When you store your belongings at Downtown U-Lok Storage, you’re choosing a secure and convenient self-storage facility in Vancouver. While our facility protects the building itself, your personal items inside your self storage unit require separate coverage. Understanding why self storage tenant insurance matters can help you avoid unexpected financial loss and gain peace of mind.
What Is Self Storage Insurance?
Self storage tenant insurance is a specialized form of coverage designed to protect personal or business belongings stored in a self-storage facility. It protects your items against risks such as theft, fire, flooding, vandalism, and other unexpected events.
This type of insurance ensures that your possessions remain protected even when they are stored away from your home or office.
Are Storage Units Automatically Insured?
Many tenants assume that storage facilities automatically insure everything inside their unit but this is not the case.
While self-storage facilities in Canada typically carry insurance that covers the building structure and company liabilities, this coverage does not extend to tenants’ stored belongings. The responsibility to insure personal property rests with the renter.
That means without self storage tenant insurance, any loss or damage to your stored items could result in out-of-pocket replacement costs.
Does Home or Tenant Insurance Cover Storage Units?
Some homeowner and renter insurance policies offer limited off-site storage coverage. However, these policies often come with restrictions on coverage amounts and the types of incidents they protect against.
It’s important to review your policy carefully and confirm coverage details with your insurance provider. In many cases, additional self-storage insurance is recommended to ensure full protection for valuable or long-term stored items.
Why Does Downtown U-Lok Storage Require Tenant Insurance?
Like most self-storage facilities, Downtown U-Lok Storage requires tenant insurance because facility insurance does not cover customer belongings. This requirement protects both tenants and the facility by ensuring stored items are properly insured in case of damage or loss.
Key Benefits of Having Self Storage Tenant Insurance
Protection Against Loss or Damage
Tenant insurance protects your belongings from common risks such as fire, water damage, theft, vandalism, and natural disasters. Without coverage, replacing damaged items can be costly.
Facility Requirement Compliance
We require tenants to carry insurance as part of the rental agreement. Having coverage ensures your rental remains compliant and hassle-free.
Liability Coverage
Self storage tenant insurance can include liability protection, which helps cover costs if someone is injured or another tenant’s property is damaged due to your stored items.
Affordable Protection
Self storage tenant insurance is typically affordable, especially when compared to the cost of replacing furniture, electronics, business inventory, or sentimental valuables.
Peace of Mind
Knowing your belongings are protected provides confidence and peace of mind, whether you’re storing items short-term or long-term.
Self Storage Tenant Insurance at Downtown U-Lok Storage
Downtown U-Lok Storage partners with Cowan Insurance’s StoreShield program, offering tenants a convenient and comprehensive coverage option.
Key benefits include:
- Comprehensive Coverage – Protects stored belongings against theft, fire, and water damage.
- Liability Protection – Helps cover costs if a tenant is responsible for damage to the facility or another tenant’s property.
- Easy Setup and Management – Simple enrollment process for both tenants and facility staff.
Key coverage details:
- $5,000 coverage limit
- $500 deductible (unless otherwise stated on your certificate of insurance)
- $14.99 per month (approximately $0.50 per day
If you want more than $5000 coverage, you can purchase additional insurance coverage through Cowan Insurance’s StorageShield team by calling 1-866-912-6926.
Additional items to know:
- If you move out mid-month, the storage insurance will be pro-rated
- A claim under storage Insurance will not affect your rates however a claim for your under your home/business insurance will likely increase your premiums
- Most personal insurance policies that include off-site coverage only have a 30- day storage limit
- The cost to insure your belongings is far less than the cost to replace them.
- Most home/business insurance policies do not provide adequate coverage for your personal property while in storage
Your stored belongings are important, whether they’re personal, sentimental, or business-related. Self storage tenant insurance is an easy, affordable way to protect those items and avoid unnecessary financial risk.
If you have questions about self storage tenant insurance or need help enrolling in coverage, the Downtown U-Lok Storage team is happy to assist. Get in touch today.