Best Storage Unit Insurance (2022)

Storage unit insurance is designed to protect your items while they are in a self-storage facility. Some storage unit companies have made storage unit insurance a requirement, and companies like Safestor provide plans to fill that need. Most storage unit insurance plans are highly affordable and start at around six dollars a month.

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Chris Tepedino is a feature writer that has written extensively about home, life, and car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and C...

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Written by Chris Tepedino
Insurance Feature Writer Chris Tepedino

Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent Laura Walker

UPDATED: Jun 23, 2022

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The Rundown

  • Storage unit insurance covers your personal property and offers peace of mind as your items remain tucked away in a storage unit
  • A majority of storage unit companies now require storage unit insurance before they can hold your items
  • Storage unit insurance is highly affordable with rates starting as low as six dollars a month

One in eleven American households owns self-storage space. However, many have yet to invest in self-storage insurance. As many self-storage companies began to buckle down on requiring storage unit insurance,  storage unit renters need to find the right coverage at the right price.

From Safestor to Progressive insurance for storage units, there are a handful of options to choose from. In this article, we will be reviewing the best storage unit insurance companies available to help make your decision easier.

Before you make up your mind about getting storage unit insurance, enter your ZIP code and get a free insurance quote.

What is storage unit insurance?

Storage unit insurance can be defined as coverage for your personal property while they’re kept in a rented a storage facility. From antique jewelry to vintage clothing, items in storage often have a higher value than many people realize.

It may not seem like it’s necessary, but storage unit rental insurance gives you peace of mind while your personal items are away from your home.

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How much does storage unit insurance typically cost?

One of the most surprising things for many people is that storage unit insurance is very affordable. Most plans start at around six dollars a month. However, the pricing is based on the coverage amount listed for the items you will be storing. Coverage typically starts at $1,000, and the cost of the coverage will go up as the value of the items being insured increases.

When it comes to deductibles for storage unit insurance, the amount generally ranges between $100 and $1,000. A deductible of $500 is the most common choice. The deductible is the amount you’ll be responsible for before the insurance policy will kick in. The lower the deductible, the higher the monthly rate will be for your storage unit insurance.

Why would I need storage unit insurance?

According to the Self Storage Association, Americans collectively have around 1.875 billion square feet of personal storage. That’s a lot of personal property that often isn’t insured properly.

In addition to the fact that protecting your things while they are in storage is just a good idea, you may actually be required to buy storage unit insurance. Nowadays, most storage unit companies will require you to purchase storage unit insurance before you can move your items into the unit.

What does storage unit insurance cover?

Storage unit insurance will typically cover most of your belongings. From clothing to jewelry, the items you put inside of a storage unit that has storage insurance are protected against most risks. You will be reimbursed for these items if they’re lost or damaged due to:

  • Theft
  • Damage that is done by insects or rodents
  • Misplaced or missing items
  • Natural disasters, such as a flood or fire

From collectibles to your lucky five-dollar shirt, everything can be kept safe with storage unit insurance. However, be sure you read the policy carefully and check for exclusions.

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What does storage unit insurance not cover?

Like all insurance policies, there are exclusions to a storage unit policy. Make sure you have read and understood the limitations of the policy.

If you’ve ever wondered if you should get storage unit insurance on a car that doesn’t run, the answer is no. Storage unit insurance will not cover a vehicle in storage, whether it runs or not.

However, if your vehicle is in storage and it were to be damaged by an unexpected event, such as a fire or a hurricane, comprehensive car insurance will cover you. It’s possible to get a car insurance policy specifically designed for a car that’s in storage providing comprehensive-only coverage. Bear in mind that this type of coverage isn’t enough to drive legally.

What type of insurance is required for a storage unit?

A self-storage unit needs tenant insurance. Tenant insurance can cover the items that are kept in your storage unit with limitations. This type of storage unit insurance will protect the policyholder’s items and cover them in the event of a theft, burglary, fire, windstorm, hurricane, or other unexpected loss.

Commercial insurance, on the other hand, is another option that may not apply to you, but it is also available. Commercial insurance is generally used for businesses or storage unit companies. It can cover damage done to the building during the event of a natural disaster and many other unexpected events with limitations.

One of the biggest differences between the two options is that tenant storage unit insurance is made for individual renters, while commercial storage unit insurance is designed to protect the property of large businesses and organizations.

Does renters insurance cover storage units?

If you have renters insurance, there is a chance that your policy will cover your items even while they are not in your home.

Renters insurance protects your items from theft and damage in a home that you are renting. That coverage may extend to items that are kept in storage, even at a different location. Be sure to check with your insurance company, however, before making assumptions.

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The Three Best Storage Unit Insurance Companies

Cheap storage unit insurance available from several companies. There are a few companies that offer a storage unit insurance policy, and other options for a policy that extends to your storage unit. Let’s start with three companies that write policies specifically for storage units.

1. MiniCo. – This pay-as-you-go storage unit insurance company is one of the largest in the country. It offers two main insurance programs, the Pay-With-Rent and TenantOne Direct program. MiniCo. also received an A+ rating from the Better Business Bureau.

2. Safestor – As one of the largest storage unit insurance companies, Safestor, which is owned by Ponderosa Insurance Company, is a trusted choice for storage insurance. For as little as 20 cents a day, Safestor is available everywhere in the United States except Florida. This company is not a Better Business Bureau accredited company.

3. SnapNsure™ – This storage unit insurance company is known for its affordable rates and its popular NamedStorm Insurance deductible program. Through this program, special coverage is applied to your belongings if a natural disaster causes damage. This company is not a Better Business Bureau accredited company.

Each option offers storage unit renters its own unique benefits. Select the best one for your needs and budget.

Other options include major insurance companies, but you may need to buy renters insurance to be covered. Progressive, for example, doesn’t have a storage unit policy but does offer renters insurance, which can cover your property at a storage facility.

What’s the best storage unit insurance company for you?

Now that you know what storage unit insurance is, how it works, and the typical monthly rate, do you see the benefit of enrolling in storage unit insurance? If so, are you ready to select the best storage unit insurance for your needs? Just because your most prized possessions aren’t in your home, doesn’t mean they don’t deserve to be protected.

With the right storage unit insurance, you can get the best deals, great coverage, and rest assured that your belongings are safe wherever they are.

Looking for more information on storage insurance companies? Enter your ZIP code to get a free insurance quote today.

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