A self-storage customer’s property is not insured by the self-storage facility. Therefore, it is each customer’s responsibility to insured his/her stored goods. The AssuredContents Insurance Program will cover losses due to events beyond the self-storage facility’s control for direct physical loss caused by a covered peril to the customer’s property.
Your homeowner’s policy may or may not cover your property while in storage. It is consult your policy or your agent. In many cases you may need to buy extra coverage or add a rider to your homeowner’s policy to insure property in storage. Additionally, homeowners policies have steep deductibles (typically $1,000 to $3,000) and lengthy claim surcharge periods (typically 3 years) that may deter you from filing a claim. The AssuredContents Insurance Program is a specialized primary-coverage policy for your stored property.
Almost any type of property is eligible for coverage. Some of the exceptions are aircraft or watercraft; contraband; firearms, flammable or combustible agents; food or perishable items; furs or garments trimmed with fur; hazardous materials; live animals or plants; magnetic tapes; money and securities; property under lien enforcement; self-propelled machinery or trailers; valuable papers; valuable or collectible property; watches, jewelry, stones and/or precious metals.
Fire, lightning, explosion, rising water from a named storm; windstorm or hail (except as excluded), theft, sonic boom, vandalism or malicious mischief; weight of ice, snow or sleet; collapse of buildings (except as excluded); water damage from roof leaks, strike, riot or civil commotion; vehicles, this means the physical contact or a vehicle with covered property; falling aircraft; smoke; or falling objects, but this does not apply to loss to property in the open or to property inside buildings or structures unless the exterior of the roofs or walls are first damaged by a falling object.
$2,000, $3,000, $5,000 or $10,000. Higher limits may be available and require additional procedures/documentation.
Theft means the unlawful taking of property from inside a storage unit by a person unlawfully entering or leaving the storage unit as evidenced by marks of forcible entry or exit and further evidence by a Police Report. Mysterious disappearances are not covered under the policy.
The basic deductible is $100 – regardless of the amount of coverage purchase EXCEPT the insurer will pay up to $100 for the reasonable and necessary expenses that you may incur to replace damaged disc padlocks that have been purchased from the storage facility. Other deductibles may apply for optional lines of coverage.
Generally, you can recover today’s value of your stored belongings (original cost minus depreciation), up to the amount of insurance coverage you purchase. Some limitations may apply.
Customers will receive an Evidence of Insurance.
Coverage begins when your rental agreement that includes the AssuredContents Insurance Program begins. Coverage ends when your rental agreement terminates or on the date specified in any notice you may receive for failure to pay your monthly payment.
In the event of a claim, losses must be reported by the insured immediately through the National Claims Reporting Line at (800) 628-0250. The caller then presses 2. This delivers the call to the Customer Care Team. The representative will take the loss report and assign an adjuster. You will need to have the policy number from your Evidence of Coverage.