Will a homeowners or renters policy cover goods in storage?

It may not. Most homeowners policies need a separate endorsement for stored goods, usually cover storage for only about 30 days, apply the homeowners deductible, and exclude vermin, fungus, and flood for personal property. Multiple claims on a homeowners policy can also raise the premium or put renewal at risk.

What property is not eligible for coverage?

Exclusions include accounts, bills, firearms, currency, deeds, securities, money, notes, animals, jewelry, watches, precious and semi-precious stones, and furs. Coverage may also be declined on exotic, imported, or high-value contents. The Summary of Coverage carries the full list of exclusions.

How does a tenant sign up for coverage?

At the leasing office: the tenant asks for a Storsmart enrollment form and completes it. The premium is then added to the storage rent payment, and the coverage can be cancelled at any time.

Tenant programs

Storsmart Insurance

Storsmart is a stored-goods insurance program for self-storage tenants. Coverage protects a renter's property against causes including forced-entry theft from a secured space, fire and smoke, water damage from a roof leak or sprinkler failure, and wind, hail, tornado, and roof collapse from snow and ice, with optional endorsements for mildew, bacteria, fungus and rot, earthquake, volcanic eruption and landslide, items parked in outdoor open-air spaces, and limited pest damage.

The program is sold where the tenant already is: at the facility, online, and through the operator's other rental channels, with the premium added to the existing storage rent payment. Enrollment is completed on a Storsmart form at the leasing office, coverage can be cancelled at any time, and the tenant receives a Certificate of Insurance and Summary of Coverage showing the limit selected and the covered causes. The coverage is primary over any other valid and collectible insurance the tenant holds, so a claim does not have to run through a homeowners policy and its deductible.

The program is offered exclusively through Property First Group LP, a licensed insurance agency that does business in California as Property First Insurance Agency, and is underwritten by New Hampshire Insurance Company, NAIC No. 23841, an AIG affiliate with an A.M. Best rating of A- Excellent. The agency's national producer number is 15974922, its California license is 0H93939, and Pennsylvania, license 588404, is its resident state; it lists individual licenses in states across the country.

Administration runs from Sharpsburg, Pennsylvania, with a customer service line staffed by licensed representatives. Coverage at most facilities can be as low as 40 cents per day for the lowest coverage amount, though limits, exclusions, and availability vary by jurisdiction and by the actual policy language.

Best for

Self-storage operators who want a tenant protection program billed with rent, and renters whose facility requires coverage on stored goods; it is not a source of coverage on the building itself.

What they do

Tenant stored-goods insurance
Coverage billed with monthly storage rent
Facility and online enrollment
Optional mildew, fungus, and rot coverage
Optional earthquake and landslide coverage
Optional coverage for items in outdoor parking spaces
Limited pest damage coverage
Claims handling for stored goods

Details

Attribute	Value
Licenses	NPN 15974922 (Property First Group LP), California insurance license 0H93939, Pennsylvania resident license 588404
How they charge	Coverage at most facilities can be as low as 40 cents per day for the lowest coverage amount.

What stands out

Underwritten by New Hampshire Insurance Company, NAIC No. 23841, an AIG affiliate rated A- Excellent by A.M. Best.
Offered exclusively through Property First Group LP, NPN 15974922, California license 0H93939.
Coverage at most facilities can cost as little as 40 cents a day for the lowest limit.
Coverage is primary over any other valid and collectible insurance the tenant holds.

Common questions

Will a homeowners or renters policy cover goods in storage?: It may not. Most homeowners policies need a separate endorsement for stored goods, usually cover storage for only about 30 days, apply the homeowners deductible, and exclude vermin, fungus, and flood for personal property. Multiple claims on a homeowners policy can also raise the premium or put renewal at risk.
What property is not eligible for coverage?: Exclusions include accounts, bills, firearms, currency, deeds, securities, money, notes, animals, jewelry, watches, precious and semi-precious stones, and furs. Coverage may also be declined on exotic, imported, or high-value contents. The Summary of Coverage carries the full list of exclusions.
How does a tenant sign up for coverage?: At the leasing office: the tenant asks for a Storsmart enrollment form and completes it. The premium is then added to the storage rent payment, and the coverage can be cancelled at any time.