A recent story in the Times-Tribune drove home a point that some people may have overlooked - insuring a self-storage rental unit. In this particular case, fire, not theft, was the culprit.
Not having a self-storage rental unit myself, I hadn’t even thought about the insurance ramifications of renting a unit. I do know that most self-storage companies will offer some sort of insurance but what I didn’t know was the extent to which your homeowner’s insurance would cover your possessions. If your car is broken into and your laptop was stolen, your homeowners or renters insurance would cover the laptop and the auto insurance would cover the damage to your vehicle. While it seems reasonable to assume that homeowners insurance would cover your possessions in a self-storage unit, I think it would be reckless to assume that without calling your company.
So, the moral of this story is that if you have valuable possessions at a self-storage rental facility, call your insurance agent and find out specifically what your insurance protects against so that you aren’t caught without the proper insurance in the event of fire, flood or theft or whatever other perils may exist.
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