Is Storage Insurance Necessary? Here’s What You Need To Know

An increasing number of individuals, homeowners and business owners have turned to self storage in Singapore in recent times, thanks to the affordability and ease of use. Not only is it a cost-efficient method of freeing up extra space, using storage rental in Singapore is also a great way to keep your valued belongings safe.
It is important to choose the ideal storage facility that will best suit your needs. Some factors to consider are location, accessibility, security and flexibility. Once you have found the right storage space for rent in Singapore, don’t forget about another vital detail: Storage insurance.
Do I need to get insurance when using self storage in Singapore?
Yes, it is mandatory to get insurance when using storage rental in Singapore, especially if you are keeping higher-value items. In the unlikely event of loss or damage of your belongings, you can seek restitution from the insurance company.
You can get insurance through the storage facility that you are using. It typically does not cost much and you get valuable peace of mind. At SelfStore, our friendly staff will provide customers with more information about the insurance coverage and policy during the sign-up process.
How much does insurance cost at SelfStore?
The price depends on how much in value it covers and starts from a nominal sum of $1. There is also a flat administrative fee of $2. The insurance covers up to $50,000 in value.
What if I want to store items that are worth more than $50,000?
You may purchase an insurance place with higher coverage through a third-party provider on your own if you wish.
How does it work and what should I do if I want to file a claim?
You may select how much coverage you want during the sign-up process when reserving your storage units. You will be required to declare the market value of the items you are storing. We recommend making a clear list of all the items you have in storage and taking photos of them before you leave the storage facility.
Should you wish to file a claim for any unforeseen circumstances, the insurance company will get in touch with you for relevant information and assessment. They will handle all the necessary paperwork and procedures. Do note that SelfStore is not the insurer.
Aren’t my items safe enough in your storage units?
Self storage in Singapore is generally safe and reliable due to our low crime rates and lack of natural disasters. For added security, SelfStore’s storage facilities are equipped with CCTV cameras that are operational round the clock to ensure 24/7 surveillance. Only registered customers can access our premises with their access card and personal key lock.
But while we try to ensure tip-top security in our storage facilities, you can never be too careful because unexpected situations can occur anytime. Hence, insurance is definitely essential and provides you with peace of mind. After all, it’s better to be safe than sorry!