Self storage units are rented by businesses and individuals. The industry offers a wide range of services, including insurance and maintenance. Here are some of the benefits of self storage. Many businesses are using this type of storage for long-term or temporary storage, as well as for personal needs. Many people find self storage a convenient and economical way to store their belongings. However, it can be a challenge to find a self storage unit that meets your needs.
Insurers
Most self-storage facilities provide insurance coverage. This insurance, though, usually has a lower coverage limit than homeowners insurance. For example, a $5,000 limit might be adequate for most items. In addition, storage facility insurance generally has many exclusions. High-value items, such as jewelry and collectibles, are not covered. Therefore, it’s important to look for an independent insurance broker. You can also purchase additional insurance for your storage facility.
If you are renting a storage facility, make sure you are insured for it. You can often extend your homeowner’s insurance coverage to cover storage items. If you already have homeowners insurance, buying an additional policy to cover self storage would be expensive. Furthermore, self-storage insurance policies usually offer lower deductibles than homeowners insurance policies, which is a good idea if you’re storing more than just a few items.
Unit sizes
You may be wondering how to know what size self storage unit you need. Self storage operators must take into account the actual size of each storage unit before letting customers rent them. While they may publish an approximate unit size on their website, it is best to call them and ask what their actual unit size is. You can also ask them to check in the back to make sure that they have the correct unit size. This way, you will know what size unit to rent when you arrive at the storage facility.
The best way to determine how large your storage unit should be is to make an inventory of your stuff and how much space each item will take up. Using a tape measure to estimate how many boxes and totes you need will help you choose the right size. You should also take into account any large or irregular shaped items. If you’re unsure, check out videos that demonstrate how to pack and move items of varying sizes and shapes.
Costs
How do you compare storage costs? While you can easily compare prices by using months or weeks, it can be confusing if you’re not using the same time frame. When comparing prices, make sure to compare the same type of unit in the same location. It is also important to consider how long the unit will be used. You may need to factor in additional fees for extended storage. To keep your costs in check, you should always rent a shorter period of storage than you think you will need.
Before you sign up for self storage, check the terms and conditions. Many storage facilities charge a deposit equal to half of the rental price. However, you can find facilities that do not require a deposit, but do not forget to check whether the space has an insurance policy. Some self storage facilities charge a flat fee for using credit cards. If the fee is low, you may want to look elsewhere. Some storage companies even include insurance for the cost of storing your items, but this depends on the store you choose.
Insurance options
Insuring your self-storage facility is a good idea, but what are your options? Here are a few ways to protect your facility and minimize your risk. Consider the following insurance options before moving in. Self-storage facilities typically offer coverage options at move-in. However, be sure to check whether they have their own insurance broker or not. If they do, you may be paying more for a similar plan than you would if you purchased it through an independent broker.
Business liability insurance protects you from claims that may arise due to a covered event or a hazard on the premises. This type of insurance protects self-storage facility owners from a variety of liabilities that could arise from property damage or injury claims on the premises. Today’s litigious society has made it imperative for business owners to recognize the risk of liability. However, simply having liability insurance is not enough. Jury awards can be large, and courts are becoming increasingly tough on business owners who fail to prevent dangerous conditions on their premises.
Locations
Where should you locate a self storage facility? First, you need to find a highly populated area. While there are zoning restrictions in all 50 states, the majority of people are not interested in driving far distances just to access their things. Most people want to be within a few minutes’ drive of their homes. Next, determine how many people live in the surrounding area. Often, this is the biggest challenge.
In some cases, a self-storage business might be a part of a larger building. Many successful companies have co-located with office tenants, public schools, and manufacturing facilities. Having this type of co-location allows these companies to better serve their customers. Whether you’re looking for a self storage unit in a city or rural area, consider the size of your space. You may find that you need more space than you think!