Property in Storage; Am I Covered?

November 22, 2013

California self-storage or mini storage facilities are available in almost every community, and people are placing personal property in storage for many reasons. Some people store personal property during a move, to store an ATV, to store seasonal items, or simply need the extra storage space.  These facilities offer safe and clean storage for a reasonable cost.

To completely answer the question, “Is my personal property covered while in storage?” let’s look at the basic coverage found under a typical homeowner’s policy. Remember actual policy terms and coverage varies. Armstrong Insurance has options for all California Home Insurance.

California Homeowners or Renters Policies Typically Cover:

  • The dwelling- Pays to repair or rebuild your home, if you own it.
  • Personal property coverage- Reimburses you for the personal items in your home that may be damaged or destroyed by a covered cause of loss.  This could include your furniture, clothes, sporting goods and electronics.
  • Loss of use coverage- Pays your additional housing and living expenses if you must move out of your home temporarily while it’s being restored.
  • Liability insurance- Covers you if you or your family members are responsible for causing injuries or damage to other people or their property.

So how is property you place into a storage facility covered? A standard homeowners or renters insurance policy provides you with protection for personal property you own anywhere in the world. Coverage would apply to personal property you own while in a storage facility. But there can be some limitations. Depending on your policy, your property in storage may have a limit of 10% of your total policy limit. For example, if you have a homeowners or renter policy with a limit of $500,000 on the property, you could have $50,000 of coverage in a rented storage facility. Here are some other limitations of which to be aware:

  • Vehicles
  • ATV’s
  • Fine art or collectibles
  • Motorcycles
  • Other items not covered under your home or renters policy

Finally, your property in storage may also have limitations regarding to the kind of loss covered. For example, flood, earthquake, or sewer back-up may not be covered. Call Armstrong Insurance today for a complete review of your insurance program.