Millions of Americans put their belongings in a storage unit either for a long-duration or a short period. Self-storage is among the parts in the commercial real estate industry that is growing tremendously over the decades. 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. But, storage units are not resistant to disaster and that is why it is essential to protect 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. Averagely, the damage caused by the fire is about $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. Many storage facilities offer CCTV surveillance and various security measures but, it will be difficult for you to recover the things which have been stolen from the storage unit.
In case you have an insurance cover what do you need to do? When you have been displaced from your home because of fire, tornado or natural disasters which affect your house, leased accommodation or business premises, you may have selected self-storage for housing and protecting the items you previously put inside your home. 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.
How can I find the most suitable 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. If you go through their website, you can get an idea of their terms, how they handle their customers and if the company is suitable for your needs. Search for case studies and testimonials from their previous customers. It is always wise to get more information from an independent agent.