Self-Storage Protection Agreement

Are you aware that a storage facility's insurance doesn't cover the items stored in the facility? In fact, almost all self-storage facilities will request the clients to purchase their own insurance to cover the items they store. But the self-storage protection agreement allows the storage provider to assume limited responsibility for the items being stored in the facility within the State of California. Although the self-storage protection agreement isn't an insurance policy, it will let the storage provider reimburse up to $2,500 to the customer in case the stored items are damaged or lost due to many conditions. It is an inexpensive way to meet the insurance requirements in the rental agreement between the storage provider and customer. Here are some of the conditions that are covered under this agreement.

  • Malicious mischief, vandalism and theft
  • Smoke, fire, and explosions
  • Water damage, roof leak - But loss or damage of the stored items due to floods, overflows from sewage backups, surface water, and underground water are not covered in this agreement.
  • The collapse of the storage building
  • Impact of vehicles, missiles, or aircrafts
  • Windstorms that would first cause damage to the storage building
  • Vermin, rodent, moth, or insect damages - up to a maximum of $500

There are no deductibles involved in this scheme. The client will receive reimbursements from the very first dollar of the loss. The customer can terminate this agreement at any time he or she wishes by providing proof of his/her own insurance. On the other hand, if you already have insurance for the self-storage items, you can compare your plan with the sums offered by the self-storage protection agreement. Most insurance policies come with deductibles. Hence, most policies don't pay the customer until a deductible as high as $2,500 - $5,000 has been met. Most of the insurance policies seem to be costlier than the self-storage protection agreement and be less of a value to the customer.