storage facility. It’s best to check your policy and discuss with your local agent what losses are covered specifically as each policy is tailored to each individual’s needs.  

Your storage unit may contain valuable property, make sure that it is properly protected. Contact a local Rural Mutual Insurance agent to learn more.