If It's Worth Storing It's Worth Insuring
We work hard to keep your things safe but wherever you store your things there is always a risk that they could be damaged or lost. A fire could destroy all stored items.
No storage company can guarantee that the things you store will remain free from loss or damage in all circumstances. Due to the value of items in storage Storagebase is unable to agree to indemnify you for any loss. For your protection you must have insurance for the full new replacement value of all stored items.
Some policies are designed to only pay the current market value which would not usually be enough to allow you to buy new replacement items. Storagebase insurance is designed to pay out the new replacement value to allow you to replace lost or damaged items that cannot be repaired with new rather than second hand items.
You must declare the new replacement value of all items in storage. This may be more than you paid for the items and may not be the same as their current resale value.
All risks are covered by the Storagebase insurance policy unless specifically excluded. The Storagebase policy is a specialist storage policy arranged through Royal Sun Alliance, one of the largest insurers in the UK.
Certain risks such as loss due to war are not covered. If you require cover for an excluded risk you must obtain this independently. If you choose not to use the Storagebase insurance you must provide proof of your own alternative insurance before you start storing.
You cannot choose not to have storage insurance. You can vary your level of cover easily as you add or remove items from storage.
Insurance can only provide financial compensation and this may not be able to make up for the loss of sentimental items.
We recommend keeping separate digital or other copies of important sentimental items.
You may wish to keep items of particular sentimental value elsewhere e.g. in a safety deposit box, with friends or with family.
Storage Insurance Terms & Conditions
These are the terms and conditions of the Insurance provided by Royal & Sun Alliance Insurance plc. (RSA) (the Insurer) and arranged by Basil E Fry & Company Ltd (the Broker).
The Insurer will pay for any loss or damage, up to the value declared by you, to the Self Storage Operator, subject to the conditions and exclusions detailed below.
" New For Old "
In the event of total loss, destruction or damage beyond repair of any article the basis of settlement shall be the cost of replacing or reinstating the article, providing the article is substantially the same as but not better than the original when new.
Basis of Settlement for Documents
The basis of claims settlement shall be limited to the physical cost of replacing the documents excluding the value of the information contained thereon and/or cost of reprinting, reissue and/or reconstitution.
Property Which is Not Insured
Furs exceeding £100 in value,
Precious Stones & Metals
Money, Coins, Deeds, Bonds, Securities
Stamps of all kinds
Electronically held Data Records
Electronic articles above a total of £10,000.
Items prohibited by the storage agreement.
Insurers will not pay claims for
Loss or theft of items other than following violent and forcible entry to or exit from the storage container, room or premises.
Accidental damage unless as a direct result of violent and forcible entry to or exit from the storage premises.
Loss or damage caused by wear and tear, gradual deterioration, inherent vice or latent defect.
Loss or damage caused by Damp, Mould, Mildew, or Rust unless caused by the negligence of the Operator.
Atmospheric and/or climatic Causes. (Loss or damage from storms & floods is covered)
Loss or damage caused by Leakage of Liquid from any Receptacle or Container within the Customer’s own room(s)
Indirect or consequential loss of any kind or description.
Electrical, electronic or mechanical derangement to any electrical, electronic or mechanical items unless as a result of fire. Any loss of or damage to electronic equipment resulting from configuration failure of the controlling software and/or microchip.
Confiscation or destruction or damage under the order of any Government, public or local authority.
The first £50 of any claim (the excess).
War. Any consequence whatsoever resulting directly or indirectly from or in connection with any of the following regardless of any other contributing cause or event – war, invasion, act of foreign enemy, hostilities or a warlike operation or operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, civil commotion assuming the proportions of or amounting to an uprising or military or usurped power.
Any action taken in controlling, preventing, suppressing or in any way relating to (11A) above.
Radioactivity. Ionising radiations from or contamination by radioactivity from any nuclear fuel or from nuclear waste from the combustion of nuclear fuel.
Loss, damage, liability or expense directly or indirectly caused by or contributed to or by or arising from
the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof,
any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter,
the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter. The exclusion in this sub-clause does not extend to radioactive isotopes, other than nuclear fuel, when such isotopes are being prepared, carried, stored, or used for commercial, agricultural, medical, scientific or other similar peaceful purposes,
any chemical, biological, bio-chemical or Electro-magnetic weapon,
the use or operation, as a means of inflicting harm, of any computer, computer system, computer software programme, computer virus or process or any other electronic system.
If the sum insured is less than the actual new replacement value of your property at the time of loss, then you will only be entitled to be paid that proportion of the loss which the sum insured bears to the value of the property removed and/or stored.
Pairs and Sets
It is the intention to pay the actual value of individual items. It is not the intention to pay for items which are not affected. If, therefore, a claim is made for an item which is part of a pair or set, then Insurers will only pay the actual value of that item in isolation. The payment will be made without reference to any particular value the item might have acquired simply because it is part of a pair or set.
Subject to payment of the actual value of a damaged item by Insurers, they may at their discretion take over ownership of the property. No property may be abandoned to Insurers.
If a claim is fraudulent in any way, it will not be paid. The insurance will be deemed not to have attached and no premium will be refunded.
No claim may be made where any payment to Storagebase is overdue at the time of the loss or claim.
The parties to this contract have the right to choose the law that should apply. Insurers choose to apply English Law except for those customers who at inception of the contract are domiciled in Scotland, Northern Ireland, Channel Islands or Isle of Man where their own law will apply.
Any claim must be notified to Storagebase at the time of discovery and before items are removed from the store. You must allow Storagebase to inspect all items in the storage room at the time any loss or damage is discovered.
You must minimise the risk of any further claim which may require you to move items to an alternate storage room.
Any claim must be advised in detail to Storagebase in writing within seven days of discovery of damage/loss including an inventory listing the new replacement value of all damaged an undamaged items.
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