What Kind of Insurance Do I Need for a Self Storage Business?
- Nate Jones, CPCU, ARM, CLCS, AU
- Nov 13
- 2 min read
Owning a self storage business comes with unique risks—from property damage to liability claims. Having the right insurance coverage is essential to protect your investment and ensure smooth operations.
In this guide, we’ll break down the types of insurance every self storage facility should consider.
Why Insurance Matters for Self Storage Businesses
Self storage facilities handle customers’ belongings, operate expensive equipment, and maintain valuable property. Without proper coverage, a single incident—such as theft, fire, or injury—can lead to significant financial loss. Insurance provides peace of mind and compliance with lender requirements.
Essential Insurance Policies for Self Storage Businesses
This is the foundation of your coverage. It protects against third-party claims for:
Bodily injury (e.g., a customer slips on your property)
Property damage caused by your operations
Legal defense costs
Your buildings, storage units, and office equipment are major investments. Commercial property insurance covers:
Fire, theft, and vandalism
Storm damage
Equipment breakdown
If your business uses vehicles for maintenance or customer services (like truck rentals), you need commercial auto coverage. It protects against:
Accidents
Vehicle damage
Liability claims
Required in most states if you have employees. It covers:
Medical expenses for work-related injuries
Lost wages
Employer liability
Self storage facilities rely on security systems, gates, and sometimes heavy machinery. Equipment insurance ensures these assets are protected against breakdowns or damage.
Optional Coverage to Consider
Umbrella Insurance for extra liability protection
Business Interruption Insurance to cover lost income during closures
Cyber Liability Insurance if you offer online booking and payment systems
Final Thoughts
Insurance isn’t just a requirement—it’s a smart business decision. A comprehensive policy protects your property, employees, and customers, ensuring long-term profitability. At Wexford Insurance, we specialize in self storage business insurance programs tailored to your needs.
Contact us today.
