Make sure your storage unit is properly insured

Sometimes you just don't have enough space around the house.

Before you put anything in storage, make an inventory of everything that's going inside that storage unit with the estimated value. You'll need that if there's a fire or some other disaster.

FYI: The storage company may try to sell you insurance. Jeanne Salvatore with the Insurance Information Institute reminds us that you already have some coverage from your homeowners or renter's insurance policy.

"You're going to be covered for the same thing that the home or renter's insurance policy would cover," she said. "So things like theft of if there was wind or fire damage. You're not going to be covered, for instance, if the storage unit wasn't properly maintained. For other things that might happen at the storage unit, find out what type of coverage they provide."

If you're putting something especially valuable in there, you may want to get separate coverage for that item.

More Information:
Don't Get Into a Storage War; Make Sure Your Storage Unit Is Properly Insured