One of the most common mistakes people make when using self-storage is under-insuring their items. Many customers estimate value too low, forget high-ticket items, or assume they’re covered automatically.
This blog explains what under-insurance is, why it matters, and how Store Insure helps customers get the right level of cover for their stored belongings.
(Image suggestion: boxes with a clipboard checklist / valuation estimate on phone)
1. What Does “Under-Insurance” Mean?
Under-insurance is when you insure your belongings for less than they’re actually worth. For example, you insure contents for £5,000… but replacing everything would cost £12,000. That gap can cause major stress if something goes wrong.
2. Why People Underestimate Their Storage Value
This happens because people often forget:
- Small items add up fast (kitchen goods, books, accessories)
- Tech is expensive to replace (TVs, laptops, tablets)
- Furniture replacement costs have increased over time
- Tools, stock, and equipment often have higher value than expected
- Collectables can be worth more than people realise
Store Insure recommends working out your sum insured based on replacement value.
3. Risks That Storage Insurance Can Protect Against
A specialist storage policy may cover major risks including:
- Fire, lightning, explosion
- Theft or attempted theft
- Storm or flood
- Escape of water or oil
- Vandalism / malicious damage
Store Insure highlights these as key risks to check for when comparing policies.
4. How to Value Your Stored Items Properly
A good approach is to:
- Walk through your unit list-by-list (bedroom, kitchen, garage, etc.)
- Create a spreadsheet with rough replacement costs
- Photograph key categories (electronics, furniture, tools)
- Save receipts where possible
- Don’t forget single expensive items (bikes, jewellery, collections)
A digital inventory helps make this faster and supports claims if needed.
5. Why Specialist Storage Insurance Helps
Many storage providers offer “included cover”, but this may not match what you actually need.
Store Insure points out it’s worth comparing specialist cover, because included cover can be basic or poor value compared to a dedicated policy.
Conclusion
Under-insuring isn’t just a small admin error—it’s a major risk. By calculating replacement value, keeping a digital inventory, and choosing specialist cover, you can protect yourself from costly disappointment later.
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