Contents insurance whilst in storage?

Felix_the_Foccer

Actually, maybe the police could adopt a similar tactic and it could bring them in plenty of revenue ...

They could set themselves up as insurance brokers ... call it something like 'The Thin Blue Line Insurance' ... and when you had an accident or had to produce docs etc .. they could say 'oh no Sir, we don't accept it from that broker' .. but we'd be happy to sell you the exact same policy from the same insurance for 10 times the price ... ?

.. sound familiar?

Felix_the_Foccer

Got the bit between my teeth now ...

Just left a message with BBC's Watchdog programme and am also waiting for the Safestore Regional Manager 'Martin Ironmonger' to return my call ..

pigeonpie

let us know how you get on. I may have to use the same crowd early next year. Charlton. As I am currently insured with R&S Alliance, it sounds like it could be yet another argument in the offing.
How big are the storage rooms btw?

shroffn

Great shout Felix in telling Watchdog. I hope they choose to take this item up. If they contact you back, and if it would help, you could get other self storage users on this site to speak to them. I would be happy to volunteer.

0dd8a11

I have shopped around and found Big Yellow, I read every single word of their websites sales pitch, and "Key Requirements" and FAQs. No where does it mention that you have to take insurance through them, and them alone. They go as far to say in the FAQs

"What is included in the price - are there any hidden extras?" The answer is it includes everything but a padlock which they can supply at a cost or supply your own.

They do however say "Don't forget, your goods need to be insured to the full replacement value whilst in storage. We can arrange this in store."

It is not until after you have put a deposit on a room do they reveal the true value of the storage, changing the pricing from one of the cheapest to one of the dearest I researched.

As soon as I read the new conditions I telephoned to cancel and was told I couldn't, I requested that an area manager phone me back and was promised he would - they didn't.

It is a rip off and a headache I could do without during my move - although I am in daily talks with my solicitor at the moment so maybe something I will bring up with him tomorrow to look into.

Do NOT use BIG YELLOW - when shopping around ask for the price including insurance and as I have found if it is a condition of storage that they supply the insurance it will be more expensive the other top brand companies.

toshkininny

hello, anyone know whether this insurance malarky is sorted out now?

Thanks.

shroffn

No. Its a closed shop. It doesn't look like either of the OFT or the FSA want to do anything about this as they have much bigger issues to worry about. The industry association (SSA UK) is a self regulating body and no surprise, the board is made up of companies that operate in this space. They are looking after their own interests. This is most telling in the refusal of almost all operators who are members of SSA UK to accept anybody else's insurance policy (even if issued by the same provider as their own) and yet insisting you have insurance.

I used Safestore in Whitchapel for about 14 months. Had a long and fruitless 'discusion' with the manager about this. They did accept an Insurastore policy for a limited time but then told me that they would not accept it when the cover came up for renewal. Reason being that the cover was inferior to their own (despite being issued by the same provider RSA). Trust me, I had read both policy terms several times very carefully and my missus works in the insurance industry. Their was very little betwen them.

My conclusion is that national self storage chains operate as a cartel with very poor price transparency and opaque pricing policy. They are best avoided if you can do so. In future, I will only ever use them if I have absolutely no other choice.

Pennydrop_3

This is the second time I have done this not sure if I did something wrong!

I have had the same experience. I got a really good quote from Big Yellow. I got to the facility and they dropped the insurance bomb shell which almost doubled the original quote! I told them I would sort my own out and the manager said they do not accept any other insurance other than there own. I told him to shove it and asked why I had not been informed of this when they quoted for the storage. I got no sensible reply!!

I went home and phoned around and Safestore take the same policy however all the other storage companies I called said they did accept other insurance. Access Self Storage matched the price that Big Yellow had quoted and I got the insurance through a company called insurastore (www.insurastore.com) saved a fortune.

Can companies dictate to you that you must take there insurance?

Watch out about the hidden insurance I was shocked at Big Yellow...

BlameTheGame

You dont need to take their insurance.

If your home contents cover doesnt cover you then just call them up and let them know your goods will be in storage. They may charge you a small fee (usually between 15-40 quid per year depending on the cover amount).

Also don't fall for buying their 12 quid padlock :rotfl:

Always haggle, with the downturn in the housing market they are all struggling to fill there rooms up.

JVG_2

I went home and phoned around and Safestore take the same policy however all the other storage companies I called said they did accept other insurance. Access Self Storage matched the price that Big Yellow had quoted and I got the insurance through a company called insurastore (www.insurastore.com) saved a fortune.

Thanks for the tip re: insurastore. Just saved myself well over £100 by taking insurance out with them instead of the storage company.:T