Thursday, April 24, 2014

The Importance of Self Storage Insurance

When you utilise self storage facilities for your storage needs, it is important to ensure that your facility is well equipped with anti-theft measures. Many customers actually forget or totally ignore security as they feel that nothing can go wrong is such a safe country like Singapore. However, when things happen, they start playing the blame game. In this article, we will be discussing about the importance of self storage insurance.

Provides liability protection

A simple liability protection is the most basic necessity. The items you store can be of great financial value and if anything undesirable happens, you want to be protected and compensated. Self storage insurance will ensure that most things are covered and your losses will be kept to the minimum or none at all. You may be thinking, isn't the company suppose to pay for your damages? Due to the landlord-tenant relationship, the company is not liable for anything except when it happens due to their negligence.

Protects against damages towards your items

Self storage insurance will insure you against any damages due to water damages or theft. These are not covered under your standard storage terms as you as the tenant is responsible for your own items. No matter how you try to prevent theft, you can never escape from scheming criminals who will stoop to nothing in order to steal your things. Water damages or even fire damages are acts of god which are usually unpreventable.

Enforces a maximum limit

Self storage insurance ensures that you only have to pay a maximum amount of liability. This is similar to the normal medical insurance where you only need to make a co-payment of a certain amount and your insurance will take care of the rest. This is important when your entire unit is damaged by fire or water and you need to replace the interior furnishing on top of your items.

Increases your confidence level

Having insurance greatly increases your confidence level. This is the same reason as getting a life insurance and you are unsure of your future and there is too much unknowns out there. When you know that whenever something happens, your things are insured and your financial liability is kept to a limit, you will not have sleepless nights anymore.

Getting self storage insurance is not a harbinger of doom. It is a form of security towards yourself and your loved ones. Premium rates are rather reasonable and some self storage companies have their in-house insurance which you can bargain to be included in your rental lease.

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