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Why do some Self Storage operators insist on a minimum sum insured ?

We have been contacted by a number of customers who have expressed their displeasure that some self storage companies insisted they insure their goods for a minimum of £ 1,000, as in the case with Safestore, or even £ 2,000 with some others, even if their goods are only worth £ 500 or so.

Apart from having to pay the same amount of premium as if the goods were worth £ 1,000 or £ 2,000 but should your goods be totally destroyed, Insurers will only pay you £ 500. They will not pay you £ 1,000 or £ 2,000 even though you paid the same amount of premium as if you had insured your goods for these values.

Some self storage providers go even further and insist you can only buy their insurance !!!!

With us you only pay the premium due based on the value of your goods - no minimum premium or minimum sum insured. Just one more reason to use Store and Insure.