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If you live in a Scottsdale, AZ condo, you may have a need for extra storage space. Self-storage units provide an increasingly popular solution. However, it’s important to make sure your valuables are adequately insured. Some storage companies even require coverage. Condominium insurance might cover your belongings, but certain exceptions and limitations may apply.
What’s Covered?
Generally, most condo policies extend their coverage to possessions in self-storage lockers. This is true if your insurance supplies “off-premises coverage.” To qualify for reimbursement, the loss must be caused by a covered event, like vandalism, high winds, or theft. Some types of damage are excluded, such as harm inflicted by pests. The same goes for certain natural disasters, like earthquakes.
Limitations
Remember that condo policies usually have lower claim limits for items stored outside the condominium unit. Different limits might apply to specific types of belongings, like jewelry or artwork. Think about asking your agent for details before storing particularly valuable items. You could expand coverage by adding an endorsement to your policy, increasing your total property coverage amount, or obtaining storage-specific insurance.
Vehicles
Some people use self-storage units to store seasonal or antique autos. Remember that condominium insurance won’t cover a vehicle, regardless of how it becomes damaged or stolen. You’ll probably need a comprehensive auto policy to protect it. When you have a car loan, the bank will likely require this coverage even when your vehicle is being stored.
If you’re looking for a dependable condo policy to insure your belongings in self-storage, contact Alliance Insurance Partners. The friendly staff at our Scottsdale, AZ agency will help you find the most suitable coverage option. Please visit us or call 602-427-4300 to request a free quote today.
