In the self-storage business, standard leases require tenants to have property insurance covering their stored items and to release the storage operator from liability. Our basic lease requires that too. This means if your items are damaged or stolen, Storage West will not be responsible. You will have to deal with your insurance company to get reimbursed for your loss. However, we recognize that many people don’t have property insurance, or it’s inadequate (some property insurance policies don’t cover items stored in storage units). Even if your loss is covered by your insurance, there is usually a deductible that you have to pay out of your own pocket. So we offer our customers another choice, our Preferred Lease.
Storage West created the Preferred Lease because we are committed to providing our customers with choices. The Preferred Lease option includes our written guarantee to provide you with a secure and well maintained storage unit. If your stored items are damaged or stolen because we didn’t do our job, we will take responsibility and pay you up to the level of protection you choose. You will only deal directly with us, no insurance company or third party claims adjusters will be involved. There is never a deductible for you to pay. All customers on the Preferred Lease also enjoy additional benefits.
How will I benefit from the Preferred Lease?
- In our Preferred Lease we agree to pay for your property damage or theft if, for example, we can’t stop a break in, or if the roof or our pipes leak.
- If the damage resulted from our liability, we will pay you up to the maximum amount of protection you selected (insect and rodent damage, up to $500.00.)
- No deductible and no insurance company to deal with.
- Special exclusive offers
- 50% discount on furniture and mattress covers
- Discounts on merchandise like locks, boxes, etc.
What is a Preferred Lease?
- It is a modified lease that gives you extra benefits when renting from Storage West.
- With a Preferred Lease, Storage West guarantees that we will provide you with a secure and well-maintained storage unit for your goods.
- We will pay you for damage or theft of your stored items up to the dollar amount you selected, if we fail to provide secure storage.
- If you have a claim, we promise to work with you to resolve it quickly and fairly.
- You also get reduced prices on select merchandise such as locks, boxes, furniture covers, and other specials. For more benefit information, click on the Preferred Lease brochure links located at the bottom of the page.
Is this Insurance?
- No. It is a limited assumption of risk by Storage West.
- There is no deductible to pay and no insurance company to go through.
- Insurance can cover your own negligence, third party actions, and acts of god. Preferred Lease protections apply only to Storage West’s own liability – when we’re responsible, we pay.
How much does a Preferred Lease cost in additional rent each month?
- There are four tiers of protection available:
- $5.95 of additional rent for up to $500 of protection (*units of 45 square feet or less only)
- $9.95 of additional rent for up to $2500 of protection.
- $12.95 of additional rent for up to $3500 of protection.
- $17.95 of additional rent for up to $5000 of protection.
What is not covered?
- Losses caused by you or by Acts of God (such as floods or earthquakes) or other things listed in the Preferred Lease Addendum are not covered.
- Items that you are not allowed to store per the Rental Agreement are not covered, such as jewelry and cash, and prohibited items such as hazardous materials.
- Personal injury and damage to property outside of storage unit are not covered.
Is the Preferred Lease required to rent a unit at a Storage West Facility? Is it mandatory?
- No, you have another option.
- Our basic Rental Agreement requires all of our tenants to have property insurance for their stored items.
- Examples of property insurance are homeowner’s, business or renter’s insurance.
- Just bring us proof of your property insurance, and you will have met the requirements of the basic Rental Agreement.
- Also, if you select a Preferred Lease when you rent, but change your mind later, you can “opt out” by providing proof of insurance. You can do this at any time.
If I have property insurance on my stored items, why should I also select a Preferred Lease?
- Many property insurance policies do not cover items in storage.
- Many property insurance policies have deductibles.
- Many property insurance policies do not cover insect or rodent damage.
- Because the Preferred Lease is not insurance, it has no deductible and your property insurance rates won’t be affected if you make a claim with us.
- Any payment from Storage West would be in addition to any reimbursement you might receive from your property insurance.
What if what I’m storing is not worth much?
- You may feel that way now, but if something happens, you’ll be glad you spent only a few cents more per day to protect your items.
Click on the link below to download a copy of our Preferred Lease brochure
If you have any questions regarding our Preferred Lease, please call the telephone number listed on each facility webpage to speak with one of our knowledgeable managers.