Contents in storage: insurance for your property away from home

Are you downsizing, in between homes, or needing to store your personal property for the short-term or long-term in a storage facility?  If yes, you should consider getting Contents in Storage Insurance. This type of insurance protects your personal property against various perils, as well as providing liability coverage. Most professional storage facilities in BC advise that clients have this insurance in place.

FAQs about contents in storage insurance

Q: Will my house or condo insurance policy cover my contents in storage?

A:  Maybe.  You need to advise your insurance broker that you have contents in storage.  Your broker will then inform you of the additional insurance premium (if any) to extend coverage for your contents in storage.

 

Q: What are the drawbacks of insuring my contents in storage under my home/condo policy?

A:  Should you make a claim on your contents in storage, this will affect the insurance claims history  of your primary residence. Also, condo/home insurance deductibles are typically $500 to $1,000.  Storage policy deductibles range from $50 to $250.

 

Q: What if I don’t have home/condo insurance or I want to insure my stored contents separately?  Can I still insure my property in storage?

A:  Yes.  A “standalone” contents in storage policy can be set up.

 

Q: What types of coverage are included in a storage policy?

A:  Typical coverages:  Contents ($ limit determined by purchaser), $1,000,000 premises liability, and $100,000 tenants legal liability.

 

Q: Can I insure my business equipment or stock with this type of storage policy?

A:  No. Business equipment and stock must be covered insured under a business insurance policy.  We can arrange a quote for you.

 

Q: Do I have to buy a 12-month storage policy?

A:  No, you can buy as little as 1-month coverage.

 

Q: What is a typical insurance deductible in a storage policy?

A:   $50 or $250 (By comparison, a typical condo/home insurance deductible is $500 to $1,000).

 

Q: How do I apply for a storage policy?

A:  Complete this quote request form and submit it or email to Habitat Insurance.  A quote will typically be provided on the same or next business day.

 

Would you like a quote or more information about storage insurance in British Columbia?  Please contact Habitat Insurance Agencies at 604-438-5241 or email.  One of our professional brokers will be happy to assist you. 

Disclaimer:  This article is designed to provide information for personal use only.  Please consult a professional insurance broker for professional advice. Habitat Insurance Agencies Ltd is not responsible for any legal disputes of this matter.