Dave Haman

Feb 22 2016

Why You Should Consider Paying for Storage Insurance

Why You Should Consider Paying for Storage Insurance

You’ve cleaned out your place and just can’t bring yourself to throw away your old stuff–clothes, decorations, furniture, computers, or just about anything else. So you shell out a few bucks each month for a storage unit, thinking one day you’ll have either a larger home or an epic garage sale.

Regardless of the reason, self-storage facility use is prevalent in the United States. Following are a few tips to consider when moving some of your belongings into storage:

  • Many storage facilities require proof of insurance. If you don’t have insurance, they may require you to purchase a policy offered through the facility.
  • Should you choose to purchase insurance from the facility, certain items are likely not covered. Items commonly not covered include vehicles of all types, paper products such as records and receipts, and valuable items such as jewelry and antiques.
  • Most home insurance policies limit coverage for items stored away from the residence. Limited coverage may be increased for an additional premium.
  • Items kept in storage are susceptible to damage from neglect, poor construction of the facility, infestation, contamination, and other losses that may be limited or not covered by your insurance.

For more questions about storage units and insurance, or any insurance needs, contact Hills Insurance Agency. We’d be happy to assist you.

Reprinted with permission, The Mines Press, Inc. Volume 43, Issue 5
Insurance products are not a deposit, not FDIC insured, not insured by any federal government agency, carry no bank guarantee, and may go down in value.
Dave Haman

About Dave Haman

Dave Haman is a Vice President, Insurance Agency Manager at Hills Bank’s Iowa City Gilbert Street location. He has been at Hills Bank since 1994 helping customers with their insurance needs. Dave can be reached at dave_haman@hillsbank.com.

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