Should I Purchase Storage Insurance?

If you’re new to the world of self-storage, you probably have a lot of questions. Not just about the different types of storage units or the best way to store your belongings, but about the 'extra' things like storage insurance. One of the most common questions people have is whether or not they need storage insurance.

In short, the answer is yes – you should get storage insurance. It's not only helpful and usually affordable, but it's also a requirement at most storage facilities, including U-Haul. This guide will give you all the details you need to make an informed decision about storage insurance, including costs, coverage, importance, and more.

Why is Storage Insurance Important?

Storage insurance is important for the same reason homeowners, renters, and auto insurance is important. These are valuable investments, and it would be devastating to lose them without any protection. Insurance provides coverage up to a certain amount to help you recover the value in case of a natural disaster or accident.

Storage insurance works the same way. For a low cost, your stored items are covered should something unfortunate happen. Since many people store items that hold significant personal or financial value, storage insurance offers peace of mind.

What Does Storage Insurance Cover?

Storage insurance covers a wide variety of mishaps. But ultimately, coverage varies depending on the policy and sometimes the location. In most cases, you'll be protected from accidents like fires, water damage, theft, and vandalism.

What Isn’t Covered by Storage Insurance?

Not all storage insurance providers offer protection against natural disasters such as floods, earthquakes, and mudslides. However, Safestor does cover these events, ensuring your belongings are safe when stored with U-Haul. It's always a good idea to review your policy to know exactly what is covered and avoid any surprises.

Where Can I Purchase Storage Insurance?

Storage insurance can be bought through your chosen storage company, an independent provider, or via your renters or homeowners insurance. In the case of U-Haul, you can choose our in-house option (Safestor), which you can conveniently update your coverage amount any time online. You can choose to use your own insurance when renting U-Haul self-storage, but you will need to provide proof of insurance when it’s time to move in to your storage unit.

Some renters/homeowners insurance policies cover storage units, but keep in mind that coverage limits are generally lower for items in storage versus items in your home. It’s best to check with your insurance provider to explore your options. If you want the most coverage possible, consider in-house storage insurance, like Safestor.

How Much Does Storage Insurance Cost?

Of course, the biggest question many have when it comes to storage insurance is the cost. The cost depends on several factors, such your provider and the amount of coverage you prefer. Safestor, for example, starts at an affordable $8.95 per month for $1,000 worth of coverage with higher coverage options available.

Do I Need Storage Insurance for a Car?

Cars in storage are covered by your auto insurance policy. Storage insurance doesn’t cover vehicles in car storage. To store your vehicle at a U-Haul facility, you’ll need up-to-date registration and proof of auto insurance.

Other Ways to Protect Your Belongings

• Store Like a Pro – One of the simplest ways to keep your belongings safe in storage is by storing them properly. This means stacking boxes from heaviest to lightest to prevent crushing, keeping an inventory to avoid misplacing items, and using anti-static packing materials for electronics.
• Choose the Right Storage Unit – There are various types of storage units to choose from, such as outdoor/drive-up units and climate-controlled units. Selecting the best unit for your needs is essential for keeping your items in good condition.
• Look for Top-Tier Security – Choosing a storage facility that offers state-of-the-art security features will go a long way toward preventing theft and vandalism. U-Haul storage facilities offer MAX security. Learn more about our security features.
• Consider Floater Insurance for Valuables – If you're thinking about storing valuable items like jewelry, antiques, or collectibles that are worth more than what your insurance covers, you might want to get extra insurance called floater insurance. You can get this from an outside insurance company.

Safely Store Your Belongings at U-Haul

U-Haul offers in-house storage insurance at a low cost so you can store your belongings with peace of mind. We also accept homeowners and renters insurance for added flexibility. When you’re ready to start your storage journey, find a clean, dry, and secure U-Haul storage facility near you!