Millions of Americans put their belongings in a storage unit either for a long-duration or a short period. One of the rapidly growing sectors in the commercial real estate sector over the recent decades is self-storage. People relocate, separate, experience death of a family member, or if they become victims of natural catastrophes, storage units assist in keeping their belongings secure as they look for a permanent solution. The high demand for storage units is for temporary purposes. However, storage units are vulnerable to disaster and for this reason, you are better off securing your property with storage unit insurance.
Is storage unit insurance necessary? You must have a storage unit program that is going to help you repair or change your belongings if they are destroyed in the storage unit. According to research, over 1 million storage units are destroyed by arson annually. On average, the costs that result in the damages caused by the fires is around $11000. The chances of getting the compensation you are entitled to is not good since only 20% of the firebombers that ignite the storage unit are arrested. While most storage facilities will give you video surveillance and other security measures, the likelihood of getting your belongings from a storage facility is minimal.
What do you do if you already have an insurance cover? In case you have been ejected either by fire, tornado or natural calamities that affect your home, rented accommodation or business property, you might have chosen self-storage to safeguard the property that was in the house. You may already have coverage for your property if they are listed in your homeowners, renters or business insurance. In case you will depend on the existing property insurance to protect your items stored in their storage unit, then you must go through the terms of the current policy to verify that you will not need extra coverage.
here is how you can get the best storage unit insurance. Irrespective of your reason to look for a self-storage unit, you want to ensure that the insurance program you select for securing the items is the best you can ever have. You need to research both online and offline and have a list of potential providers. You should pay a visit to the website of the company and look through their policies, customer service and if it is the best for your needs. Check out case studies and customer feedback from the people they have worked with in the past. The best thing you can do is to consult with an independent agent.