Insurance Information for Bin Rentals

Insurance Coverage for COOL-BINZ: What to Know

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COOL-BINZ partners with Storage Protectors to provide insurance coverage options for every COOL-BINZ container rental. This not only adds another layer of protection for our bins but it also offers our clients additional peace of mind to help deliver a true “worry-free storage” experience.

Basic Coverage: What’s included with every rental?

Every COOL-BINZ rental includes “damage waiver coverage” as part of the cost of the bin rental. This covers up to $5,000 in damage to the mobile storage container itself. This includes bin damage that may occur due to:

  • Burglary – forced entry
  • Vandalism
  • Fire or lightning
  • Smoke
  • Windstorm or hail
  • Limited water damage
  • Weight of snow, ice, or sleet
  • Falling objects
  • Riot or civil commotion
  • Explosion
  • Sonic Boom
  • Sinkhole collapse
Locking a truck door

Additional Coverage: Contents Insurance Options

If you would like to extend protection to the contents stored inside your bin, you can purchase an additional contents insurance policy at the time of your bin rental. There are several contents insurance options available, with coverage ranging from $2,000-$20,000.

How is this different from coverage under homeowners insurance?

Many people wonder why they would choose a dedicated supplemental policy for contents on top of their existing homeowners policy. For starters, every home insurance policy is different – some offer contents coverage, and some don’t. The best way to understand any contents inclusions or exclusions in your existing policy is to contact your homeowners insurance provider.

Additionally, the deductible on many homeowners policies can be higher than the total cost of stored valuables. So, if items are damaged in storage, you’d still be out the full cost to repair or replace them, which is essentially the same as having no coverage at all. Supplemental contents policies, on the other hand, have a much lower deductible to meet before coverage kicks in.

Regardless of what your homeowners policy covers, opting for supplemental contents coverage with your bin rental is a simple way to ensure your stored belongings are covered the entire time they are in your mobile storage bin–even if they’re in transit

Storage Protectors explains it this way: “You get a more affordable, more comprehensive layer of coverage with no risk of premium increase should a claim occur.” Other benefits include:

  • Minimal deductible vs. your homeowners’ insurance deductible
  • No risk of a premium increase with claims
  • No need to buy extra coverage or add a rider to your homeowners’ policy
  • Broader coverage for your belongings while in storage
  • Coverage for your items while in transit from the facility or your home
  • A customized policy built specifically for storage needs

For a full description of coverage and what to do if you have a loss, please see the Enrollment Disclosure Summary from Storage Protectors.

COOL-BINZ is here to provide premium protection and peace of mind for all of your portable storage needs. If you have any questions about our solutions or our bin rental process, contact your local COOL-BINZ team. We’re always happy to help!

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