Insurance

 

Before moving your goods into a Store 4 U unit, we recommend that you check whether your goods are covered under your home and contents insurance policy. In the event that they’re not, we are able to provide you with insurance as serviced by self-storage specialists, Midland Insurance. 

Why might you need self-storage insurance?  

As the saying goes, ‘If it’s worth storing, it’s worth insuring’. Storage facilities want to offer their customers the cheapest rates they can. To keep costs down, most facilities will not provide insurance and will disclaim liability for damage or loss to your stored goods. Self-storage insurance may ease the financial burden of needing to repurchase goods in the event something was to happen.  

But what does a Midland Insurance policy cover?  

Midland Insurance’s coverage is designed to protect your household goods and other property against loss and/or damage due to fire, theft (by forcible entry), explosion, malicious damage, windstorm, smoke damage, lightning, earthquake, impact (excluding damage caused by vermin, insects & wildlife) riots and strikes, water damage, storm and/or tempest and/or rainwater. The policy can be extended to cover motor vehicles, boats & jet skis to a maximum sum insured of $10,000. Commercial goods may also be covered if approved by Midland. 

If you are unsure about what other contingencies or events a Midland Insurance policy does and does not cover, please refer to the Product Disclosure Statement.    

Important Policy Information 

  • All applications are subject to approval. 

  • All premiums must be pre-paid. 

  • Maximum coverage available is $100,000 per space. Without reference to Midland Insurance Brokers, burglary is maximum $75,000. 

  • The policy is subject to a $57 minimum premium.  

The policy does not cover: 

  • War, warlike operations, invasion, hostilities, civil war, rebellion. 

  • Confiscation, requisition or destruction by order of government or statutory authority. 

  • Nuclear weapons material, fuel or waste and losses which are otherwise recoverable from any other insurance contract. 

  • Flood. 

  • Any consequential loss. 

  • There is no coverage provided for currency, deeds, securities, money notes, jewellery, watches, precious stones, furs or garments trimmed with fur, paintings, curios and works of art. 

    Theft coverage exists when there are visible signs of forcible entry to your individual storage space or the building. 

  • Coverage ceases upon removal of insured property from the individual storage space nominated on your application of Insurance. 

  • Excess- All claims $250.00 except for Earthquake, Volcanic Eruption, Subterranean Fire or Tsunami claims $20,000 or an amount equal to 1% of the total asset value at the situation where the damage occurs, whichever is the lesser: Cyclone Excess: $20,000 below the 26th parallel and $50,000 above the 26th parallel per location. 

 

Your Responsibility 

Self-storage complexes generally do not provide insurance and disclaim liability for damage or loss to your stored property. If you want to insure your property against loss due to the above perils, you must provide your own insurance. 

Consider what it would cost to repurchase the goods you are storing. Just a few major items may have a substantial value. Self Storage Insurance can protect your property and your peace of mind. And, you purchase only the amount of insurance you need for as long as you need it. 

To be covered against loss or damage, be certain to select a sufficient amount of insurance to cover the cost of your goods. Subject to the limitations in the Product Disclosure Statement and Policy wording.