The Importance of Getting Contents Insurance When Storing Items in Self Storage

You’ve packed all your boxes, decided what items to keep and throw out and you’ve found a storage facility to store all your items. Don’t forget to get contents insurance for your stored goods.

Self storage insurance is one option to ensure the value of your goods are protected while in storage. If it’s worth storing, it’s worth insuring!

Why you should get insurance

Self storage insurance caters for some defined events that are out of the control of the self storage facility. It’s highly recommended that you get adequate insurance to cover your items in storage in the event of loss or damage and that you read any applicable insurance product disclosure statement (PDS).

Types of insurance

There are three types of insurance:

1. Self storage insurance. This is a convenient way to insure your goods in storage.

2. Existing insurance through your home and contents or business insurance. Each insurance company and policy will have different requirements and coverage. Please check with your insurance company whether your existing policy covers your goods while in storage.

3. Self insurance. Self insurance means you accept any loss or damage to your stored goods at your own risk and expense. You will have no claim against the self storage facility if your goods are damaged.

Important note: If you store your goods with your family or friends and something happens, your items will not be covered under their household policy. This means you still run the risk of losing your goods.

What is covered under the self storage insurance?

At Rent a Space self storage, we have negotiated storage contents insurance with AON Insurance (underwritten by QBE) and we act as the distributor to customers for as little as $2 per $1,000 value per calendar month. Please read the PDS for policy details and more information.

moving boxes into self storage

How much are my goods covered for?

This will vary depending on the estimated market value based on the actual cost of replacement and again will depend on the PDS of the insurer. You should always check with the insurer that you have chosen adequate cover for your goods in storage. We recommend storing any valuables, such as jewellery, coin collections, paintings or other precious items in a bank safe security box.

At Rent a Space, we offer state-of-the-art security, individually alarmed units, individual access codes, back to base 24hr alarm monitoring, CCTV cameras and security on call. While we maintain our buildings to the highest standard, we strongly recommend you consider for your goods for added peace of mind, as all goods stored are at the risk of the storer.

If you would like to learn more about insurance for your goods in storage, speak to your Rent a Space store manager.

Rent A Space Management Pty Ltd act as a distributor of Aon Risk Services Australia Limited ABN 17 000 434 720 AFSL 241141 (Aon) in issuing or arranging Customer Storage Insurance underwritten by QBE Insurance (Australia) Limited ABN 78 003 191 035. We receive the full amount paid by you for access to the storage insurance benefits that we have arranged under our policy of insurance with QBE. Please contact us if you have any queries in the meantime”

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