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By Graci Woodworth,

The topic of tenant insurance is one that is continually buzzing with changes and updates, specifically within the self storage industry. The guidelines and restrictions that come with offering tenant insurance have rapidly changed over the years to make it easier for tenants to work directly with their facility for coverage on their belongings. If you’re preparing to stow some of your things away in storage and are curious about how tenant insurance works, check out a few of the basics listed below.

How Do I Insure My Belongings?

Depending on what is offered at the storage facility of your choosing, there are a couple of different routes you can take to get your belongings insured. Recently, storage facilities offering their own tenant insurance plans to customers has gained popularity because it allows people to get set up with a renter’s plan right there at the facility. Another option is to work with your current insurance provider to make sure your general or homeowner’s insurance plan is in line with what you plan on storing.

Do I Have to Be Insured In Order to Store my Things?

Many facilities require their customers to carry some type of insurance coverage, but they can’t require which type of coverage needs to be obtained (this part up to you). However, opting out of coverage for your items altogether could put you at risk of an unforeseeable circumstance, as the cause is usually out of the facility’s control. When covered with tenant insurance or another form of insurance, customers can take comfort in knowing that they’ll receive financial recovery for any event where their stored items were damaged or stolen.

How Much Can I Expect to Pay for Tenant Insurance?

The amount a renter can expect to pay for tenant insurance depends on where you’re located in the country, how much coverage you’re interested in, and policies of the chosen insurance provider or broker. In estimates made by Nationwide and the National Association of Insurance Commissioner’s data, the average prices of a renters insurance policy could range between $15 and $20 monthly, which translates to a yearly payment within the window of around $180 to $240.


Whether you’re looking for a place to store a recreational vehicle, or simply relocating some seasonal clutter from your home, making sure those items are covered beforehand is a safe bet. If you’re on the fence about your policy options regarding tenant insurance, contact your facility manager to help determine what will be best for you based on the property’s requirements.