Insurance - Your Choice

Storage Insurance:

Many people believe their goods are automatically insured when in a self-storage facility, but this is not the case. We take all care to ensure your goods are in a protected environment, but they are not insured unless you:

• have a householder policy that covers your goods whilst in a self-storage facility
  OR
• take out insurance with us when you move-in.

Householder Policy

Although incidents in self-storage facilities are rare - it’s important to continue the cover you have on your goods while they are in storage. Call your insurer and check that your goods will be covered AND what they will be covered for. Each insurance company has different requirements and coverage. Let them know about the facility where you are planning to store your goods and find out exactly what will and won’t be covered.

At Karis Self Storage - we have individual access codes, back to base security monitoring, PE sensor beams on perimeter fencing, CCTV security cameras which are monitored off site and nightly patrols. Each unit holder is the only person who has a key to their individual unit. The facility owners do not have access to the unit.

If the insurance company states you will be covered - make sure you are satisfied with the cover they offer. You must notify your insurer of the self storage facility name and address and the date from which you will be storing your goods there. Be sure to have them verify in writing that your goods will be covered and exactly what they are covered for.

What if I don’t have cover or the insurance company doesn’t offer the cover I want?

Insurance is for your peace of mind. It covers many of those events which can’t be predicted but which would cause loss if they occurred. If you have:

1. no insurance on your goods
   OR
2. your current Householder Insurance Policy excludes cover for your goods whilst they are in commercial storage
   OR
3. your Householder Insurance Policy doesn’t cover flood or theft whilst I storage - then we can offer you a comprehensive cover that will continue to give you peace of mind.

What is Covered?

At Karis self Storage, the insurance coverage we offer is:

• CGU Insurance Limited (ABN 27 004 478 371 AFSL 238291)
  Australia wide storage perils of fire, lightning, aircraft, earthquake, storm and tempest, flood, water from fixed pipes or systems, riots, strikes and civil commotion, explosion and impact damage. Burglary (visible and violent entry) is covered to a maximum of $25,000 only. No cover for Accidental Damage or Theft.

How much are my goods covered for?

That depends on what you put on the Insurance Declaration Form. Simply list the larger items you are storing, the amount you wish to insure them for and total the amount. It costs $2.20 per $1,000 per month to insure your goods.

If you have, e.g. a box of linen - then you don’t need to specify each item - ‘box of linen’ and the total value of what is in the box is enough.

We also do NOT offer cover or accept responsibility for jewellery, coin collections or other precious items. These should be stored in a bank safe security box.

For goods over 7 years old, unless they are antiques, only their ‘market value’ can be written, i.e. the price you would get for it today if you sold it. For goods under 7 years old, the new price can be written as the value if you wish.

Antique Furniture - For antique furniture, the insurers will only pay the reasonable costs of repair and will not pay any depreciation or loss of value caused by the loss or damage.

Average - Be aware that in the event of a claim, if the goods are not insured fully then ‘average’ will be applied. For example, if you didn’t declare all your items as above and wrote $10,000 and there was reason to claim, then if it is found that your goods were actually valued at around $20,000, you would only receive 50% of your claim.

Any Questions?

We have a comprehensive insurance booklet which covers all the questions you may have about insuring your goods whilst in storage. It also includes our Policy Wording, Product Disclosure Statement, Financial Services Guide and an Insurance Declaration Form.

Contact us here and we will forward it to you via email or post.