All our customers must maintain insurance to cover their goods for the duration of their stay.

What is the value of cover needed?

The amount of cover you choose should, as accurately as possible reflect the full replacement value of the items in your unit. When deciding on cover to go for it is important to remember that in the event of a claim the insurance company may reduce your claim for under-insurance if you do not declare the full replacement value.

Example

Insured value: Goods in storage are insured for £2,000, however their full replacement value is £8,000. You have only insured your belongings for 20% of their true value.

Incident: A liquid has leaked into your unit from the one above, damaging your bed. To replace your bed would cost £1,000, so you make a claim for that amount.

Claim: The insurance underwriters inspect your unit and determine that you have insured for only 20% of the true replacement value of your goods.

Pay-out: In this scenario you would only be compensated for 20% of the £1,000 you have claimed for, which would be £200. Consider the £100 policy excess and the final pay-out would be just £100.

We strongly advise against under-insuring your goods! If you have any questions about insurance, please speak with our storage experts in in Store.

Replacement value means the cost to purchase your items from new. Your cover will be based on replacement value, so you will need to declare the new item value.

Summary of Insurance

Our Summary of Insurance can be found by clicking here. [Summary of Insurance Cover]

For more information, please speak to a member of our team by contacting us on hello@cinchstorage.co.uk.