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Renters insurance often covers belongings stored in a storage unit. However, coverage is usually limited to about 10% of your personal property limit. Before you move valuable items into storage, take a few minutes to review your policy and make sure you have enough protection.

Most renters insurance policies include off-premises coverage for belongings that get damaged or stolen away from your home.

For example, let's say you're storing a couch, a television, seasonal decorations, and several boxes of clothing in a storage unit. If someone breaks into the unit and steals those items, your renters insurance may help cover the loss if theft is a covered peril under your policy.

The same concept applies to other covered events, such as a fire breaking out at the storage facility or a tornado destroying your unit.

That said, off-premise coverage usually has lower limits. It can vary by provider, but many policies will cover around 10% of your personal property coverage limit.

For example, say you have $50,000 of coverage for your belongings overall; renters insurance may cover only up to $5,000 for items in a storage unit.

The math breaks down like this:

Personal property coverage: $50,000

Storage unit sub-limit: 10%

Maximum storage-unit coverage: $5,000

Read more: What is renters insurance? A complete guide.

In general, any items you place in a storage unit are covered against many of the same perils that are covered when they're inside your rental home.

Common covered events may include:

Theft

Fire and smoke damage

Vandalism

Lightning

Windstorm damage

Damage from certain burst pipes or plumbing failures

The specific items covered are often the same types of belongings protected by your renters insurance at home, including:

Furniture

Clothing

Electronics

Kitchen items

Sports equipment

Books

Seasonal decorations

There's another potential limit to be aware of. Similar to home insurance, many renters insurance policies place special sub-limits on certain valuables, such as jewelry, collectibles, firearms, cash, and some electronics.

So even if your storage unit coverage limit is high enough, those items may still be capped at a lower amount under your policy. For example, your policy might provide $5,000 in coverage for belongings in storage but only $1,500 for stolen jewelry.

Read more: What does renters insurance cover?Β 

Your renters insurance policy generally won't cover anything in a storage unit that it wouldn't cover inside your home in the first place.

Common examples may include:

Flood damage

Mold and mildew

Pest damage

Wear and tear

Rust and corrosion

Earthquakes (unless you have additional coverage)

One of the smartest things you can do if you're going to put items in a storage unit is to document everything in case you need to file a claim.

If someone steals a television from your storage unit, for example, it's much easier to prove ownership if you have photos, a receipt, or the serial number available.

You can create a very basic inventory following these steps:

Take photos of individual items.

Record a video walkthrough of the entire unit.

Save receipts for expensive purchases.

Keep serial numbers for electronics.

Create a simple spreadsheet of stored items.

The best way to know if the 10% off-premise coverage limit is enough for you is first to add up the approximate replacement cost of everything in the unit. If the total exceeds your storage-unit coverage limit, you may need additional coverage.

Use this table to quickly see what your storage unit coverage could be based on your personal property coverage limit:

Personal Property Coverage

Approximate Storage Unit Coverage

$20,000

$2,000

$30,000

$3,000

$50,000

$5,000

$100,000

$10,000

If the value of the items in your storage unit exceeds your policy's storage-unit limit, you may have three options to increase it.

Because storage-unit coverage is often tied to your personal property limit, increasing that limit may also increase how much coverage you have for belongings in storage.

For example, if your policy provides storage-unit coverage equal to 10% of your personal property limit, $30,000 of personal property coverage would equal $3,000 of storage-unit coverage. But increasing your overall limit to $50,000 would give you $5,000 in storage-unit coverage.

Your second option is to schedule expensive items if you're mostly storing jewelry, collectibles, musical instruments, or high-end electronics. You can typically "schedule" an item with your provider by adding a rider or endorsement to your policy. Essentially, scheduling increases the coverage limit beyond what your standard policy may provide.

Your third option is to purchase separate storage unit insurance through the storage facility you're using (if available). In some cases, they may require proof of insurance anyway before you can sign your rental agreement.

Purchasing separate storage unit insurance could make sense in any of these situations:

The value of your belongings exceeds your storage-unit limit

You're storing the contents of an entire home during a move

You have expensive collectibles or valuables in storage

The storage facility requires insurance

You want extra peace of mind

For example, say you're temporarily storing the contents of a two-bedroom apartment while relocating across the country. Between furniture, electronics, appliances, and household goods, the replacement cost could easily exceed $15,000 or $20,000.

If your renters insurance only provides $5,000 of storage-unit coverage, a separate storage-unit policy could help close that gap.

If you end up needing to file a renters insurance claim for items in a storage unit, you can usually do so following these steps:

Document the damage. First, take plenty of photos and videos of any damaged property before cleaning up or disposing of anything. If items were stolen, photograph the unit itself and any signs of forced entry.

Notify the storage facility. Next, let the facility manager know what happened as soon as possible. They may have security footage, incident reports, or other documentation that could help support your renters insurance claim.

File a police report if necessary. In some cases, it may make sense to file a police report. If you need to file one, do so as soon as you're able. Your insurance company may need a copy of this to go along with your claim.

Contact your insurance company. The next step is to report the loss to your renters insurance provider and ask what documentation they need.

Work with the adjuster. Your renters insurance company may assign an adjuster to review your storage unit claim. Respond promptly to any additional information they need, so you can get your claim processed as quickly as possible. The more documentation you have, the easier it will be to verify your losses and move the claim forward.

Any items you store in a storage unit are typically covered under the off-premise part of your renters insurance policy. However, coverage is usually limited to around 10% of your total personal property coverage.

If your renters insurance policy remains active while you're moving, it may continue covering belongings stored in a storage unit. However, moving can create a few gray areas, so check with your provider first. For instance, coverage may depend on whether your renters policy is still active or whether your property is being held in storage or transported between locations.

A storage facility may sell its own insurance, and it may require proof that you're carrying renters insurance of some kind before it will rent a unit to you. However, you shouldn't be required to buy the facility's insurance specifically.

Theft is commonly a covered peril under renters insurance policies, so that coverage should extend to your storage unit too. If someone breaks into your unit and steals your belongings, your policy may help pay to replace them, subject to your deductible and coverage limits.

You should be able to insure a storage unit without renters insurance. One option is to purchase an insurance plan that's sold directly by the storage facility. You could also look into a storage unit insurance plan through a third-party company.

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