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Matt and Bethany, Charleston SC

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STORAGE CONTENTS INSURANCE

A storage contents insurance policy will keep your belongings, called contents by the insurance companies, safe and secure against losses. It is true that whenever you pick up a lease as a tenant you need to purchase a renters insurance policy to cover your contents. And, that is also the case when you rent a storage unit for your own belongings.

The nature of storage or building contents insurance quotes, and how it differs from residential contents insurance, affects the terms of the policies. There are two kinds of storage, and therefore a couple kinds of storage contents insurance. There is the self storage variety that is housed in a storage facility. Then there are also free-standing, mobile storage units. In addition, you may be renting out a garage for storage while you find a bigger place, or what not. You also need contents insurance on that also.

What You Value

Obviously you value the items you are storing, or else you would have tossed them rather than putting them into a store house. So, do take the time to purchase storage contents insurance. It is pretty much a matter of determining the actual value, or used value of all of your contents, when you are going ahead with buying a storage contents insurance policy for your belongings.

It is important that you either catalog, index or otherwise take photos or videos of all of your belongings that you will be buying contents insurance on. This will help in the event of a fire, water damage, or theft of your belongings, that requires you to make a claim on your insurance. When you are making your inventory of all of your items in the unit, you will want to make sure you include everything. And, be specific.

Taking Detailed Notes

Storage contents insurance will cover your items up to the value that you specify. The limit of coverage -- maximum that your coverage will pay -- will directly affect your premium for the coverage. This means that if you say your items are worth $2,000, then you will pay a much lower premium than another customer who is insuring their unit of belongings to $30,000. It just depends on what your needs are, and meeting or exceeding those needs in the case of a major loss. It could be that you have only a few items in your unit, but they are your prized possessions, which are very expensive: your tools. It is important to understand how much coverage you need based on how much it would cost to replace those items, not for how much they would resell.

Storage contents insurance can cover you through and indemnity policy or through a new for used policy. Obviously, if you have a house's worth of antiques in a unit, you will want storage contents insurance that will reimburse you at the actual value, which is indemnity coverage. You may even want to look into purchasing extra coverage through a specialty carrier if they are supremely valuable.

Coverage Types

Indemnity coverage pays you the value of your used items. If you purchase new for used coverage, you will be reimbursed the cash amount that it is worth if you were to re-sell the item. If, on the other hand, you need to purchase a television, for instance, you might want new for used coverage. This would ensure that even if you had an old vacuum tube television, you would receive a flat screen that can actually be used to get real reception in our present broadcast environment. Most insurers will probably dissuade you from indemnity coverage. Instead, they will steer you more toward new for used coverage for your very own policy coverage.

Details of Coverage

Look to change up the pricing by playing with the variables over which you do have control. For one thing, the premium reflects the stated limits, deductibles in its pricing. This can be altered if, for instance, you figure there will not be very big likelihood of any loss any time soon. So, you may instead opt to save your money by paying lower premiums. This would occur if you were to increase your deductibles to the point where you could afford to pay them at a moment's notice. And, it would help you by keeping your annual premiums lower.

Storage contents insurance is as important for you if you are renting a unit as it is for an apartment dweller to carry renters coverage. It will cover your belongings up to the maximum limit that you specify in the policy that you buy to protect your belongings. Make sure that you also pay much mind to the deductibles, premium and the maximum coverage limits. That is how you will decide the parameters of coverage, and the pricing.