With the explosive growth of self-storage units, I wanted to cover this topic to help people understand the possible coverage limits on their belongings when they move some of them to a storage unit.
First, your personal belongings are generally covered through the Personal Property coverage on your Home or Renters policy. On the policy, you should have a specific amount (or limit) of coverage, which becomes the basis for the coverage you might have for your belongings.
Most policies have begun setting a 10% limit (of the Personal Property limit shown on your policy), if the personal property is kept at a storage unit or is kept at another residence. If the value of your belongings exceeds the coverage limit in storage, you can either increase the limit on your Home or Renters to help cover the higher amount, or you may consider getting a separate policy to cover those belongings.
If you have questions or need to review your options, just give us a call, as we're always happy to help ensure our clients have the right coverage at the best price.
813-677-1121
storage@meekinsurance.com
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E-Mail: insurancegeek@meekinsurance.com