Whether you are between homes, inherited additional personal property, or just have acquired many items over the years, it is common practice to use a self-storage facility to store your belongings. Although your property is locked up tight, there is always a possibility of theft or fire, so do you know how your coverage policy owners would respond to a loss of your content is stored in a professional storage facility?
A policy of standard proprietary extend 10 percent of your personal property limit to personal property in the storage unit. For example, if your limit to personal property (cover C on a standard policy) is $ 0,000, you have $ 20,000 of coverage for contents housed in the professional storage unit.
But if you have $ 25,000 of property in the repository? I'm so glad you asked! You can buy an approval called "increasing the amount of insurance for personal property located in a Self-Storage facility" to address the additional content stored. In the example above, you would need to purchase coverage $ 5,000 to ensure every $ 25,000 of your property is covered ($ 20,000 provided by your policy + $ 5,000 provided by the approval = $ 25,000).
Some insurance companies offer owners of improved policies that extend a higher percentage of personal property line. so in our example above, if your enhanced political equivalent coverage to 25 percent of your personal property limit of $ 0,000 expanded, you will automatically receive $ 5,000 cover, so you'd have more than enough coverage for your personal property in the storage unit.
as always, I encourage you to consult your independent insurance agent to help with your coverage needs . Do not get locked out of the cover of the right amount!
The benefits described here are in the most general terms, and subject to the conditions and actual policy exclusions. For the actual wording cover, conditions and exclusions, see the policy or contact your agent.
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