A storage quote often looks simple until the protection option appears. Many customers ask if self-storage insurance is really needed, or if their home policy covers the risk. At Spacebox, we require cover to be in place for every unit to ensure goods stay protected, and we clarify this choice with a straightforward protection plan. Most home policies limit coverage for items stored away from the main property, which leaves goods exposed to theft or damage. This guide explains what self-storage insurance covers, which exclusions to check, and how the Spacebox protection option, backed by industry specialist Basil Fry, secures stored property against unexpected loss.

What does ‘self-storage insurance’ mean in practice

• Operator-arranged protection: Most storage facilities, including Spacebox, offer a protection option where the operator holds a master policy and the customer becomes the beneficiary, making it simple to get cover without sourcing a separate provider.​
• Customer beneficiary status: You do not buy a direct insurance policy; instead, you accept the protection option on the licence agreement, pay the charges, and gain the right to claim against the operator’s policy if loss or damage occurs.​
• Financial protection: The cover provides compensation for loss or damage to goods while they sit in the unit, but it acts as a financial safeguard rather than preventing physical risks like fire or theft itself.​

Do you need self-storage insurance? (a quick decision check)

• Check the total value: Calculate the replacement cost of every item you plan to store; if the total exceeds what you can afford to lose, insurance provides essential financial security.
• Check home policy limits: Read your home contents policy’s section on “contents away from home” or “items in storage”; many exclude theft unless there is forced entry evidence or place strict limits on single items.
• Check business needs: If you store stock or equipment, a dedicated storage policy protects business continuity when a standard home or business premises policy might not extend to an off-site unit.
• Check facility requirements: Most reputable storage operators, including Spacebox, require proof of valid insurance or acceptance of their protection plan as a condition of rental.

What Spacebox’s Basil Fry–backed protection can cover

• Covered outcomes: The policy covers loss, destruction, or damage to property while stored at the operator’s premises, unless a specific exclusion applies to the item or cause.​
• Settlement basis: Claims settle through repair, replacement, or compensation at the insurer’s option; total loss claims settle on a “New for Old” basis (replacement with a new equivalent), except for linen and clothing, where wear is considered.​
• Document cover: The policy covers the physical cost of replacing documents plus reasonable costs for reprinting, reissuing, and research to obtain essential information, provided the loss falls under covered perils.​
• Limited transit cover: Cover extends to transit only when the operator arranges the transport, and only for specific events like fire, lightning, explosion, or vehicle impact/overturning (customer-arranged transit is excluded).​

What it does not cover (the exclusions customers miss)

• Theft without forced entry: A theft claim requires evidence of violent and forcible entry to or exit from the storage unit; ensure you use a high-quality padlock and check for signs of tampering if goods go missing.​
• Customer-arranged transit: Loss or damage during loading, unloading, or transit is excluded unless the operator arranges the transport; if you hire a van yourself, your goods are not covered by this policy during the move.​
• Excluded property types: The policy pays nothing for money, coins, deeds, bonds, securities, livestock, plants, perishables, explosives, or flammables, so keep these items out of storage.​
• Sentimental value: Items deemed “irreplaceable” or of purely sentimental value receive no compensation beyond their physical market value, so store family heirlooms with care.​
• Condition and climate: Damage from wear and tear, gradual deterioration, moth, insect, vermin, or atmospheric causes is excluded unless caused by an external source like water ingress.​
• Policy excess: You must pay the first £50 of any claim before the insurer settles the balance.​

Limits, restrictions, and the “underinsurance” trap

• Jewellery and valuables limits: The policy limits claims for jewellery, watches, precious stones, and stamps to £1,000 in total, so high-value collections may need separate specialist cover.​
• High-value category limits: Furs, fine art, perfumery, tobacco, and alcohol have a combined claim limit of £15,000; check your inventory against this cap.​
• Electronic items limit: The policy caps claims for electronic items (including phones, computers, and chips) at £15,000 total; list serial numbers for all high-value electronics.​
• Underinsurance rule: If you declare a value lower than the actual total replacement value (e.g., declaring £5,000 when storing £10,000), the insurer reduces any claim payment by the same proportion (paying only 50% of a loss).​
• Non-contribution clause: If another insurance policy covers the same loss, this protection responds only to the amount not recoverable under that other policy.​

How to set the right value (so cover works when you claim)

• Use replacement-as-new values: Calculate the cost to buy every item new today, not what you paid years ago or what it sells for second-hand, because claims settle on a replacement basis.​
• Create a documented inventory: Take photos of all stored items, keep receipts for high-value goods, and list serial numbers for electronics before locking the unit to speed up any future claim.​
• Do not ask the store to value items: The operator cannot advise on valuation; the responsibility for declaring the correct total value sits with you, so be thorough.​

How to claim (and what to do immediately after loss/damage)

• Report immediately: Notify the self-storage operator as soon as you discover loss or damage and before removing any items from the unit; delay can prejudice the claim.​
• Submit details within 7 days: Provide full details of the claim in writing within seven days of discovery to meet the policy notification window.​
• Gather evidence: Take photos of damage and the unit condition; for theft claims, photograph forced entry evidence and obtain a police crime reference number immediately.​
• Mitigate loss: Move wet items away from water, separate undamaged goods, and attempt to clean damaged items where possible (dry cleaning/laundry) before settlement.​
• Contact the claims' agent: The policy directs claimants to RCS, the claims settling agent, whose contact details appear in the summary document; contacting them quickly helps resolve the claim faster.​

Basil Fry’s role (why Spacebox mentions them)

• Specialist expertise: Basil Fry & Company acts as a specialist broker for the self-storage industry and has supported operators since the 1990s, meaning the cover is designed for storage risks.
• Industry reach: The company services over 45% of self-storage facilities in the UK, which signals reliability and sector-specific knowledge behind the Spacebox protection option.
• Broad risk solutions: Basil Fry arranges bespoke cover for operator assets and liabilities, as well as the customers’ goods protection that Spacebox offers.

Spacebox options (what customers can do next)

• Accept the protection option: Tick the protection option on the Spacebox licence agreement and pay the charges to activate the Basil Fry–backed cover for simplicity.​
• Arrange your own insurance: You can decline the Spacebox option if you provide proof of a valid third-party insurance policy that meets the facility’s requirements before you move in.​
• Ask for the summary: Request the full Summary of Cover from the Spacebox team to read the terms before signing the agreement, so you know exactly what is covered.​

Get Spacebox protection set up before move-in

• Request a callback: Visit the Spacebox Protection page to request a call, or contact the team directly to confirm protection details.
• Confirm the value: Calculate the total replacement-as-new value of your goods, so the cover level matches what you store.​
• Activate cover: Select the protection option on your licence agreement to ensure items are covered from the moment they enter the unit.​