Answer Yes, renters insurance typically covers your possessions wherever they are — including in a storage unit. Whether they’re in your home, car or anywhere in the world, your belongings can be covered under the personal property coverage in a standard renters insurance policy.
But renters insurance often comes with a limit on what’s called “off-premises coverage” — usually 10% of your personal possessions coverage. So if you select $30,000 worth of personal property coverage when you buy your policy, a 10% limit means your belongings would be covered up to $3,000. Extra coverage is often available.
There may also be sub-limits on certain kinds of property — jewelry and other valuable items, coins or firearms, for example. Extra coverage may be available.
Some renters insurance policies cover your stored property only against theft, but they won’t help repair or replace your belongings if they’re damaged or destroyed if your storage unit is hit by one of the perils covered in your policy, typically things like fire, leaks and vandalism. Some policies do cover both theft and damage. Earthquakes and floods are not covered unless you add special coverage. Damage caused by pests like rodents or bugs is typically not covered.
If you keep belongings in a storage unit, making an inventory of your stored items that includes their value, age and receipts where possible will be helpful if you ever need to file a renters insurance claim.
Some storage facilities require you to have insurance coverage for your stored items — either a renters or homeowners policy with personal property coverage. Some sell coverage, usually through a third-party insurer.
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