Storage insurance – also known as self-storage insurance – is a policy that covers your belongings if you don’t keep them at home or in a business property. Usually, this means anything you’re keeping in a storage unit – for instance, extra furniture, clothing or collectibles.
It’s possible that your possessions will already be covered by your home insurance contents cover. But in most cases, if you’re keeping your belongings in storage for a while, they’ll need additional protection. That’s where specialist storage insurance comes in.
Do I need storage insurance?
Yes. Most storage companies will only let you keep your belongings in storage if you have insurance set up – but it’s still important to get cover even if this isn’t a requirement.
Storage companies will have their own insurance – but this only covers their liability, not your belongings. This means that the storage company is protected if they’re negligent with your goods and they get damaged. However, there are other risks you should be aware of, such as fire, earthquake, subsidence, storm, floods, sprinkler damage or vandalism.
A good storage insurance policy should protect you against all of these dangers. If you’re storing clothes or soft furnishings, you might also want to be insured against damage from moths and vermin.
Your insurer might have some rules about how you store your belongings – for instance, they could require you to keep your storage unit secured with a padlock, or to keep your belongings in waterproof containers. It’s important to keep to these rules – if you don’t, your insurance could be invalidated.
Does my home insurance contents cover include items in storage?
It’s possible that your home insurance contents cover will protect your belongings even if they’re not kept in your home. For instance, if you’re moving home, your contents cover might continue to include your furniture and personal items while they’re in the van.
If the move takes longer than expected, you might need to put some items in temporary storage – and in some cases, your home insurance will still cover them. But there’s usually a time limit, often around seven days. After that, they’re no longer insured.
If you have items in long-term storage, chances are they won’t be covered by your home insurance. Home insurance will also usually only cover items outside the home up to a certain amount, which might not be enough if you’re keeping expensive objects in a storage unit.
If you’re relying on home insurance to protect your belongings when they’re in storage, make sure you read your policy document carefully – that way, you’ll know how much cover your belongings have when they’re not in your home. If the cover offered isn’t enough, you can always take out a dedicated storage insurance policy.
Does storage insurance cover a car or motorbike in storage?
In most cases, storage insurance isn’t enough to cover a car or motorbike that you’re keeping in storage. Vehicles are expensive, and most storage insurance policies will only cover you up to a certain amount, which might not be sufficient.
If your vehicle isn’t being used, you can avoid having to pay insurance by giving a Statutory Off-Road Notification or SORN. But when a vehicle is in storage, it’s a good idea to keep it insured, even if it’s not on the road. That way, it’ll be covered against fire, theft, vandalism and damage.
Where can I get storage insurance?
When you buy storage space, the storage company might offer you their own insurance policy. It’s possible they’ll offer you a good deal, but just in case it always pays to shop around.
MoneySuperMarket doesn’t compare specialist storage insurance, but you can use our price comparison engine to find a home insurance contents cover policy that might cover your belongings when they’re in temporary storage.
Simply fill in a few details about yourself and your property, and we’ll do the rest. There are hundreds of deals available at your fingertips – just make sure you read the small print, so you know how much cover you’re getting.