pros cons of storage unit insurance
is it mandatory to have an insurance for your storage unit the answer depneds on various things.Please read carefully to understand the pros and cons of insurances for a storage unit,You can get the cheapeast storage unit from here, storage units Houston.
For some people, the answer to this question is a little more complex than it the others. Most of the people who have homeowners insurance (that includes coverage for personal items) have some degree of coverage for items kept in a storage units.
The limit on coverage for self storage varies, typically for an amount up to ten percent of the total personal items coverage for the home. The personal items coverage for a home is 40 to 75 percent of the insured value of the building.
Therefore, if your home is insured for $500,000, your personal items coverage could be as high as $375,000 or low as $200,000. This determines that the exact coverage for your storage unit is between $20,000 and $37,500, which could be more than enough for some people.
Homeowners, renters or business insurancedon’t cover every item you put in your storage unit.
For most people, this matters for vehicles. Generally speaking, motor vehicles – cars, ATVs, and motorcycles – are not covered by any of these policies. This means you need to insure them separately. A few exceptions to this general rule include:
- A car in dead storage
- Anything used to service your residence, like a riding lawn mower or a vehicle designed to assist disabled persons
Remember: Even these exceptions are subject to the 10% coverage limit. If you’re using a storage facility to store a motorcycle, dirt bike or car, check with your Trusted Choice agent to determine whether you’ll need a separate policy for it.
Some folks use storage units to store collectibles, like art or antiques. Any special collections, whether you’re keeping them in your home or in a storage unit, may need a separate policy. Your Trusted Choice agent can offer you a special policy to cover fine arts and collectibles, from paintings to record collections and beyond.
So,If you have homeowners, renters or business insurance, and you’re following the rules of the storage facility, and you let your Trusted Choice agent know exactly what items are going into the unit, then you can be covered in most cases by a standard homeowners, renters or business insurance policy. And if ever your ATV or record collection just can’t stay at home any longer, your agent can easily get you covered.