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7 Potentially life changing facts about home insurance and self storage units
By GYB Storage
We've all heard a story about insurance companies, a poor customer skims over a clause in the contract and family is financially ruined by an insurer refusing to pay the claim. This article will provide you with information and industry secrets on common pitfalls when using insurance and a self storage unit.
Self Storage units can be an incredibly useful service, whether it's to hold your household items while waiting those extra several months for a property purchase to settle, or a creative situation such as temporary travel or work arrangements, paying a small fee for secure storage can be a worthy investment. This is not to mention the small business applications before larger warehousing becomes viable.
However, when you are purchasing storage, please consider your current insurance agreement and the following 7 important facts.
1) Your current insurer for the items you want to place in storage may not cover you at all once you move the items into storage, you may therefore need temporary additional insurance.
2) The self storage facilities insurer may not cover you for all possible incidents. Read their communications as they may inform you to investigate your options regarding seeking more insurance.
3) If your insurer does cover you, they may require to be 'notified' (via phone), before you commence moving your items into storage.
4) If your insurer does cover you, they may not cover all item types at the self storage unit, the only way to be sure is to either read your extensive and tricky contact, or call them and ask for a verbal statement to the effect of your cover. Ensure to find out if the call is recorded, and write down the consultant name, and the time of the call along with your coverage information.
5) Valuable items such as jewelry, works of art, collectables and other things of this kind may be types of items that it is very hard to find an insurer to cover them at a storage facility as opposed to your normal address.
6) Even if your insurer agrees to cover you in a storage unit, optional 'extras' on the insurance, such as 'accidental damage' and other 'extras', that you have on your current contract may be excluded from the temporary storage coverage.
7) Before the insurer pays any claim, they may require some form of proof that an item existed, this can range from a strict criteria of a receipt of every item (ridiculous, isn't it), to a more reasonable requirement, verbatim "proof that the item existed". This could be a photograph and item description in a catalog for your home. If you have no current proof of anything you own, (I might offer... like many people!), surely creating a catalog of your home items and photographs couldn't be a negative thing for insurance purposes.
This information is provided on an 'as is' basis, always check your product disclosure statement with your particular insurer and storage provider to ensure your insurance is valid, and do not rely solely on the information in this article when making a decision. This article was communicated in the context of general information useful potentially used decision making, and not in the form of advice. We hope you self store and insure safely during your current move, travel, work, or whatever your current lifestyle situation.
This article was proudly provided by the customer support team at http://www.gybstorage.com.au
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