If your business has a self-storage unit or you plan to get one for excess property that won't fit on your site, there might be something you have overlooked. You may have insured your items against theft or fire but you might not think to cover natural disasters such as earthquakes onto your insurance.
Are Storage Units Covered for Earthquakes?
There are two answers to this question. In a sense, yes, storage unit facilities typically are insured against earthquakes, especially in areas prone to them. However, this coverage usually does not extend to their customer's property. Their insurance covers their own building against loss and damage.
It is completely up to you once you decide to place your items in storage at any facility to be responsible for insuring your own items. For a business owner, this insurance could very well ensure you keep your doors open after a potential devastating quake or even for a considerably smaller earth movement.
Check the Facility out before You Rent
Chances are if you live in an earthquake zone, you are going to experience at least a small tremor once in awhile. Before deciding on a particular storage facility, take a tour around and pay special attention to structure and maintenance of the building. Ask the operator if there are any special constructions or protections within the facility, such as fireproofing, drainage of water, and reinforced steel beams to protect against collapse.
Your storage facility might offer you insurance coverage but they typically come with some restrictions, such as monetary limits. For your business, you might have property here that exceed those limits so it's best to take the information you get from your questions and tour, then head to a private insurance agency.
Keep a Detailed Inventory of Your Items
Depending on the type of coverage plan you get, you could receive the cash value of your items or you could get replacement cost insurance. Keeping a detailed list of all your inventory within the unit can help you determine the exact value of each item lost and better request the total amount you wish to get back from the insurance company.
While your homeowner's insurance or business insurance might cover some loss of your business items in storage, it most likely will not extend to a natural disaster event like an earthquake. Check with your insurance provider and get fully covered so you don't have to close your doors in the event that the earth moves. Remember to talk to the storage facility, one like All American Mini Storage, to see what policies they offer.