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Business expansion or just simply having equipment or assets that are only needed at certain times of the year could mean a requirement for a commercial storage facility. It could also mean that a person purchases their own storage facility which may mean they could house items from their business there at any point without being reliant on rentals. Alternatively a person might purchase a commercial storage facility in order to rent it out. Whatever the reason behind the purchase of a storage facility it might be necessary to have commercial storage facility insurance in order to protect the investment made or to make sure that there is cover in place in case a member of the public were to make a claim.

Being prepared by way of a suitable storage unit insurance policy could be just the thing that a business needs to protect against theft, damage or fire. It might not be possible to recover the actual possessions in such circumstances but insurance might protect against heavy financial losses. A business owner may require buildings and contents insurance if they own the storage facility and everything kept within it.

Getting cheap cover might be possible by searching online via a UK comparison company. This could make life much easier and may mean securing a storage insurance policy much faster than if a person was searching on their own using more traditional means. Contacting insurance companies one by one might be both time consuming and fruitless as this type of cover might only be offered by specialist insurance companies. To compare quotes ahead of buying a policy could mean making an informed choice when it comes to settling on a particular insurer. Purchasing commercial storage facility insurance could be a wise step forward in protecting business assets.

What is commercial storage facility insurance?

Sometimes referred to as self-storage facility insurance, commercial storage facility insurance is designed to protect your property, inventory and cover you against public liability. The policy will typically cover you for damage or loss as a result of fire, theft, extreme weather and accidents which your business may be liable for. The requirements of storage facility operators may differ between operators so it’s important to consult your policy details to confirm you are getting the coverage you need. At minimum you should have coverage for the following:

• Property/building insurance: This will insure your physical storage facility against damage and loss
• Public liability: This will cover you against liability claims as a result of property damage and injury to third parties

There are some additional forms of coverage that you may also wish to include in the form of policy ‘add-ons’ if not originally covered in your insurance.

What are potential add-ons for commercial storage facility insurance?

Having business interruption insurance added to your storage facility policy can provide a great safety net for your business should things go wrong. A fire for example has the potential to completely ruin your storage facility, rendering your business inoperable until repairs and rebuilds are complete. During this time you’ll be unable to continue your operations and so your revenue for this period will be directly impacted.

Another common add-on for storage facility policies include cyber liability insurance, This will insure your business against liability claims due to data breach or cyber attack.

Who needs commercial storage facility insurance?

Running a commercial storage facility naturally comes with it’s own risks. These risks include the potential of property damage, damage to client property in storage,  liability cases as well as injury to warehouse workers on the job. Given these risks, it is highly advisable that you take out the coverage needed to insure against them. If your company operates a storage facility then you will benefit from a storage facility insurance policy.

Can Quotezone help me find cheaper storage facility insurance?

Quotezone.co.uk is a non-biased, independent comparison tool. Our panel of specialist UK based providers can help you find cheaper storage facility insurance from across the UK insurance market. With over 3 million users and 97% of reviewers recommending us, why not try us for yourself.

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