If you house your personal property in storage, you may need extra protection.
A storage facility can be a great way to free up space in your home while keeping your belongings accessible. Storage facilities are popular, but even under lock and eye, you may want to have additional protection in place. Despite the name of the policy, your homeowners insurance can protect those items from certain perils.
Personal Property Coverage
Homeowners insurance typically includes personal property coverage. This helps to protect your belongings, which may include clothes, appliances, electronics, and furniture from certain risks up to the limits of your policy. Your policy may protect your belongings whether they are on your property or away from home. Covered perils typically include fire, lightning, theft, and vandalism.
Limits
Many homeowners insurance policies have lower limits on off-premises coverage for personal property, including belongings in storage. As a result, your items away from home are exposed – leaving you with hefty financial risk.
Solutions
If the value of your stored items is significantly more than your off-premises coverage, you may want to consider protecting your possessions further.
- Increase coverage limits – If you have possessions with a higher value than what your current policy is offering, it’s time to raise your coverage limits.
- Increases coverage for high-value items – If you have items that are costly, such as art or jewelry, in storage, you may want to purchase scheduled personal property specifically to protect those items.
Contact your insurer to determine the right homeowners insurance limits and coverage that best suit your needs, budget, and property. Visit Aimpro Insurance, serving individuals, families, and businesses in Phoenix and the surrounding Arizona area.
