Help required! - Insuring property in a storage facility

Mar 24, 2006 7 Replies

Dear All,



I'm not sure if I've come to right place, but I'm hoping I'll find someone with some insurance knowledge.



I am in between properties and am moving out of my flat this weekend and putting my flat contents into a storage facility. The storage people demand that I insure my stuff, but they are asking 15 a week for insurance - which is more than the cost of a month's contents insurance for my flat!



Does anyone know of any companies that offer insurance for belongings kept in storage facilities, I've had no luck whatsoever finding anyone so far !



Many thanks Richard


This seems rather odd - maybe you could invoice them for the cost of storing your stuff. Why store it in a place that isn't even willing to take the risk of actually storing it safely?

Are all these storage places so ludicrous?

Jim.

Check your house contents policy - it may cover stuff in store for a period of time.

Ian Cornish wrote in news:UbKdndHD snipped-for-privacy@eclipse.net.uk:

Sadly it doesn't...

Richard

In message , Jim Ley writes

Theres nothing special about their reluctance. Banks wont insure safe custody items either.

IME Yes (though they may not make it compulsory).

What really annoys me about the ones local to me is they give you a first two weeks free deal.

You store stuff for 4 weeks and you pay 50% of the bill. Store somethings for 400 weeks and you pay 99.5% of the bill, that seems the wrong way round to me. They should be discounting the long periods, not the short ones.

It also doesn't seem to encourage booking an 'oversize' room to fill over several months. It is cheaper to take the smallest room for 4 weeks (getting two free), when it is full book a larger room for 4 weeks (getting 2 free) and move into that, when it is full book the next size room for 4 weeks (getting 2 free) etc.....

ISTM that the policies followed by these companies are designed to make them uncompetitive, god knows why

tim

You have used an insurance broker, have you ?

"Fergus O'Rourke" wrote in news:48n4dpFk1attU2 @individual.net:

I just had a basic house contents insurance with LloydsTsb - in the end I went to a couple of local insurance brokers who said that typically insurers stay well clear of "lock-up" storage type places as the cover is typically for a short period of time and relatively high risk, so I stumped up the daft 14 a week that the storage facility provided. Ho hum.

Thanks everyone for the pointers though.

Richard

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