Personal contents, often those of great value, are kept in storage cages and sadly this makes them an attractive target for criminals.
As an insurance broker, we have seen items like televisions, furniture, skis, and racing bikes worth over $5,000 stolen from storage cages. Yet in many cases, owners of these items fail to realise they lack the right insurance to cover the loss and / or replacement of these items.
This article clarifies some common myths to help you educate your clients and ensure they have the right insurance protection to cover valuables kept in storage cages.
Myth 1 – Storage cages are in the common area, therefore contents of storage cages are covered under Strata Insurance.
Incorrect. Despite storage cages being situated in what may be deemed a common area, it doesn’t mean the contents are covered by Strata Insurance!
Strata Insurance is only designed to cover the building structure including fixtures and fittings, and Public Liability for the common areas.
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