Renter’s insurance is considered important when you store
items outside your property. For storage units, this type of insurance is
considered to be one of the best, although far from ideal in most cases.
The thing about renter’s insurance is that, even though you
can find premiums with coverage that can provide you with very real
compensation even in the event that you lost all your stored belongings, the
problem is that there’s usually a limit of 10% on your items. That means, if
you declare that everything you store in your storage unit is worth $10,000,
then the most you will recover from that value is $1,000. Moreover, there is a
cap on some items, like gold and silver, while others are only covered in the
event of a theft (that’s usually true for expensive jewelry).
A few workarounds exist to turn this situation into a more
favorable one. The best would be to buy a more expensive premium that increases
that 10% value to a higher one. However, you can also think about buying
specific insurance that covers risks that you feel might be more imminent, or
you can buy insurance from your storage provider. The latter has been
increasingly popular in recent years, and most Van Buren self storage companies offer insurance that actually works extremely well for specific issues that only
arise when you store items in a storage unit.
