Does Renter’s Insurance Cover Storage Units?

If you rent an apartment or home, chances are you already have renter’s insurance to protect your belongings. But what happens if you need to store some of those belongings in a self-storage unit? Does renter’s insurance cover storage units? The answer is: it depends. Understanding how renter’s insurance applies to self-storage can help you make informed decisions about protecting your stored belongings. This time on the Albuquerque Self Storage blog we break down what’s typically covered, what’s not, and whether you need additional coverage.

Does Renter’s Insurance Cover Storage Units?

In many cases, renter’s insurance does provide some coverage for items stored outside your rental home, including in a self-storage unit. However, this coverage is usually limited in two ways:

1. Coverage Percentage – Most renter’s insurance policies cover off-premises belongings at a reduced amount, often around 10% of your total coverage limit. For example, if your policy covers $30,000 in personal belongings, only $3,000 may be available for items stored in a storage unit. 
2. Covered Events – Your policy likely only covers specific types of damage or loss, such as theft, fire, or vandalism. Damage caused by floods, mold, pests, or improper storage may not be included. 

Because of these limitations, relying solely on renter’s insurance for storage unit protection may not be enough, especially if you’re storing valuable or irreplaceable items.

What Events Does Renter’s Insurance Cover in a Storage Unit?

Most renter’s insurance policies cover losses from specific events, known as “covered perils.” If your belongings in a storage unit are damaged or lost due to one of these events, your insurance may help pay for repairs or replacements.

Common covered perils include:

• Fire or smoke damage
• Theft or vandalism
• Lightning strikes
• Windstorms and hail
• Explosions
• Damage from vehicles or aircraft

However, policies vary by provider, so it’s important to read the fine print or speak with your insurance company to confirm what’s covered.

What’s Not Covered by Renter’s Insurance?

Just as important as knowing what’s covered is understanding what isn’t covered. Standard renter’s insurance policies often exclude certain risks in storage units, including:

Floods and Water Damage – If your unit is affected by a flood, most standard renter’s insurance policies won’t cover it. You may need separate flood insurance.
Mold and Mildew – Damage from long-term exposure to moisture is typically not covered.
Pest Infestations – If rodents, insects, or other pests damage your items, your insurance won’t reimburse you.
Neglect or Improper Storage – If damage occurs due to poor packing, like fragile items breaking from improper stacking, you may not be covered.

If you’re storing valuable items, it’s crucial to take proper precautions to prevent damage and consider additional insurance options.

When Should You Consider Additional Storage Insurance?

If the coverage limits of your renter’s insurance aren’t enough, or if you’re worried about uncovered risks, purchasing storage unit insurance can provide extra protection.

Storage insurance may be worth it if:

• You’re storing high-value items like electronics, antiques, or collectibles. 
• Your renter’s insurance has a low off-premises coverage limit. 
• You live in an area prone to floods or extreme weather. 
• You want coverage for risks like mold, pests, or accidental damage. 

Many self-storage facilities offer their own insurance policies, or you can check with your provider for an endorsement (rider) that extends your renter’s insurance coverage.

How to Make Sure Your Stored Items Are Protected

If you plan to use renter’s insurance for your storage unit, take the following steps to maximize your protection:

Review Your Policy – Check how much coverage is available for off-premises storage and what perils are included.
Create an Inventory – List and photograph the items you’re storing in case you need to file a claim.
Choose a Climate-Controlled Unit – This can help protect against humidity, mold, and extreme temperatures.
Use Pest-Resistant Storage Methods – Seal items in plastic bins to prevent rodent and insect damage.
Consider Additional Coverage – If your renter’s insurance coverage isn’t enough, look into storage insurance options.

Is Renter’s Insurance Enough for Self-Storage?

While renter’s insurance does provide some protection for stored belongings, it often comes with coverage limits and exclusions that may not fully protect your items. If you’re storing anything valuable, fragile, or long-term, consider additional storage insurance for peace of mind.

Before renting a storage unit, take the time to review your renter’s insurance policy and explore additional coverage options. That way, you can confidently store your belongings, knowing they’re protected from unexpected risks.