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Tips for renting a mini storage unit to store items - Is storage insurance worth it?

Monday, July 25, 2022

Tips for renting a mini storage unit to store items - Is storage insurance worth it?

Living in Hong Kong is living with very limited home space. Squeezing space to properly store clothes, collectibles or basically any items that are not required for everyday usage at home is an ongoing task. It’s no surprise that many people choose to rent mini storage units to solve their storage problems while also helping to better organize their home space. While there are a number of advantages to renting a mini storage unit, an often overlooked issue is whether or not to purchase insurance to cover and protect your storage items. Understanding how mini storage unit insurance works step by step will greatly aid in making the best possible decision based on your needs.

General insurance for storage units and containers

Like virtually every other commercial business, storage units and container rental companies are bound to purchase insurance - such as water and fire insurance and comprehensive property insurance. What many self storage tenants may not realize is that the insurance plans are mainly to protect the businesses’ own facilities and not necessarily for the personal items stored.  

As the first Hong Kong company to earn gold accreditation in the new SAFE Self Storage Standards and Certification Programme, RedBox is an acknowledged industry leader in protecting their customers goods. The company strictly follows all the updated guidelines from the Fire Services Department and Buildings Department to ensure all of its branches adhere to comprehensive fire protection facilities and measures. This security level is also enhanced by 24-hour CCTV and access control systems in every self storage facility to reduce the potential risk of accidents. But while we are endlessly vigilant in our protection protocol, it still does not completely guarantee that your storage items are 100% safe. In order to ensure peace of mind and fully protect your self storage items, it is also recommended to get an individual insurance plan.

24 hours CCTV security

What insurance would be best for self storage items? 

What exactly can be done to insure and further guard your self storage containers or units is a frequently asked question, In Hong Kong, the options for this type of insurance plan can be limited. You can choose to get home insurance to protect your household storage items. However, when moving household items to storage units it is recommended that you first check the details in the insurance documents to see if the items are still covered under the plan. Generally speaking, you will likely need to expand your insurance coverage to protect items stored outside your home. As an alternative, you can also check with your self storage business operator whether they offer a specific insurance plan for additional self storage items.

soak-boxes

It is important to remember that while RedBox Storage is very much attuned to helping customers’ needs, we are not an insurance business. There are different storage coverage plans catering to individual needs and aimed at giving customers an extra layer of confidence and protection. Tenants can additionally purchase comprehensive property insurance for each storage rental contract to protect personal items. The coverage includes property damage and accidental loss caused by fire, flooding, natural disasters, burst water pipes, burglary or accidents. For details about insurance plans, please contact your insurance company. We also suggest that all of our customers read the terms and conditions carefully before signing a storage rental agreement and insurance plan to avoid any loopholes or misunderstandings.

Lastly, having insurance for storage units or containers is not an absolute complete blanket of safety. It will, however, significantly reduce your losses if an accident occurs. Insurance coverage can often be confusing and as always we are here to help. Should you have any questions about our storage insurance, please feel free to contact our professional team.


About RedBox Mini Storage

RedBox Mini Storage, Hong Kong’s largest storage facilities.
RedBox’s storage solutions: Self Storage | Self-managed storage units to suit every need; 
Door-To-Door Storage | We pick up, store and deliver your items when it suits you; 
Business Storage | We offer tailored and flexible solutions to maximize your business performance; 
Packaging & Merchandise | Everything you need to protect your belongings.

RedBox Mini Storage makes de-cluttering your residence simple and stress-free. For however long you need space, we are here to help. Whether it’s extra furniture, sporting equipment, seasonal clothes or an extensive collection of rare antique books, RedBox Mini Storage has a personal storage solution custom-made for you. Just tell us about your clutter and we’ll advise you the rest of the way. Your valuables are always valued in our care.

For more information on RedBox, visit www.redboxstorage.com.hk

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