Wondering if you need insurance to rent a storage unit? Learn more below about storage insurance policies, what’s covered, and more in these frequently asked questions about self storage insurance!
Do All Storage Units Require Insurance?
Yes. To rent a storage unit at Extra Space Storage, you must have an active insurance policy that covers the items you store. Our Customer Protection Plan (CPP) is the easiest and most comprehensive way to meet this requirement. CPP offers custom storage protection with no deductible, full policy coverage, and broad protection designed specifically for the risks associated with self storage.
While you may have coverage through a homeowners or renters insurance policy, those policies often include deductibles, exclusions, or limited protection for items stored away from your home. Coverage varies widely, so be sure to check with your insurance carrier to confirm what’s included and if your items will be covered in storage.
Can I Get Storage Insurance from a Self Storage Company?
Yes. Extra Space Storage offers Customer Protection Plans that provide affordable, storage‑specific coverage starting at a low monthly cost. Plan options may vary by state, and you can choose the coverage amount that fits your needs when renting online or at your local facility.
What Does Storage Insurance Cover?
Extra Space Storage’s Customer Protection Plan (CPP) provides storage coverage with no deductible, covering damage to your belongings from accidental events such as fire, water damage, burglary, and more. CPP also provides coverage for vehicle storage, with some additional details to note. Personal property kept inside any vehicle is always protected. If you store a vehicle inside an enclosed storage unit, the vehicle itself is covered up to your chosen policy limit. Vehicles stored in outdoor parking spaces aren’t covered by CPP, but any personal items kept inside them still are.
How Much Is Storage Insurance?
The cost of storage insurance depends on the amount of coverage you choose. At Extra Space Storage, our Customer Protection Plans start at a low monthly price, with higher‑coverage options available for an additional cost. Coverage and pricing can vary by state and location, so it’s best to check with your local facility or select from the available options when renting online.
Does Homeowners Insurance Cover Storage Units?
Homeowners insurance may provide some coverage for items stored in a storage unit, but many policies limit protection for belongings kept off‑premises or require you to pay a deductible before a claim is processed. It’s important to review your policy or contact your insurance provider to confirm exactly what’s covered. If your policy offers limited protection, or if you prefer an option with no deductible and a simple, storage‑specific claims process, you can choose a Customer Protection Plan when renting with Extra Space Storage.
Does Renters Insurance Cover Storage Units?
Renters insurance often includes some off‑premises coverage, which may apply to items kept in a storage unit. However, many policies only cover a portion of your total limit when belongings are stored away from your home, and certain types of damage may not be included. It’s a good idea to review your policy details or speak with your insurance provider to confirm how much protection you have and whether supplemental coverage is recommended.
Do I Need Vehicle Storage Insurance?
When storing a vehicle with Extra Space Storage, it must remain registered and fully insured under your existing auto insurance policy. Our Customer Protection Plan (CPP) can provide added protection while your vehicle is stored. CPP covers any personal property kept inside the vehicle, and if the vehicle is stored inside an enclosed storage unit, it is covered up to your selected policy limit. Vehicles parked in outdoor storage spaces are not covered by CPP, though personal items inside them still are.
Does Storage Insurance Cover Natural Disasters?
At Extra Space Storage, our Customer Protection Plans cover natural disasters including flood, wind, rain, fire, hurricane, and tornado. If you plan to use homowners or renters insurance, or another third-party coverage option—make sure to double-check that coverage includes protection from natural disasters for off-premise items.
How Do I Value My Items?
It’s important to value your items appropriately to ensure adequate coverage. You can value your items by first taking stock of what items you’ll be storing and include information like initial cost of the item, purchase date, brand name, model, and pictures. Consider downloading tools like organizational apps or create an inventory. For high-value items, you’ll probably need to hire a certified appraiser who belongs to either the Appraisers Association of America (AAA), American Society of Appraisers (ASA), or the International Society of Appraisers (ISA). Your insurance company may also offer appraisal services for your items.
Is Storage Insurance Worth It?
Yes. Storage insurance is one of the best ways to protect your belongings while they’re in a storage unit. Even with helpful features like climate control, unexpected events can still happen, and having coverage gives you an added layer of protection. Insurance designed for storage, like our Customer Protection Plan, offers advantages such as no deductible, simple claims, and coverage tailored to the kinds of incidents that can occur in a storage environment.
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