Self-Storage Insurance - Protecting Yours and Theirs

If you are looking at getting into the self-storage business then maybe this article can be of some help in showing you some of the problems that are plaguing the industry and how you can better protect yourself from those problems. If you are already in the industry then you are more than likely aware of these problems. In that case, maybe we can shed some light on an area that you may not have thought of before.

Commercial insurance policies for self-storage businesses and what they cover can vary based on what company you are with. One insurance company may offer a different set of standard coverages than another company does. It is important to know what coverages you need. One way to find out what these coverages are is by addressing the dangers that are most likely to affect you.

Below are some coverages that will most likely come standard on many self-storage insurance policies….

Commercial Property Coverage

  • This coverage protects your buildings and its contents along with any fences, signs, gates, etc. from damage caused by a covered loss.

Liability Coverage / Customer’s Property Liability

  • Protects your business in the event part of your operations causes damage to your clients or their property. This also covers the property that the customer is legally liable for while they are on the premises.

Business Income and Extra Expense Coverage

  • If your business suffers a loss which renders it temporarily unable to operate this coverage will pay for the loss of income until operations can resume. The “extra expense” portion can also provide additional income even after the business has started working again.

Equipment Breakdown

  • For a self-storage business owner, this coverage can be one of the most important. This covers equipment such as heating and cooling systems along with surveillance equipment. If your clients are paying for “climate controlled” units, then this coverage is vital in order to get the system back up and working before running the risk of your clients suffering a loss.

Sale, Removal, and Disposal Liability

  • Most people have seen or heard of the show “Storage Wars” on A&E. Well, what happens when the former tenant who owned the property claims damages or requires compensation for the sale of their property? This coverage can help protect you as the business owner in the event that scenario occurred.

A few other coverages that may not necessarily come standard in a self-storage insurance policy might include….

Crime Coverage

  • This simply covers your business from damages that are caused by a theft on the property.

Pollutant Clean-Up and Removal

  • The description is in the name for this coverage. This is the unlikely event that your business property is polluted from either business operations or a client’s mistake. The company will pay to have the pollutants extracted from your property.

Workers Compensation

  • Workers compensation insurance can pay for lost wages and/or medical bills/treatment for an employee that was injured on the job. This can protect your business and your assets.


When taking many of these into consideration and analyzing the problems that they cover, it may be a good idea to look at your current policy and talk to your agent to make sure these apply to your business. A loss not covered could spell out the end of your operations for good.

Make Insurance Great Again!

-Harrison Horton

For more information about Worker's Compensation click here.