When moving abroad, insuring your belongings in storage is an important step in ensuring safety. Discover Flexistore's small storage services, which offer a safe solution for storing goods while living abroad. Your goods can usually be protected by insurance even while living abroad. There are several options – extending your current home insurance to cover stored goods, purchasing separate storage insurance or taking advantage of the insurance cover provided by the storage company. At Flexistore, your goods are insured for the entire duration of storage.
Can stored goods be insured?
Insuring your furniture, clothes and other personal belongings while living abroad is entirely possible through a number of different insurance options. Book a suitable small storage facility from Flexistore, where your belongings will be safe. In Finland, insurance companies offer various options that are specifically suited to this need.
The most common forms of insurance in this situation are either extending your regular home insurance to cover stored goods or taking out separate contents insurance. Many insurance companies allow you to modify your current policy to suit the situation without having to purchase a completely new policy.
How does home insurance cover stored goods while living abroad?
Many home insurance policies also cover your belongings during temporary storage, but it is important to check for various limitations. Standard home insurance may only be valid for 3-12 months after the goods have been moved to storage. After this, the insurance coverage typically ends or must be extended separately.
Insurance companies vary considerably in their policies. Some companies offer special terms for customers moving abroad, while others may limit the maximum amount of compensation for stored goods. It is also common for home insurance to not cover valuable items (such as jewelry or artwork) in the same way as regular personal belongings.
It is important to notify your insurance company in advance of any storage or moving abroad. In many cases, insurance companies also require that the storage facility meet certain safety criteria, such as locking and fire alarm requirements.
What types of special insurance are available for stored goods?
There are several types of specialized insurance available for storage. The most common is property insurance, which generally covers stored goods against theft, fire, water damage, and other similar risks. There are also specialized insurances available for valuables, which offer more extensive protection for items of higher value.
Finnish insurance companies usually price such insurance based on the total value of the goods, the security of the warehouse, and the length of the insurance period. Costs typically range from a few tens of euros to hundreds of euros per year.
Small storage companies often work with insurance companies to create customized insurance options specifically designed to protect the goods being stored. These policies can often be tied directly to the storage service, making the process more hassle-free for the customer.
What documents are needed to insure stored goods?
Insuring stored goods usually requires the submission of certain documents. The most important of these is a detailed inventory of assets, which details all the goods being stored – especially more valuable items.
- Comprehensive list of movable property with valuations
- Receipts or appraisal certificates for the most valuable items
- Photos of particularly valuable items
- Storage facility safety certificates or information on security measures
- Identity document and address information abroad
Insurance companies may also require security information about the storage facility, such as a description of the locking system, alarm system information, and fire safety solutions. Reliable storage companies usually provide these documents directly to customers.
How long can stored goods be insured?
The length of the insurance period varies by company and type of insurance. Short-term insurance is typically available for 3-12 months, while longer-term insurance can be purchased for up to several years at a time.
Once the insurance period has been determined, renewal of the insurance is usually done by simply notifying the insurance company. Renewal usually does not require new documentation unless there have been significant changes to the goods being stored.
Key considerations for insuring stored goods
When insuring stored property, it is essential to consider the coverage of the insurance. Check in particular what damage events are covered by the insurance and what any limitations are. For example, damage caused by fire or water damage is usually covered, but damage caused by pests may not be covered.
Before storage it is recommended to:
- Photograph all items to be stored
- Create a detailed list with value assignments
- Compare different insurance options and their prices
- Checks the safety and suitability of the storage space
Small storage experts recommend that you carefully check the insurance coverage before signing a contract. For particularly valuable items, it is a good idea to consider additional insurance in addition to the standard contents insurance. A secure storage facility is of paramount importance for insurance purposes – a well-protected storage facility can significantly reduce insurance premiums.
