coverage by self storage insurance




Is There Property That Wouldn’t Be Covered in My Self-Storage Insurance Policy?

As a business owner, you have insurance that covers many of the same risks that other businesses have associated with premise liability. People can get hurt on your property as they would a retail store. Legitimate or not, people will sue a storage facility over the slightest injury. However, storage facilities create risks to an owner that your current insurance is not likely to cover. For this reason, you need specific self-storage insurance covering these risks. Is There Property That Wouldn’t Be Covered in My Self-Storage Insurance Policy?

You need coverage for toxic cleanup 

Every renter signs a document explaining what they cannot store in their locker, but this seldom stops certain people from doing so, and as you know, it is difficult, if not impossible, to enforce. After the locker is abandoned, you may find toxic chemicals left behind and perhaps even spillage. Many of these chemicals are too dangerous to clean up yourself and will require professional attention. The expense involved in hiring a company for this will likely give you sticker shock. However, a policy from StorInsure can protect you from this unexpected expense. 

You need coverage for delinquent accounts 

The exact procedure to handle delinquent accounts will depend upon the state where you live, but every state has a step-by-step procedure. In general, when they get behind in their rent, you will put in motion a process where an auction will be held, and everything in the unit will be sold to the highest bidder. People will sue a storage facility over this. If you were to make a single mistake during the process of disposing of the contents of the unit, you could lose a lawsuit. For that matter, you could have done everything correctly and still face legal action. Insurance for self-storage can cover this risk to your business. 

The examples above are only two instances where your current business insurance policy is not likely to have coverage. You can talk to an agent at StorInsure today. They specialize in this type of coverage.