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Make Sure you Get Insurance for Your Storage Unit

Your warehouse operator will most likely insist you obtain insurance for your belongings while they are in storage. Many facilities will require you to sign up for basic coverage and include charges in their rental fees. However, the basic insurance you receive through your storage company may be very minimal and is usually $0.30 per pound per item. For example, if you were to insure a 20 lbs television set under a basic insurance plan and the TV happened to break, you would only receive $6.00 towards replacing it because 20 x $0.30 = $6.00. For further coverage options you will need to investigate what else is available to you.

It is common that warehouse operators who offer additional insurance might require you to accept their preferred insurance program. However, other storage facilities have relationships with various insurance companies due to the bulk discount they receive. This will offer you more options at competitive rates.

You may be eligible for coverage while your goods are in storage through your homeowner's insurance policy. It is a good idea to check with your insurance company before agreeing to any additional insurance plans. When you have decided on a particular insurance plan, you should inquire about what you will need to do when you add or remove items while they are in storage. This is because your insurance needs will change as you add or remove items; if you add an item later on and it is damaged, it may or may not be covered by your insurance if it was not accounted for from the beginning.

Receiving coverage for the entire value of your goods.

Whether you are storing extremely valuable or everyday items, you may decide to take out additional insurance that will cover the complete cost of your goods. For example, if you are storing a $20,000 dining room set insured for 20 percent of its value, you will receive only $4,000 in the event it becomes damaged beyond repair. Damage caused by moisture as a result of high humidity levels or damage caused by pests may or may not be included in any standard insurance policy-you may have to pay more. To prevent these additional costs, it may be wise to opt for climate or pest control services through your storage company.

Are my goods insured while in transit to storage?

You will need to insure your household goods. Many moving companies do not offer protection and if they do, it's minimal. If you will be renting and driving a truck yourself, you will most likely need to think about obtaining additional insurance. It is important to remember that you will receive better protection if you use full or self service movers.

So, what is a full service move? A full service move is where a moving truck is sent to your home, packs your belongings, loads them onto the truck and delivers them to your storage facility. Full service moves save you the hassle of packing, loading and moving your goods.

A self service move or the "You Load We Haul" option is very popular among those trying to cut their expenses. In a self service move, you package and load all your belongings into a truck and they are transported to your destination by a professional driver. In this particular type of move you are also required to unload your things once the truck has arrived. Some of the advantages are that you do not have to worry about maneuvering a large, unfamiliar truck for many miles and you may take your preferred mode of transportation to your destination.

You may assume everything is covered by your homeowner's insurance policy however, when exactly does that policy end?

When exactly your homeowner's insurance policy ends can be complicated. Does is end when your goods leave your home and cross state lines? Or does it end when your house is sold and you are storing your goods until you find a new home? Select homeowner's insurance policies do cover household goods while they are in transit. However, this is something you will have to further inquire about with your insurance provider because the policy may be void once you close on your old home. If you happen to receive coverage, you should make sure to contact the insurance company and question them about what the coverage includes. In the event you should need to file a claim with your insurance company, you will need to provide proof that the damage is due to the mover's or truck rental company's carelessness. Keep in mind-items which you have packed yourself will not be covered for if damaged.

Smaller rental truck companies do not usually offer many extra services such as insurance or roadside assistance. For this reason, you should look at other factors when deciding on a moving company; other factors include services such as temperature control, pest control, facility maintenance and storage conditions. Price alone should not be the only consideration when comparing estimates.

If you will be driving the truck yourself, you will need to find out if your auto insurance company protects you while you drive a rented truck. However, is not common to come across an auto insurance company that does offer protection so call your insurance provider to inquire about how much more it will cost you to insure yourself and the truck. Your current insurance policy may also offer you roadside assistance, even if you are using a different vehicle, but you will need to provide them with information about the type of truck, when you will be driving the truck and how far you will be traveling.

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A Moving Company's Moving Story
June, 2012

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