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What is Storage Unit Insurance?

Storage units in Vermont provide practical solutions if you need additional space for belongings, but belongings shouldn’t be put into units without considering the risk of loss. One way to protect against the risk of damage, destruction and loss of stored belongings is by purchasing storage unit insurance.

Storage unit insurance is specialized renters insurance for belongings that are kept in storage spaces. Because the insurance is somewhat specialized, residents should work with an insurance agent who knows these policies well when selecting coverage.

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Who in Vermont Should Carry Renters Insurance for Storage Units?

Most people who have a rented storage unit in Vermont ought to consider purchasing renters insurance for their unit. This includes state residents, seasonal part-timers in the state, and out-of-state college students. Moreover, this also includes people who rent a fixed storage unit and those who have a portable unit (e.g. for moving).

For instance, renters insurance could be helpful if using a storage unit to:

  • Temporarily store belongings shortly before and after a move
  • Temporarily store belongings while working out-of-state
  • Seasonally store snowmobiles, boats and ATVs when not in use
  • Seasonally store dorm room belongings during summer breaks
  • Indefinitely store belongings after downsizing


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Are Belongings in Storage Units Covered by Homeowners Insurance?

Personal property coverage is a common feature of homeowners insurance policies, and the coverage normally protects belongings against various causes of damage, destruction and loss. Whether personal property coverage extends to belongings kept in a storage unit depends on the specifics of a policy, however.

Personal property coverage that provides “worldwide coverage” usually will cover belongings that are in a storage unit. Worldwide coverage generally means that the belongings are covered in most places of the world, including nearby storage units.

Not all homeowners insurance policies have personal property coverage that affords worldwide protection, however. If a homeowners policy doesn’t have worldwide personal property coverage, very limited coverage might be provided for off-site belongings like those in a storage unit. The limited coverage could easily be less than the value of belongings that are in a storage unit.

The same general principles hold true for condo insurance and standard renters insurance. These policies might provide worldwide personal property coverage that extends protection to storage units, or they might not.

When a homeowners insurance policy doesn’t provide adequate protection for belongings kept in a storage unit, renters insurance for storage units may be able to fill in the gap. An insurance agent who specializes in storage unit policies and homeowners policies can help determine whether storage unit coverage is needed based on a homeowners policy's terms.

How Much Are Premiums for Storage Unit Coverage?

The premiums that insurance companies charge when underwriting renters insurance for storage units vary according to a number of details. One of the largest of which is the limit of the coverage. Higher limits typically come with somewhat higher premiums. 

The easiest way to determine how much storage unit coverage will cost in a particular situation is by comparing options with an independent insurance agent. Independent agents are able to request quotes from multiple insurance companies, which makes checking different policies' rates easy to do.

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How Can Vermont Residents Get Storage Unit Insurance?

For help insuring belongings that are kept in a Vermont storage unit, contact the independent insurance agents at Paige & Campbell Insurance. Our agents have worked with many residents to insure their belongings, and we have the expertise necessary to find a storage unit insurance policy that’ll provide you with robust coverage for belongings that are in storage. With our assistance, you can be confident that your belongings are well protected even when they’re not at your residence.

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