If you are getting ready to downsize and are planning on storing some of your belongings in a storage unit, you may wonder if you should purchase insurance for these items. Before you buy a policy offered by the storage unit facility or add coverage through your insurance company, here are several things you should know.
Your existing policy might cover your goods
If you have a home insurance policy or a renter's insurance policy, there is a chance that your existing policy might already provide coverage for the things you store in a storage unit. To find this out, call your insurance company and ask. They may tell you that your policy does provide coverage; however, there is also a chance that it may not cover everything in your unit.
If your current policy does not provide coverage, your insurance company could add coverage for the unit. You may need to give the address of the facility and the storage unit number in order to get the coverage, and you might also need to give an estimate of the value of your goods that are in the unit.
You may need to purchase a special policy
Normal home insurance and renter's insurance policies will only cover belongings up to a certain value, and they often exclude certain types of items. The items they may not cover typically include expensive collections, jewelry, or art. If these are the types of things you are placing in your storage unit, you should contact your insurance company to make sure you tell them what the items are and the value of the items. They can make sure you select a policy that will be sufficient for these items.
You may need to take extra steps to protect your items
Finally, you should understand that your insurance policy for the belongings might require certain things from you. This may include propping your boxes and items up on wood pallets. This is done to prevent moisture damage to your items. You might also be required to use a certain type of lock on the unit, and this is required in some cases simply to make sure that the goods are locked up tight to prevent robberies from the units.
Storing personal belongings in a storage unit is a great solution for many reasons, but it is always important to make sure that your goods are fully insured. To learn more, visit a storage unit facility like Bill King Moving today.