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How Does a Storage Facility Determine Pricing and Estimates?

It is important to receive written estimates from at least three storage companies prior to signing a contract. Estimates are usually free of charge, with a chance of a minimal fee. When requesting estimates you should not only compare prices, but compare services. Your cheapest estimate may offer horrible service, putting your goods at a higher risk for damage. Also take referrals into consideration; you can request a referral from a friend, colleague or the storage company. This way you can view complaints made against the designated company.

A warehouse estimate differs from a mover estimate because no extra charges can be applied without the customers consent. All warehouse estimates are based on the warehouse operator physically inspecting the items you wish to store. If they attempt to offer you an estimate over the phone, do not accept and reconsider your storage facility.

The following list is of what you should expect to receive in a storage estimate:

  1. Name, address and telephone number of the storage company
  2. Address of the location where your items will be stored (may differ from office location)
  3. Warehouse storage rate per unit
  4. Minimum monthly storage charges
  5. Minimum number of months storage
  6. Any fees associated for storage preparation, padding or packing
  7. Costs applied for transportation if this service is available
  8. Any other additional charges
Within five days the warehouse operator must send you a statement regarding the inspection of your goods. It should include a detailed description of your monthly charges and any additional fees. The statement should also contain information on any liability limitations for loss or damage.

The basic storage costs will cover light, electricity, insurance, security and pest control. However, it is necessary to consider what storage options you need. Certain items may require temperature control or non-standard insurance. If it is important that your goods have special care, then it is advisable to pay the extra costs.

A warehouse must insure goods against loss or damage for a minimum of about $0.30 per pound per article up to $2,000. For example, if you take out insurance worth ΒΌ of the original value, each item would be covered for a quarter of its purchased price. You may decide to use additional insurance, if available through the warehouse. It is important for you to understand exactly what your coverage includes in the event that your goods are damaged.

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