Storage Insurance FAQs

All our customers must maintain storage insurance cover for the duration of their stay. All customers have the option of accepting insurance protection under our insurance policy, or arranging their own insurance (subject to certain criteria being met). Taking out a storage insurance policy is a standard procedure for all self storage companies. All possessions placed in storage with us must be insured for their full replacement value on a ‘replacement as new’ basis.

Why do I need insurance?

Your goods must be insured whilst in storage. Safestore offers insurance protection under our own insurance policy.

We always take good care of our stores and make every effort to protect items being stored with us. Unfortunately there are some events which may damage your goods which are out of our control, such as a fire or flood. It is therefore standard practice for self storage companies to require their customers to adequately insure their goods for the duration of their stay.

Can I take out my own insurance?

It is a condition of storing with Safestore that customers must be insured. You have the option of arranging your own insurance, however your policy must provide cover to the same high level as the Safestore insurance policy.
 
If choosing to arrange your own cover you need to supply a letter/policy from your insurance company specifying the following information:-
 
  • A Sum Insured which is adequate to cover the value of all goods being stored on a replacement as new basis;
  • That the cover provided is equal to or better than the perils included within the Safestore insurance policy;
  • The name of the insurer and/or broker;
  • The start and end dates of the cover; and
  • The Safestore store address(es) where you are storing your goods;.
 
The perils included within the Safestore insurance policy are as follows:-
Fire, lightening, explosion, earthquake, storm, flood, escape of water from any apparatus, theft by violent or forcible means, subsidence, riot and civil commotion, malicious damage, impact by vehicles, aircraft or aerial devices, vermin damage, collapse or partial collapse of building.

What documentation do I need to provide?

If business owners choose to supply their own cover, they will be required to supply a letter/policy from the insurance company specifying:

The sum insured
The cover start and end dates
The Safestore address where they are storing their goods.
Business owners choosing to supply their own coverage must ensure that, at a minimum, it covers the same “Insured Perils” as detailed in the Safestore T&C’s. Safestore will need to take a copy of your business insurance policy and retain this on file with your rental agreement. These documents will need to be supplied annually to Safestore as they expire.
 

What happens if I do not have the required documents?

If you are not able to provide the above documentation at the time of signing up to store with us, we will automatically charge you for the applicable insurance charges based upon the value you have declared. You will then have a period of 14 days to provide the required information and sign our declaration to qualify for a full refund of any insurance fees charges to date. 

Can Safestore recommend insurance providers?

Safestore team members are not able to recommend insurance providers or make personal assessments of whether or not insurance is suitable for your needs.
 

What is the minimum insurance required?

All items placed in storage with us must be insured for their full replacement value on a ‘new for old’ basis.

What can the Safestore insurance policy cover?

The Insurer will pay for any loss or damage, up to the value declared by you to Safestore, subject to the conditions and exclusions detailed within our Information Cover Information Document. Your property is covered from the time it is placed in the self storage unit until the time it is finally removed from storage for the following perils:
 
Fire, lightening, explosion, earthquake, storm, flood, escape of water from any apparatus, theft by violent or forcible means, subsidence, riot and civil commotion, malicious damage, impact by vehicles, aircraft or aerial devices, vermin damage, collapse or partial collapse of building.
 
Please read our Insurance Cover Information Document for a more detailed summary of the cover available.

Who are the Insurers?

Safestore’s Customers’ Goods policy is underwritten by Allianz Insurance. 

How do I benefit from the cover?

You are required to accept the appropriate option shown on Safestore’s licence agreement, check that you have inserted a correct valuation for your property and to pay all charges in full.

How do I value my Goods?

In respect of Business Customers’ stock and work-in-progress, you must declare the current replacement value for all property being stored, taking into consideration the age, quality, degree of use and consequent market value of your property when calculating the settlement.
 
In respect of all other customers, you must declare the current new replacement value of all property being stored. This means the cost to replace your items with a new equivalent, not the price you paid when you purchased each item. 
 
If you are storing documents, the value declared by you must include:-
  1. The value of the materials as stationary;
  2. An estimated cost for the clerical labour required to reproduce or write the documents; and
  3. The costs required to reproduce any information recorded.
 
You do not need to include the value of the information contained in any documentation lost or damaged, as this is not covered.
 
Please do not ask your Safestore for guidance about your valuation. They are not valuers, and the responsibility for declaring the value is yours.
 
Remember that you must declare the full value of the goods being stored or you will be underinsured. This means any claim would be subject to Underinsurance as per Clauses 5 and 6 within the Insurance Cover Information Document and your any claim settlement would be proportionately reduced. For example, if you declare a value of £25,000, but your goods are actually worth £50,000, you are underinsured by 50% and all claims will be proportionately reduced. 

Why do I need to contact you to find out the price of your insurance?

We don’t know the true replacement value of the items that you’re storing and we can’t estimate the true replacement value to calculate the appropriate charges, so you’ll get a better idea of the cost if you contact us directly.

We’re here to help you

Experts in self storage and dedicated to offering the best customer service

Our friendly, professional advisers in store and on the phone are experts in their field and can help you every step of the way through your storage journey. Safestore is proud to have been awarded a 'Gold Trusted Merchant' award in 2014 and 2015 by Feefo (an independent customer rating system for businesses), commending our ability and commitment to making customers happy. We hope you will be one of them.

Need help?
Speak to a team member
0800 444 800
Complete your quote

You’re almost done!

Complete your quote at