When you insure your stored goods with Store and Insure, you’ll get a policy document which describes how your insurance works. We admit, it’s not riveting reading, and we’d always recommend taking time to understand what your insurance policy has to offer.
Terms that you will find in your self-storage insurance policy
We try to keep the wording of our policy accessible and easy to understand. Having said that, the insurance world, just like most sectors, has its own language and jargon. Here are some explanations of the terms we use:
Damage: this term means harm, but in an insurance context, it includes physical loss as well.
Event: any one act, incident, occurrence or event, or series of acts, incidents, occurrences or events that are a consequence of or attributable to the same single cause.
Excess: your policy may say that in case of a claim, you are responsible for some of the sum. The excess will be taken off your payout.
Insured goods: the stored domestic goods that you have said you want to be covered by your insurance policy.
Period of insurance: the time your stored domestic goods are insured.
Replacement cost: what you would pay to buy the item again.
Self-storage location: a secure storage facility that offers do-it-yourself storage space. An individual self-storage unit is a fully enclosed locked container, room, compartment and/or locker used for storage to which you have the right to exclusive access.
Sum insured: the total value of the property covered that you have declared. The sum insured will be shown on the Schedule of Insurance.
Transit: your insurance with Store and Insure provides coverage while your domestic goods are travelling to and from your self-storage location as long as they are in an attended, enclosed car or commercial vehicle.
Learn more about insurance from Citizens Advice.
What is covered by my self-storage insurance?
The following types of domestic goods and personal possessions will come under your self-storage insurance:
- furniture
- household goods
- personal effects
- electrical items, computers, TVs and audio equipment
- books, records, CDs and DVDs
- sporting equipment
- jewellery and watches up to £500
- mobile telephones up to £500
There are some goods that we won’t insure, however. These include flammable items, plants and motor vehicles.
Your possessions will be covered by our self-storage insurance while they are in storage, and while they are in transit to and from the storage location.
Why do I need self-storage insurance?
The self-storage sector has best practice guidance, which includes a requirement for clients to insure their stored goods. Having self-storage insurance means that you can claim quickly if your stored domestic items are damaged or destroyed by a fire or if your self-storage unit is broken into by thieves.
Many self-storage companies have their own insurance offering, but you are free to shop around and get a better deal, and you could save money by switching to us. It’s quick and simple to get a quote for self-storage insurance from Store and Insure. Our pricing is clear, and you’ll get a total upfront cost from the start, so you can easily compare what you’d pay with us with what you are paying your current provider. We are also registered and authorised by the Financial Conduct Authority (FCA).
