So you decide you need storage for your valuable (or maybe not so) possessions. You will be spending somewhere in the neighborhood of $50-200 per month depending on the size of your storage and whether it is temperature controlled, etc. You may spend another $100 or so on a moving truck or more than that for movers to put your belongings in your storage. But then when you are asked if you would like to insure your stuff while it is in storage for as little as $7.95 or so per month the answer we often hear is “No I don’t need that!”
Sure our property and most others today have all kinds of cameras, gates that track who comes and goes, lighting, fencing, etc. But there are things that even the best security systems in the world can’t control. Mother nature for one. Folks, this is Texas and for some reason Mama Nature loves to mess with Texas. Tornadoes, hail, wind, flooding, ice, and of course the nasty summer heat and humidity. Did I leave anything out? Oh yes lightning that can start fires in a flash, pun intended. So yes you do need tenant insurance to protect yourself from the elements which no storage property in the world can guarantee 100% security from.
The second reason you need tenant insurance is because in Texas, state law says the property is not legally responsible for the loss or damage of what you store there. In Texas, put your stuff in storage and you do so at your own risk, any property, anywhere, anytime. Something happens you are on your own. They will be sympathetic and caring but they will not pay you a dime in compensation. The insurance company will cover you. Anything other that, cars, furs, high dollar jewelry and a few other things (read your policy’s fine print) up to how much coverage you bought.
There are some homeowners and renters policies that do cover your belongings while they are in storage so before purchasing tenant insurance always take the time to check with your insurance agent and see if you have that coverage. Also it is a good idea to compare the deductible of your homeowners with the one the property is offering so that you are comparing apples to apples.
Bottom line is if it worth storing it is worth protecting for a few small dollars a month. And yes you do need some level of coverage. So either have your own or when we do offer it say “Yes!”