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Insurance: Why it’s important to not undervalue your contents

Julian Jones
  • Julian Jones
  • 26th December 2022
  • Storage Containers Storage for Business

Insurance.  You know it’s a good idea.

We include up to £25,000 insurance in our pricing. It’s really important that you don’t undervalue your contents, as you can see from this example;


You have declared that your goods are worth £25,000. You think they are probably worth more than that, but £25,000 is better than nothing, after all!

Disaster: Unfortunately a van hits your unit, and a number of items get damaged.  The cost to replace them is £10,000 so you put in a claim for £10,000.

Outcome: The underwriters from the insurance company assess your claim.  They look at the items in your unit(s) and decide that the true replacement value of all of your items is £100,000, not the £25,000 that you declared.  You have only declared 25% of the actual replacement value, so they will only compensate you for 25% of your claim.  As a result, they will only pay out £2500 minus the excess.

Please note that this is not unique to self storage, this applies to home insurance too. You may want to check the wording of your policy.

If your contents are worth more than £25,000, please do speak to us.  It may be possible for us to provide an additional level  of insurance to save you having to go out and find more.