• Contact
  • Privacy Policy
  • Disclaimer

Best Insurance,Car Insurance,Life Insurance,Health Insurance

Give information about car insurances,auto car insurances quote and tips in dealing with insurances

  • DROPDOWN MENU
  • Insurance
Home » Uncategories » Does your homeowner’s insurance cover theft from your storage unit? The answer might surprise you.

Does your homeowner’s insurance cover theft from your storage unit? The answer might surprise you.

Posted by Best Insurance,Car Insurance,Life Insurance,Health Insurance on Wednesday, 21 December 2016

There’s a reality show on A&E about people who bid – sight unseen – 
on the contents of abandoned storage units. Yep, that's a thing.  

Self-storage is a booming business these days, according to Bloomberg. New warehouses are being built at a record pace to store Americans’ extra belongings. Nearly 10 percent of Americans rented a storage unit in 2015, according to Sparefoot.com, a storage unit comparison site. There are even luxury storage units to store your vintage car collection or to give you another space to hang out in.

Before you rent a storage unit, luxury or otherwise, you should be thinking about what happens if your belongings are damaged or stolen.

Generally, if your homeowner or renter policy covers contents that you store offsite--say, at a storage unit--they limit the coverage to a certain dollar amount, and they do not cover theft from the storage unit. That’s really important information to know before you fill a storage unit full of your belongings.

It may not be a good idea to store items of high value, like art, antiques, jewelry, collectibles, furniture or rugs, in a storage unit. Unless you have had the items appraised and insured for those amounts, it’s likely the dollar limits on your coverage will not be enough to pay to replace your possessions if they are damaged.

If you need to store valuables of that nature somewhere other than your home, talk to your agent or insurance company.

Most storage unit businesses offer their own insurance policies, but are they a good deal? That depends on if you already have coverage through a renter’s or homeowner policy. If not, read the policy offered by the storage company. What does it cover? What does it not cover? What is the dollar limit for the coverage? Is there a time limit for the coverage? What is the deductible on the policy?

Storage businesses that sell these policies are required to be licensed insurance producers. That means if you have trouble, you can file a complaint with us.

Here are some tips if you rent a storage unit:
  • Read your policy or talk to your agent or insurer about covering any contents you are storing anywhere other than your residence
  • If your renter’s or homeowner policy does cover offsite storage, there may be limits on:
    • The dollar amount of coverage.
    • How long things in storage will be covered – think temporary, not long-term or indefinite storage.
    • The types of losses that will be covered – theft likely is not covered.
  • Create an inventory of what you are keeping in storage. It can be as basic as taking photos with your phone, or you can download an app from the National Association of Insurance Commissioners, your insurer, or some other app. Or, you can make a list that you store somewhere safe. 
Questions? You can contact our consumer advocates online or at 1-800-562-6900.

0 Response to "Does your homeowner’s insurance cover theft from your storage unit? The answer might surprise you. "

Older Post → Home

All Populer Post

  • Insurance News - Tuesday, February 19, 2013
    Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Tuesday, February 19, 2013 : Steep hikes pr...
  • Insurance News - Tuesday, November 19, 2013
    Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Tuesday, November 19, 2013 : The Consumer ...
  • Insurance News - Thursday, November 14, 2013
    Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Thursday, November 14, 2013 : For those wh...
  • Insurance News - June 12, 2014
    Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Thursday, June 12, 2014: What do politics ha...
  • Introduction to 5 Car Insurance Tips
    Introduction to 5 Car Insurance Tips How much you pay for auto insurance depends o­n several factors, including your age and marital s...
  • Cigna Insurance Profile
    Cigna Insurance (NYSE: CI), a global health care company devoted to helping improve the health, well-being and sense of security, providi...
  • types of life insurance
    types of life insurance Before discussing the types of life insurance , if any of you who still think that buying life insurance is uni...
  • Insurance News - Monday, June 11, 2012
    Assault Victim May Qualifies for SABS Because of Psychological Trauma The plaintiff was physically assaulted by several unidentified assaila...
  • Most Americans Don't Budget According to a Survey
    The National Foundation for Credit Counseling (NFCC) recently published a survey about the Consumer Financial Literacy. The 2014 Financial L...
  • How Auto Insurance Companies Work
    How Auto Insurance Companies Work Driving a car provides freedom and convenience, but it's also a huge responsibility. That's...
Powered by Blogger.

Link Sahabat Blogger

  • Blog SMK Teknik Komputer & Jaringan
  • Cara Mudah Membuat Kerajinan
  • guru404 web Download Materi Pembelajaran
  • News Deegital Multimedia
  • Pondok Pesantren Indonesia
  • SMK PGRI 2 Jombang
Copyright 2016 Best Insurance,Car Insurance,Life Insurance,Health Insurance. All Rights Reserved. Powered by Blogger