Do I need to separately insure my stored contents?

Do I need to separately insure my stored contents?

This is a question we are often asked – people often assume that any contents you store in a dedicated storage facility is covered under their insurance – “I am paying them to store my goods, so I am covered by them – right?”

Wrong! 

It is logical to think that given you are paying for a service, part of that service is to keep your goods safe and protected.  Unfortunately, this is generally not the case.  A storage facility will have its own cover and that will insure them against risk and loss to them, it is not likely however, to cover the risk and loss to you.

All reputable storage providers are likely to insist that your goods are insured and this is almost certainly a condition of using the facility.  You will often not be able to start your storage without proof of cover so we recommend that you consider the level of insurance you require (we always advise insuring to the current replacement cost) and arrange a quote in plenty of time. 

Some storage facilities may include limited cover for you as part of the storage cost (although this is likely to be reflected in the cost of the storage).  Included insurance may also not be at a sufficient level to cover your goods and should be looked at carefully for exclusions.  A tailored policy which is suited to your specific circumstances is always likely to be a better solution that an included option.  Similarly, some storage facilities will offer their own separate insurance policies.  If this is the case, it is always worth getting alternative quotes to ensure that the costs are competitive.  

Another question often asked is does my home insurance cover my stored contents?  Some household insurance policies may cover you for goods stored away from home so it is worth checking with your household insurer if any goods stored away from your home are covered under your main policy, although, again, you should ensure that this is at a sufficient level to cover your stored goods and carefully check for any exclusions.

If you are using a self storage facility to store goods away from your home, specialist cover for goods in storage is invariably the best option.  Most policies will also cover your goods whilst in transit to and from the storage location, another area which is often overlooked and assumed to be covered elsewhere.   It may also include cover against risks such as damage by moth, insect and vermin

When you are storing goods away from your home, you may only need cover for a short period of time, one or two months whilst moving.  Specialist Insurance for stored goods such as that offered by Store-Insure, is generally offered for a minimum period of one month and can be renewed if you end up needing storage for longer than you thought.  If you would like more information on any aspect of storage insurance, see our FAQ’s or get in touch.