3/25/2013 - Spring cleaning? Don't forget about insurance
As homeowners begin their spring cleaning, many decide to take some of the things that cluttered their homes and place them in storage. However, as the Insurance Information Institute indicates, before individuals do that, they should make sure they have sufficient coverage for their stored belongings.
"If an item is valuable enough that you are willing to pay for storing it, the item should be financially protected with the proper amount and type of insurance," said Loretta Worters, vice president for the III. "Even in the best managed storage facilities, theft, fire and other disasters can and do occur."
She added that before storage customers sign a rental agreement, they might want to ask about insurance that will help protect their belongings.
While this is one alternative, another option Worters suggested is for consumers to inquire with their homeowners insurance provider and ask them if their policy includes coverage for belongings that are away from their primary residence. This can enable individuals to avoid having to purchase a separate plan, likely saving money.