Insurance for self storage units?

4 Replies

I'm considering purchasing a single 19 unit self storage facility. What kind of liability insurance should I get, and how much should I expect to pay?

i just bought a 15 unit 5300 sqft value of 65000 and its 300 a year.   I get a good deal on insurance.  Thats replacement and liability which i recommend  Better just get a quote.

Thanks, Patrick. Does that cover theft? Or would you release yourself from that liability in the lease?

StorageFirst is a good national insurance company.  Your insurance will not cover the contents of the buildings.  Because you dont have access to your customers belongings, you do not create a bailment and therefore insurance is much more affordable than traditional warehousing insurance.  I pay around $2500 on a 12,000 square foot facility.  Think it comes with half a million of liability.