Your home contents insurance protects you financially against theft, loss or damage of domestic goods and personal possessions within your home. But the coverage may not include things that you have stored off your property, in, for example, a lock-up or storage unit. So how do you protect yourself from the risk of loss, theft or damage to your stored domestic goods?
How do I protect possessions that I take out of the house?
Some home contents policies will provide coverage for items that you take out of the house, for example on holiday. You may have to pay extra for such coverage, and it’s best to check with your home contents insurer.
The situation is different for domestic goods stored outside the home. Your home contents insurance might cover things kept in a shed on your property. But it is less likely that the coverage will include domestic goods kept in a lock-up, garage or storage unit that is not on your property. Again, a call to your home contents insurer can clear that up.
Is home contents insurance compulsory?
There is nothing forcing you to take out home contents insurance. But most people do insure their things at home. If the worst happens and your home is damaged by a storm, fire or a flood, your home contents insurance payout will help you to replace ruined furniture, appliances, devices, clothing, bedding and other possessions.
Learn more about home contents insurance from Citizen’s Advice.
Can I save money by underinsuring?
Underinsuring – that is, not declaring the full value of your home contents – will reduce how much you pay for your insurance. But it means that when you claim, you won’t get the full value of what you’ve lost. Check your home contents insurance policy to ensure it still meets your needs. If you’ve acquired a lot more stuff since you took out the policy, you may be underinsured.
The best way to save money on your home contents insurance, and indeed on any insurance, is to regularly review your policy and shop around to make sure you are getting a deal that is right for you.
How do I protect furniture stored in a shed or garage?
When you store furniture and other items in an unheated and uninsulated shed or garage on your property, they will be covered by your contents insurance, but you’ll be exposing your things to extremes of temperature and humidity. This can cause your stored furniture to deteriorate, and it’s unlikely that you’ll be successful in making a claim for furniture damaged by storage conditions. So if you think you’re going to be storing goods for longer than a few months, consider instead a self-storage unit.
Is specialist self-storage cover worth it?
Reputable storage companies, like those in our self-storage directory, will require you to insure your stored goods. Some storage companies automatically include insurance in their monthly bills. You don’t have to take the insurance that your self-storage company offers. You’re free to shop around for self-storage insurance if you want, and this can give you a better deal, saving you money on your storage bill each month. We’d recommend getting three quotes – including one from us – and comparing them.
