Storage unit insurance, explained

Usually not. A facility's insurance is generally there to protect its own business. Check your storage agreement, and ask the facility what, if anything, it covers.

It depends on your policy. Some home and contents policies offer limited cover for goods kept in commercial storage, often with lower limits or extra conditions. Others offer none. Check your own policy wording, or ask your insurer, before you rely on it.

SSIA Storage Insurance covers household goods, personal effects and contents, including goods used in a small business, while they are in storage at an SSIA approved facility. Cover is for physical loss or damage directly caused by the insured events listed in the policy schedule: accidental damage, fire, lightning, impact, explosion, earthquake, tsunami, aircraft, riots and strikes, malicious damage, rainwater, storm or tempest, and theft following forcible entry. Your own schedule confirms your cover, up to the sum insured you choose. Rainwater is not flood, and flood is excluded. The excess is $250 for each claim, as shown in your policy schedule.

Some causes of loss are not covered, including flood from rivers, lakes or dams, wear and tear, pests and mould, poor packing, and loss that cannot be explained. Some items cannot be insured, including vehicles, fuel and chemicals, cash and bullion, perishables, and jewellery or artwork above set values. The PDS and TMD have the full lists.

SSIA Storage Insurance is only available for goods stored at an SSIA approved self-storage facility. If your facility is not approved yet, this cover is not available for goods stored there. Check what your home and contents policy offers, or ask your facility whether it plans to become approved.

You choose a set number of months when you apply. Policies are not renewable, and the maximum policy term is 12 months. If you need storage cover for longer, take out a new policy for the extra time, starting from the date your first policy expires. You will be sent expiry emails in advance to help you plan. During your policy, cover applies while your goods are inside your locked storage unit or secured area at the facility. It does not cover goods in transit, or while they are being loaded or unloaded.

Yes. You have 15 days to change your mind. If you cancel in writing to SSIA within 15 days of your policy starting, and you have not made (and are not entitled to make) a claim, you get a full refund. After that, you can cancel at any time by telling SSIA. If you have not made a claim, you get back the unused part of your premium.

If something happens, stop further damage where you can, report loss or theft to the police, and contact the Claims Department named in the PDS directly, as soon as you reasonably can. You do not need to contact SSIA first. Their phone number and email are on our Making a claim page. Do not arrange repairs or replacements without approval, other than emergency repairs.