Insurance is compulsory when storing items and this page is designed to help provide you with guidance in that regard.

If you would like to store with us you will need to insure your goods, either under your own policy, or by asking us to cover your items under our policy. If you would like to include your items under our policy there will be small additional fee, which can be added to your weekly license fee. However, if you intend to rely on your own cover you will need to show us a valid certificate of insurance, so we can maintain a copy for our records.

Why do I need insurance?

This will provide cover against loss or damage to your goods during the period of storage. If your goods are not covered by insurance then you are likely to be left out of pocket if your goods are damaged or stolen.

While we take every precaution to ensure your property is kept safe and secure, nobody could ever provide an absolute guarantee, for example a flood or other extreme weather could cause damage to your stored items. The License Agreement that you sign in order to store with us specifically excludes our liability in relation to damage or loss unless you have taken up the insurance option and have provided us with an inventory and written declaration of values.

Doesn't my household insurance cover storage?

Possibly not, many household policies only cover goods in the house and not in transit or storage. You should also keep in mind that household policies often have a higher excess than storage insurance. You would be well advised to make enquires with your insurer if you intend to use your household policy.

How much is covered?

When you finalise your agreement with us, you will be asked to complete an inventory of items you intend to store. This will ensure that the insurance company can properly evaluate your claim in the event of a loss. As well as itemising your goods you will also be asked to provide their respective values, which again will help in the event of a claim.

 

How do I calculate what sum I need to insure?

Valuing your goods isn't something that we can do for you - but we can give you some guidance:

If you are placing items into store which, if totally lost or destroyed, would not be easily valued by reference to list prices or the like, it is strongly recommended that you have recent pre-storage professional valuations or purchase receipts in your possession. It would be solely your own responsibility to provide evidence of values being claimed and if, to give an example, you lost a painting in a fire, this would be virtually impossible to prove unless you had formal documentary evidence prior to moving your property into storage.

For specialised items, particularly works of art or antiques, the sum insured should reflect their current replacement value as evidenced by a recent professional valuation.

If you are storing your complete household contents you might consider whether applying the same sum insured as your Household Insurance policy would be appropriate.

The cover provided is not ‘new for old’. The sum insured should represent the full value of the property being stored, based on the replacement cost of like for like articles of a similar age and condition.