If you are looking for an indoor self storage spot, one of the most important things that you need to check on is whether the goods stored there are insured or not. After all, misfortunes do occur. The place for safekeeping could catch fire, or get damaged because of some other reasons. This means if the goods are not duly insured, you are at risk of losing them. The good news is that most companies offer insurance for the goods stored, but whether you should purchase the insurance plan or not will depend upon what you are storing, for how long, and whether your items are valuable enough.
Insurance Is Not Automatically Applied To Your Belongings
The first thing that is very important for you to understand is that insurance in an indoor self storage is not automatic. Just because you are storing your goods there, it does not mean that your goods are insured for the period you use it for storing. You have to purchase the insurance plan separately. However, these days, you may find some companies that include the insurance plan as part of their policy, though this offer it is not free of cost. The amount of insurance premium is included in your rental. However, such instances are very rare because it eventually increases the rate to a much higher amount, which makes it difficult for the companies to defeat the competition in the market. Every place for safekeeping facility wants to offer the lowest rate possible in order to attract more customers and that is the reason why they prefer not to include the price of insurance in the rental they charge for use of cargo space facilities.
Getting Your Goods Insured Is Not Mandatory
Another important thing that you should keep in mind is that purchasing insurance is not mandatory when you decide to keep your belonging in a place for safekeeping. It is entirely up to you whether you want your goods to be insured or not. If the goods you are storing are expensive, you are strongly recommended to get them insured. However, there are several things that you need to keep in mind before you sign up for the insurance policy offered by the company that maintains that place for safekeeping. For example, if you already have a homeowner insurance policy, all your precious possessions are probably covered under that policy. You must contact your current insurance provider in order to find more information about the scope for that policy. In most cases, a homeowner insurance policy covers all your possessions, no matter where you keep them – this includes the goods stored in an indoor self storage , as well.
Likewise, if you are renting an indoor self storing unit to store your vehicle, it is probably already covered under your current auto insurance policy. If you do not have a policy, it is always advisable to purchase an additional insurance policy.
In case, you do not already have an existing insurance policy, you will have to decide whether purchasing the rental unit insurance is worthwhile. Sometimes, even if the items are not very expensive in terms of money, they may be valuable to you because of personal reasons. So, think about all aspects when you decide whether you need an indoor self storing rental insurance plan or not.
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