How Does Renters Insurance Cover My Property in a Storage Unit?

Miles of Storage
February 8th, 2025

If you’re renting a storage unit, you might wonder if your renters insurance will cover the belongings you keep there. The good news is that many renters insurance policies provide some level of protection for items stored away from your home. However, coverage limits, exclusions, and special conditions may apply, so it’s important to understand how your policy works.

Does Renters Insurance Cover Items in Storage?

Most renters insurance policies cover personal property no matter where it is in the world. That means your furniture, electronics, clothing, and other belongings may be protected if they are damaged, stolen, or lost due to a covered event, like a fire or burglary. However, there are some key details to keep in mind:

Some valuable items, like jewelry, firearms, or collectibles, may have sub-limits, meaning they are only covered up to a certain amount unless additional coverage is purchased.
Coverage for items stored in a storage unit is often limited to a percentage of your total personal property coverage or a set dollar amount.
You may need to pay a deductible before your insurance pays out for a claim.

For example, if your renters insurance policy includes $50,000 in personal property coverage and has a 10% limit for off-site storage, you would have up to $5,000 in coverage for your stored belongings, minus any deductible.

What Events Are Covered?

Renters insurance typically protects against specific risks, known as covered perils. These usually include:

Fire and smoke damage
Theft and vandalism
Water damage from burst pipes (but not flooding)
Windstorms and hail
Lightning strikes

However, there are some risks that may not be covered, such as flooding, earthquakes, mold, or damage caused by pests. If you’re storing items in a location prone to these risks, you may need additional coverage.

How to Document Your Items in Storage

If you ever need to file an insurance claim, having proof of what you own and its value can make the process much smoother. Here are some steps to document your stored belongings:

Take photos or videos of everything you store.
Create an inventory list with descriptions, estimated values, and purchase dates.
Keep receipts for expensive items like electronics or furniture.
Record serial numbers for valuable items like TVs, gaming consoles, and computers.

Having these details handy can help your insurance provider process claims faster and ensure you get the appropriate reimbursement.

Do Storage Companies Offer Insurance?

Many storage facilities offer their own insurance policies, either through a third-party provider or as an add-on to your rental agreement. In some cases, they may even require you to have insurance coverage. This could be renters insurance, a storage-specific policy, or both.If the value of the items you’re storing exceeds the coverage limit provided by your renters insurance, purchasing additional storage insurance can help fill the gap. Be sure to compare policies to understand what each one covers and if there are any exclusions.

Choosing the Right Coverage for Your Needs

If you’re storing valuable items, it’s a good idea to review your renters insurance policy and consider whether you need additional protection. Contact your insurance provider to ask:

What is the coverage limit for items stored in a storage unit?
What perils are covered, and what exclusions apply?
Can you add extra coverage for high-value items?
Does the policy require specific security measures at the storage facility?

Understanding your coverage before an issue arises can help you avoid surprises and ensure your belongings are protected. If you're looking for secure self storage in Indianapolis, reach out to Miles of Storage so we can provide you with more info.