Insurance – Questions and Answers
Is insurance compulsory?
Yes. All clients must either take out our bespoke insurance or provide proof of insurance cover for goods in self-storage, before they can store with us. If using your own insurance provider you will need to ask them to add an addendum to your policy to include the name and address of the store and possibly the unit number.
What is the cost of insurance?
This depends on the full new replacement value of your goods if you had to buy them again today. The cost of our insurance starts from £6 per month for £2,000 of cover, and goes up at the rate of £3 per month for every additional £1,000 of cover depending on the level of cover that is appropriate for you. VAT will be added if applciable.
What is the minimum level of cover I need?
The minimum level of cover required is a sum insured of £2,000 or the declared value of goods in your self-storage unit, as on the Insurance Declaration Form on this site which you can download and print, whichever is the greater.
Do I have to use your insurance policy, or can I use my own insurance?
No you do not have to use our insurance. You can take out your own insurance but it must cover goods being placed in self-storage. Not all household insurances will cover you whilst your possessions are in a self-storage facility, so please check the terms of your insurance and provide us with proof of your cover if not using ours, which must state that it covers goods stored in a self-storage facility, and name the store you are storing at and the full postal address of the premises. It should also state the level of cover provided. It is your responsibility to keep your insurance documentation valid and up to date.
How detailed does the contents inventory need to be?
All large items must be included in your inventory, but you do not need to be so detailed as to include the title of every book within a box. For example, “Box of 20 books” would be a sufficient description plus their total value.
Please put equal valued items in the same box if listing them as a collection of items with one price. Any higher valued items should be declared separately or made known to us with their individual value. Please indicate any higher valued item, if any, in the box e.g. Box of 20 books – Churchill First Edition hardback value £110. If you then indicate a value for the entire box of £300 we will then assume that the remaining total of £190 is to be divided between the other 19 books, giving them an average value of £10 each.
What does your insurance cover?
Use this link to see the full details. If you take out our insurance it will cover you against the following normal perils: Actual physical loss of or damage to our customers’ property caused by fire, lightning, explosion, earthquake, aircraft or articles dropped therefrom, storm, flood, bursting &/or leaking pipes, ingress of water or other liquid substance, moth, insect or vermin from an external cause, theft accompanied by forcible and violent entry to or exit from the building or Unit, riot, strike, civil commotion, malicious damage, and impact by vehicle or railway rolling stock.
Does the cost include Insurance Premium Tax (IPT)?
IPT is not applicable.