If you are renting, it is important to get coverage for your belongings through renter’s insurance. Renter’s insurance protects your belongings from perils such as fires or theft.
But can your belongings still be protected if they are in a storage unit?
Some renter’s policies include off-premises and self-storage coverage. This coverage protects your belongings while they are ‘off-premises’ of your rental unit. This can extend from as close as your vehicle, or as far away as a storage unit.
Off-premises and self-storage coverage usually only covers up to a certain percentage (usually 10%) of the total personal property coverage. Depending on how much you have insured your belongings for, expect only a 10% coverage limit for any off-premises belongings.
Calculate Your Coverage
Total up the value of items you are keeping at your storage unit and make note of any high-value items. After your calculations, review your policy and see if all your belongings will be covered through the off-premises or self-storage coverage.
Also, check to see if your insurer has implemented a per-item coverage limit based on a percentage of your policy. This means your provider will only reimburse you a percent limit per single item.
Speak with your agent for precise information on your policy.
Payne Insurance Group
Keep your belongings protected with Payne Insurance!
Payne Insurance Group provides insurance for auto, home, commercial, and much more! Payne Insurance Group has partnered with over 13 businesses across the Rio Grande Valley, As a result, we have created a one-stop-shop for all your automotive needs.