Home Insurance and Storage Unit (August 2025)

Does homeowners insurance cover items in a storage unit?

Is there insurance for the storage unit? Yes! Your home insurance policy may cover objects in your storage unit against certain risks based on your policy's coverage.

Home insurance and storage units

The following are the various coverage types in your homeowners insurance policy that might cover financial protection for items in the storage unit.

• Limits on off-premises coverage: Unless you opt out, your home insurance coverage for personal belongings normally includes off-premises coverage. Damage to objects kept anywhere, including your storage unit, gets covered by off-premises coverage. The coverage is often between $1,000-$5,000 or 10% of the total personal property coverage limit. If the contents of your storage unit are worth more, consider increasing the total coverage limit of your home insurance policy or buying separate storage insurance.
• Theft-only coverage limits: Your stolen personal possessions may get various coverage limits based on your home insurance policy. Many insurers limit compensation for stolen valuables such as money, weapons, jewelry, and collectibles to roughly $2,000 - regardless of how much it is worth.
• Limits on high-value items: The coverage limits for jewelry, furs, weapons, golf clubs, antiques, artwork, and other collectibles come to around $2,500-$3,000. According to the Insurance Information Institute (III), adding a scheduled personal property endorsement to your policy guarantees that these goods in storage get proper protection.

Should you buy a self-storage insurance policy?

That depends on your coverage requirement. Storage unit insurance will be an excellent choice if you have gaps in your personal property coverage. The three key factors that you must check while buying insurance for a storage unit are as follows.

• Level of coverage
• Types of damages covered
• Limits on high-value items

What perils are covered?

Are you so planning to buy storage unit insurance? Some insurers will only provide coverage for theft when you are away from home. It means you would lose coverage if your storage unit burns, floods, or gets damaged by something other than theft. Firstly, you must have an idea about the perils the insurance covers!

• Fire
• Water
• Flood
• Lightning
• Mold/fungus
• Business property coverage
• Smoke
• Theft
• Hail
• Vermin/bug infestation
• Vandalism

Check your storage and home insurance before buying additional insurance. If there isn't enough coverage and your contents are at risk, consider adding extra storage coverage.

How much coverage do you need for the storage unit?

It depends on what items you plan to insure. If the coverage is only 10% of your overall personal property allowance, consider whether it will be sufficient to protect the items you're storing. Consider purchasing additional insurance for the storage unit to make up the difference if the coverage is inadequate.

What is not covered by storage insurance?

Check your insurance policy details to know what isn't covered. The following are a few high-value items that are sometimes not covered by storage companies.

• Money
• Jewelry
• Watches
• Furs

Consider adding an endorsement to your home insurance policy for these valuables, or refrain from storing anything of really high value in your self-storage unit.

Do storage units have their own insurance?

Storage companies almost always provide their policies or policies from a specialized third-party insurer because self-storage facilities mandate that customers have insurance. However, this insurance may not cover all types of water and smoke damage, exposing you to monetary loss. So, before buying a policy, check what is and isn't covered.

How much is the storage unit insurance?

So, decided to buy insurance for a storage unit? The insurance can cost anywhere between $8-$50 per month for coverage of $10,000. The cost may be lower when compared to the rate of personal property coverage in a standard home or renters insurance policy. But always remember that you don't have to insure everything you have; you have to get protection only for the items in the storage.

Rates for self-storage insurance providers

SafeStor and MiniCo are the two biggest companies specializing in self-storage insurance.

• SafeStor works via self-storage facilities and directly with clients. With a $100 deductible and three policy limits, SafeStor offers maximum coverage of $15,000 for $24 per month. Their policy excludes expensive items like jewelry.
• There are no deductibles with MiniCo, but its insurance cost is higher. Customers can choose from more than two dozen plans directly from MiniCo, with a $75,000 maximum insurance limit, for a monthly fee of $240. Similar to SafeStor, MiniCo does not cover certain items.

Rates for insuring storage units with renters or homeowners insurance

The rate of insuring your possessions with a home or renters insurance depends on your choices.

• Typical renters or homeowners insurance policy: Most homeowners and renters insurance policies provide coverage for stored items up to 10% of the policy's coverage limit. So, if you have $25,000 insurance and $2,500 in storage coverage is insufficient to cover your possessions, you'll have to pay for extended coverage.
• Expanded renters or homeowners insurance: Increasing the overall limit of your insurance policy to cover more of your belongings is another ideal choice. According to the average cost of renters insurance in New York City, increasing your limit from $15,000 to $25,000 might cost you about $20 a year.
• Add endorsements: You can also safeguard particular items or a group of items that your policy doesn't cover. You can insure special and expensive goods, like jewelry, by adding endorsements or floaters to your standard home or renters insurance policy. The kind of item and the requested coverage level will decide how much an endorsement or floater would cost.

Storage insurance tips and additional resources

What are the best practices for your storage unit? We have some for you!

Maintain an inventory: Always keep an inventory of the belongings in your storage unit. It helps keep you organized and protects you in case of a claim.

Don't use plastic bags: Items stored in plastic bags are more likely to acquire mold. So avoid them.

Do not store personal or high-value information: Deeds, cash, jewelry, and other valuable or irreplaceable objects should be kept at your primary residence.

Store items on a pallet: Always store your belongings on a pallet to ensure ventilation and prevent contamination on the ground.

Other ways to protect items in storage

Even the safest storage facility is vulnerable to threats that can permanently destroy your belongings. The insurer would reimburse you for the lost or damaged stuff. Still, some objects are invaluable and require additional protection. The following are the defenses you may take to safeguard your belongings.

• Choosing the correct facility: There are many self-storage facilities in the country. But not all of them offer high protection to their customers. Before you use a storage unit, ensure the documents you sign clear the facility of liability in the event of loss or damage to the storage item. Then you must conduct research before selecting a storage facility. Ensure to study the company's past and history, as well as customer ratings, reviews, and complaints. Also, inquire about how the organization manages damages and losses and whether any complaints got settled.
• Protection from theft: It is vital to understand whether the facility has had any instances of theft or break-in and what security measures are in place to prevent them. Is there 24-hour surveillance? How can one get into the facility? What types of locks are utilized on individual storage containers, and are there other reinforcing forms for additional security? These are key questions to consider while selecting a self-storage facility.
• Moisture and water protection: Your items become vulnerable to floods if they are in a low storage unit. Extreme humidity and moisture can also lead to mold development; however, you can enhance the protection by wrapping all items in plastic. Also, you can reduce water damage by using vapor barriers, desiccant packs, and a climate-controlled storage facility. If you live in a warm location all year and have extreme humidity, choose an air-conditioned self-storage facility.
• Fire protection: All self-storage facilities should have fire protection systems prohibiting storing flammable and combustible materials. It should be one of your primary considerations while choosing a storage facility.
• Keeping access codes secret: Never disclose your storage unit's access code to anyone you do not trust. Rather than writing it down, save it on your phone with password protection.

Summary

Storage unit insurance can be a good choice if you want to protect your personal belongings. It is also a good option if you've gaps in your personal property coverage. But ensure to check which all damages that the insurance cover. Like, damage from smoke and water may not get covered by this insurance. Always ensure to maintain an inventory of your items in the storage unit.

How to file a home insurance claim for a storage unit with Way.com

Most home insurance policies cover items in your storage unit. But you must have one to cover your valuable items. So, how can you buy a cheap home insurance policy? That's where Way.com can help you!

You must use our website or app to find quotes from all home insurance companies in your area. Then you must compare the quotes and buy a policy with the most affordable rate. Do you need help filing a claim? You can easily do it on our website. Or our home insurance agents in your area guide you. They will help you understand the most complex home insurance laws, terms, coverages, and discounts. Also, they will guide you through the filing process.