Self-Storage: What You Need To Protect Your Stuff

Dec 4, 2019, 1:09 PM

Mini-warehouse, self-storage… whatever you call it, it’s a place to put your stuff. If you’re renting a storage unit, your possessions are likely covered by your personal insurance policy — talk to your independent insurance agent to learn more about your policy. But if you own a mini-warehouse unit, you’re running a business. That’s something entirely different, and a Hastings Mutual specialty.

Our standard business coverage applies to many different industries, but there’s a few things we offer mini-warehouses that make them unique.

Liability for Damage to Customers’ Goods

This is the big one. It covers harm or destruction to personal items stored in a unit by a customer. This could be due to an accident or while items are being moved. If you need more storage space, you may sell or dispose of property to recover space that you can’t otherwise collect rent on. If there’s a loss of that property, it’s also covered by this liability endorsement.

Additional Coverages

Our mini-warehouse coverage also extends to accounts receivable, financial and other records stored on a computer, and even records only available in paper form — it might simply still be the best way to keep track of how your business is doing!

What to look for

Here’s what the Insurance Information Institute recommends to renters looking for a place for their stuff — and what mini-warehouse operators can keep in mind while improving their businesses.

Look for a secure facility.

Many facilities have signage on the road, but you’ll have to drive for a few moments or move past a security fence before you reach the actual storage site. It’s an extra level of protection, along with things like surveillance cameras.

Look for a unit with climate control.

Most of the time, a storage facility is going to be in pretty much the conditions you’re used to at your home (same temperature, same humidity). But accidents do happen; that’s why you have an insurance policy, after all. Sometimes it gets especially cold or warm, but the mini-warehouse business owner should have a way to keep your possessions at the right temperature no matter what.

Look for a clean and well-maintained facility.

If the storage unit is in poor shape, it could be home to mice, insects, and more. You’ll also want to make sure there’s little risk of environmental danger, like flooding from rain or melted snow. 

Keeping your stuff safe and dry seems obvious, but not checking your mini-warehouse site before putting your possessions in storage could cost you time and money. The same is true for self-storage facility owners who don’t protect their business with a Hastings Mutual business policy.

Talk to your local independent insurance agent about the self-storage solution that’s right for your business.

The Mutual Understanding blog and Hastings Mutual videos are made available for educational purposes only. The information referred to is not an official company statement, corporate policy, or offer of coverage. Refer to your insurance policy for specific coverage. There is no representation as to the accuracy or completeness of any information found by following any link on this site. Please contact your local independent insurance agent with further questions and for more details on any insurance policy-related information you read here.

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