Generally, an insurance policy is included in the contract, when you rent a storage unit, or the facility may offer you insurance for additional costs. However, if you are wondering whether your homeowners insurance that you already pay for can also cover the content of your storage unit, the answer is “it might”.
Homeowners insurance covers personal property from certain risks (theft, vandalism, fire, flood etc.), according to the coverage limits in your policy. Your belongings from a storage unit are not physically located at your home, but they might be covered by your homeowner insurance, in certain situations. For this, you must check if your policy includes “off-premises” property, as well as different types of risks. Same for car storage Colorado Springs check with your car insurance company for policy coverage.
You can expect that personal property coverage is limited up to 50 % of the policy’s dwelling coverage limit, but again, you will have to check your policy to learn how much coverage you actually have for these items.
You can choose to increase your off-premises coverage in your policy. However, sometimes, the value of the stored items is greater than the off-premises coverage; if that is the case, you should probably consider additional insurance options to protect your high-value items.