Storage unit insurance covers the belongings in a storage unit. You can buy a special policy, or you may be able to use your homeowners or renters insurance to protect your property.
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Storage unit insurance helps you cover the cost of your personal property in a self-storage location if your belongings are damaged, lost, or stolen. You can purchase this type of insurance either from a third-party insurance company or the self-storage facility that you’re renting the unit from.
Some homeowners and renters policies cover storage units. Before buying storage unit insurance, determine how much coverage you’ll need and check if your existing policies protect you.
Quick Facts
Most self-service storage facilities and storage container companies require storage insurance.
Storage insurance doesn’t typically cover motor vehicles, flooding, or animal damage.
Consider additional insurance if you want to protect high-value items.
How storage unit insurance works
Storage unit insurance protects items kept in a self-service storage facility or away from the home. It pays to replace your items against named perils or disasters outlined in your policy. If you must file a claim for your stored items, your policy compensates for repairs or replacements within your coverage limits.
Consider your options before choosing a policy. You can find self-storage insurance through a third-party storage unit insurance company, your storage facility, and often through your home or renters insurer. Be sure to review coverages, exclusions, limits, deductibles, and costs to find a policy that fits your needs.[1]
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What storage unit insurance covers
Storage unit insurance covers damage to your personal property, including but not limited to:
Household items, such as furniture, appliances, and goods
Standard storage insurance protects your items from named perils. Named peril policies only cover perils clearly stated in your policy. The types of losses covered vary by insurer, but you may see coverages for the following perils:[2]
Fire or lightning
Windstorm or hail
Explosion
Riot or civil commotion
Damage caused by aircraft
Damage caused by vehicles
Smoke
Vandalism or malicious mischief
Theft
Volcanic eruption
Falling objects
Weight of ice, snow, or sleet
Accidental discharge or overflow of water or steam
Sudden and accidental tearing apart, cracking, burning, or bulging
Freezing
Sudden and accidental damage from artificially generated electrical current
Good to Know
Fortunately, you can customize self-storage unit policies. Additional coverage options are available to help protect your belongings against floods, earthquakes, and other natural disasters. Extra protection for high-value items, like furs or jewelry, is also available.
What storage unit insurance doesn’t cover
Storage unit insurance doesn’t cover all types of perils or property. Belongings damaged by a peril not listed on your policy may not be covered, leaving you unprotected financially.
Keep in mind that exclusions vary based on your insurance company and your policy.
Does home insurance cover storage units?
Standard homeowners insurance covers personal items stored at your house, as well as belongings stored off your property. But it has limits. Check policy documents to see if your insurer provides this coverage and if any limits or exclusions may apply.
Sometimes called “off-premise” coverage, insurance coverage for items in your storage unit is typically less than limits at your residence. Consider adding more coverage if you have high-value belongings, like jewelry or collectibles.
In general, storage unit coverage through home insurance only covers named perils. Ask about open peril coverage if you want more comprehensive protection.
In addition, a standard homeowners policy only covers your stuff up to its actual cash value, which is its cost minus depreciation. Talk to your insurer about replacement cost coverage to replace the full cost of your things.[3]
Does renters insurance cover storage units?
Renters insurance typically covers items in storage units. But standard renters policies usually limit the perils covered, coverage amounts, and deductibles. These factors affect the amount of coverage you receive.
Renters should check their policy documents to verify their coverage. Customers who need more assistance should speak to their insurance agent.
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How to purchase storage unit insurance
Find the best storage unit insurance by researching your options and comparing coverages. Here are some tips to get you started:
Check your existing policy
Review your current homeowners or renters insurance policy to see if it provides “off-premise” coverage.Be sure to check any limitations.
Assess coverage needs
Check with the storage facility to see if it requires coverage and how much. Consider additional coverage if you have high-value items or your storage unit poses an increased risk.
Understand terms and conditions
Know your policy’s coverage limits, exclusions, and limitations. If you don’t understand something, contact your insurer for more information.
Compare policies
Research policies from different vendors and compare their costs, coverages, and company reputation. The best policy will offer the best value at the best price. You can use an online comparison tool to help you find a policy that meets your needs at the lowest price.
Complete an application
After choosing a storage insurance company, complete an application. Streamline the process by bringing information like storage details, an item inventory with estimated values, coverage requirements, and payment details.
Buy your policy
Review your coverage details, finalize your policy, and enter your payment information to get coverage.
Storage unit insurance FAQs
If you’re wondering if you need storage unit insurance, this additional information may help.
Do storage unit locations require insurance?
Typically, yes. Most storage unit locations require insurance. Check your current homeowners or renters policy to see if you have coverage. You can also purchase insurance through a third-party storage unit insurance company or from the self-storage facility.
Do storage containers have insurance?
It’s possible. Storage container companies may offer insurance for the items in your container as well as the container itself. It may come at an additional cost or as part of your package, so it’s important to confirm your coverage with the storage company.
Do you need storage unit insurance?
It depends. Whether you need storage unit insurance varies on several factors, including the storage facility’s requirements, risk factors, savings, and the value of their items. You may also be able to use your homeowners insurance to cover belongings kept in a storage facility.
Alani Asis is a personal finance freelance writer with nearly three years of experience in content creation. She has landed bylines with leading publications and brands like Insider, Fortune, LendingTree, and more. Alani aims to make personal finance approachable through fun, relatable, and digestible content.
Background working with banks and insurance companies
Sarah enjoys helping people find smarter ways to spend their money. She covers auto financing, banking, credit cards, credit health, insurance, and personal loans.
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