My Stuff is in Storage- Is My Ma Homeowners Insurance Enough?

My Stuff is in Storage- Is My Ma Homeowners Insurance Enough?

There are many of us out there who do not like to get rid of stuff – I guess you can call us hoarders, but sometimes it’s hard to get rid of things we have some sort of attachment too! But what do you do when you run out of room for all your stuff? Perhaps you have downsized your home for the time being, or have some large items that you don’t need right away. Self-storage units are a great way to deal with your extra belongings that you may not have space for at this time. Statistically, 1 out of 10 U.S. households rent a storage unit.

So let’s say you’ve acquired this extra space and you have moved your belongings into your storage unit; have you considered insuring the items you have in storage? Many people who have their items in storage units do not consider the possibility of theft, fire or other disasters. You should talk to your storage facility manager to define what types of losses are covered through them, and what you should seek coverage for on your own. You can talk to your Massachusetts insurance agent to discuss what your MA Homeowner’s Insurance or MA Renter’s Insurance policy may already cover. Some policies have off-premise coverage to protect belongings in storage facilities. You would not be protected from damages caused by flooding, earthquakes, mold & mildew, vermin or poor maintenance. You should also discuss the limits with your MA insurance agent to know how much coverage you have. You may have to add higher limits to fully protect all of your belongings in storage. For items such as art, jewelry, antiques, furs, or other expensive items, you may have to discuss floater policies with your Massachusetts Insurance agent.

For your own records in case of a disaster, you should have an inventory of all the items you have in storage, or in safety deposit boxes. This will help you determine what you are missing (if this should be the case) and will also help to determine the amount of insurance coverage you need.

When choosing the proper storage facility for your needs, keep the following tips in mind:

• Look for a secure facility.
• Consider the safety of the immediate area surrounding the facility.
• Look for a unit with climate control options.
• Select a company that offers insurance along with their space.
• Make sure the storage facility is clean and well maintained.
• Check out the reputation of the storage company.

Discuss your Massachusetts Homeowner’s Insurance or Massachusetts Renter’s Insurance off-premises coverage with your MA insurance agent. At Encharter Insurance, agents can discuss your inventory with you and recommend the best limits, as well as inform you of what you may not be covered from. If you have belongings in storage already, don’t wait to discuss your policy coverage with your MA insurance agent. You never know what the future may bring! Also check out our new coverage for New Jersey insurance!

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