5 Reasons To Get Insurance For Your Stored Items While You're On A Long Trip

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Perhaps you're finally taking that backpacking trip around Europe you've put off since college, or you need to stay with family members recovering from a serious illness. Moving your belongings into storage can save you money over paying rent on a place you're not using, but you need to take extra precautions to make sure your items are still in great shape when you return. Learn five important reasons you need insurance coverage for the important furnishings and documents you're storing as you travel.

Storage is Not Always Included

Some self storage companies include free insurance with every unit rental, or offer it as an optional service for an extra fee. Don't assume that the insurance policy for the business will pay for damages done to your belongings, even in cases of arson or theft. You're still responsible for carrying protection in the form of a cash reimbursement plan unless the company informs you otherwise in a signed contract. Make sure every detail of any insurance offered by the self storage business is outlined in full and on paper before you pay for it.

Off-site Items are Treated Differently

While the company's insurance policy doesn't cover the customer's items automatically, neither does your homeowner's insurance. Many renter's and homeowner's policies do offer some reimbursement if the belongings are damaged or destroyed while in storage. However, you need to check your policy before assuming it's a part of your package. Just as many companies decline to include off-site furnishings as those that chose to include them. There are also limits to almost every level of protection offered by these types of plans, so make sure to take out a separate policy when you're storing stuff worth more than a few hundred bucks.

Natural Disasters Come with Complications

You've checked your homeowner's policy and found that your belongings are insured no matter where they're stored. Did you find any exclusions regarding natural disasters? Many insurance companies opt out of paying when your self storage unit is damaged by

• Flooding, the most commonly excluded form of natural damage
• Storms, with water and wind effects
• Fire, especially wildfires in areas prone to them
• Sinkholes or other relatively rare disasters.

If the entire storage area is affected and declared a disaster zone, you may not be able to reach your items or contact the owners of the business for some time. Insurance and a full inventory allows you to replace everything as quickly as possible in these cases.

Replacement Policies Vary

Take a good look at any insurance you've already got or plan to take out in the future. Not all reimbursement or replacement plans are equal in what they offer. Watch out for policies only covering the depreciated value of each item, which makes it hard to afford replacements. Full replacement plans give you enough money to buy a similar or identical item in today's marketplace, instead of depending on the cost from the past or a lesser amount due to depreciation.

Accidents can Always Happen

Finally, don't assume that picking a highly secure and monitored self storage facility makes insurance unnecessary. It's always possible for an earthquake, determine burglar, or random comet to ruin the most well-maintained buildings in an unexpected emergency. Carrying insurance doesn't cost very much per month and gives you a lot of peace of mind, whether it's from the company you already use for other policies or the self storage business.

Make sure you bring all the details for your policy on your trip so you don't miss a payment. If you get a message from the storage company about damage to your items, you'll want to be able to make an immediate claim as well without waiting to return home.

Contact a local self storage company, such as Arthur's Self Storage, for more information and to find out if they cover their units. 

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4 November 2015