Choosing the right Storage Insurance

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What does storage insurance cover?

The main purpose of storage insurance is to protect you belongings in storage. Cover is provided for a range of events including theft, fire and water damage.

With a number of Storage Unit fires over the past few years and with the affects of global warming fire and water damage are the two most important factors customers look for when purchasing storage unit insurance. Water damage covers a number of events including flooding, burst pipes, sprinkler damage and of course floods.

Other cover includes damage caused by vermin, smoke and damage to the facility by collision or vandalism.

Top tip - Always check if your insurance includes an excess. Some specialist insurance companies such as Surewise have a £0 excess fee.

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What belongings are covered?

The majority of policies are purchased to protect household furnishings, furniture and other household items such as appliances and carpets.

Cover can be purchased for commercial, personal and student belongings. You may find some limitations on the value of belongings or goods being stored. In some cases you may find a limit for certain items stored such as stamp and coin collections or valuables such as jewellery and antiques.

Top tip - Always check for cover limits.

Why do storage insurance units require insurance

All storage facilities require you to have a personal policy for your belongings. Although the vast majority of facilities have security checks accidents do happen and you might not be covered under the storage units own insurance policy.

You don’t need to purchase insurance direct from the facility. It is against the FCA’s rules to sell insurance as part of contract to provide storage. Buying insurance from a specialist can save you up to 70% than buying direct.

Top tip - Compare prices before buying insurance direct.

How much is Storage Insurance?

Prices vary depending on a number of factors including the type of cover (business or personal) the amount of cover required and the type of storage facility. You may find higher insurance premiums for container compared to internal units. Business insurance is typically more expensive than personal belongings due to the nature of the items being stored such as stock or equipment.

Another factor to consider is the length of storage required. Some policies will charge a premium for shorter periods.

Top tip - Check our storage insurance comparison for the best deals!

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Who offers storage insurance?

Nearly all storage facility providers will provide a level of cover. There are also a range of specialist providers not associated to the facilities that provides excellent cover at affordable prices. Our comparison page includes a number of the direct providers. Always check for short term and long term cover as well as excess levels and cover limits.

Top tip - Shop around

What is not covered on storage insurance?

If you looking to store a motor vehicle, caravan for example you may need specialist insurance. Some facilities do not allow the storage of these items and you may need to look for a specialist storage facility too.

Top tip - Check the small print!

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