Does Renters Insurance Cover My Items If They Are in Storage Units?

One thing to note when shopping for renters insurance is that every policy is different. You should carefully review your policy with your agent to see what is and is not covered.

What You Should Know About Renters Insurance and Storage Units 

Renters insurance will commonly cover your belongings no matter where they are, which could include a storage unit. The personal property coverage in a standard renters insurance policy will typically cover your possessions from covered perils anywhere in the world, including storage units, or in your vehicle.  

It should be noted, however, that this coverage will usually not be the same as when you store your items inside your home. It commonly comes with a limit on off-premises coverage that could be a percentage of your personal possessions coverage, or a flat dollar amount.

Before you place your items in a storage unit, you should carefully review what your policy does and does not cover and what limits may apply.

Why You Should Create a Home Inventory 

If you need to file a claim in the future, having an updated home inventory can save you time. You can take photos and videos of the current condition of your items. For more expensive items, document serial numbers or receipts and purchase dates. The more detail that you can provide, the better.

Before you lock up your storage unit, it doesn’t hurt to take some photos and videos of your items.

A Note on Jewelry, Collectibles, and Firearms 

If you are storing more expensive items such as jewelry, you may need a rider or floater to add to a standard policy. Some common items you may need a floater for are:

• Antiques and collectibles
• Musical instruments
• Jewelry
• Sports equipment such as skis
• Rare trading cards

Renters Insurance and Flooding, Mold, and Mildew  

Policies vary, but many typically do not cover damage from flooding, mildew, or mold. You should review your policy to see what is and is not covered.

It is also wise to take precautions against water-related damage, like:

• Storing items off of the floor, such as on pallets or shelving
• Use plastic containers instead of cardboard
• Consider using moisture absorbers
• Making sure appliances are drained before storing them

What Does Renters Insurance Cover? 

You may have guessed that renters insurance typically covers personal property, such as your furniture and electronics. Typically, some covered disasters include fire, theft, or water damage from an internal source (such as a plumbing leak from a connected unit).

How Do I Get a Quote for Renters Insurance? 

When it comes to selecting a policy for renters insurance, it’s a good idea to compare coverages. At Cross Insurance, we work with the nation’s leading carriers as well as regional insurers. Our agents are available for account management support. Contact us to request a renters insurance quote.

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This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.