Storage Blog


Tenant Insurance

YES, YOU NEED TENANT INSURANCE If you have yet to consider getting tenant insurance, now is the time to do it! While we highly recommend it to all Modern Storage customers, we know that also comes with a lot of questions. Do you need tenant insurance? How much is it? What does it cover? Let us explain everything you need to know. What Is Tenant Insurance? Tenant insurance is a service offered by SBOA Tenant Insurance (SBOATI) specifically for self-storage customers across the country. Through Modern Storage, you can elect to use tenant insurance to help protect your items.Tenant insurance covers the worth of your belongings in the event they are destroyed, damaged, or affected from any of the following disasters: Windstorm Landslide Vandalism Civil Commotion Explosion Snow Aircraft Building collapse Earthquake Falling objects Fire and/or lightning Smoke Tornado Burglary However, certain things are not covered by tenant insurance: Damage caused by pre-existing conditions Mysterious disappearance of items Overflow of water from a body of water General wear and tear Loss or damage caused by neglect Damage cause intentionally Damage resulting from activity in violation of your lease How Much Does Tenant Insurance Cost? The next thing you should know about tenant insurance is how much it costs. That way, you can budget appropriately when looking at storage unit prices.Thankfully, tenant insurance is very affordable, and it goes a long way in protecting your items. For as little as $9 a month, you can have a $2,000 policy covered!There is also no deductible or long-term commitment. Just like your storage unit, your tenant insurance is month-to-month.Here are the current coverage options you can choose from: $2,000 coverage for $9 a month $3,000 coverage for $14 a month $5,000 coverage for $22 a month How Would I Make a Claim? In the event of an incident, document the damage with photos and contact your storage facility manager immediately. We also recommend creating a file of the photos on your computer or mobile device and sending them to an SBOA agent with proof of loss, including a sworn statement of loss.The agents will then take your statement and send you forms to document the ...

July 13th, 2021