StoreProtect

We can provide protection for your stored goods on a new replacement basis.

StoreProtect is an extension to our standard contract that allows us to accept liability for loss or damage to your goods in certain circumstances.

Our liability under StoreProtect is accepted on a new replacement basis for most goods you store. However, there are restrictions for some items, such as jewellery, watches, furs, fine art, beers, wines, and electrical items. We cannot offer StoreProtect for motorcars stored outside a unit or food/perishable items.

To benefit from StoreProtect, you must declare an appropriate new replacement value for all goods stored (known as the Maximum Replacement Value). This figure must be adequate to include all goods at all times.

If you do not opt for StoreProtect, our standard terms limit our liability for your goods to a maximum of £100. You are also required to arrange insurance at your own expense for your stated Maximum Reinstatement Value for the duration of storage.

How do I calculate my Maximum Replacement Value?

We must understand the total value of all goods stored with us, even if you arrange insurance elsewhere. It is, therefore, a requirement for all customers to declare a suitable Maximum Replacement Value and to ensure it remains adequate for the storage period.

Your Maximum Replacement Value must represent the total current cost of replacing all stored property as new, except the following items where the replacement cost is calculated differently:

• household linen and clothing, motorcars, motorbikes, boats, caravans, motorhomes and any other motorised vehicle, where the Replacement Value allows for the age, quality, degree of use, existing damage and consequent market value;
• any goods which cannot be purchased new (such as antiques or works of art, for example), where the replacement value shall be the current market value; and
• documents, where the Replacement Value shall be calculated as the physical cost of replacing the documents and/or cost of reprinting, re-issue and/or reconstitution, but excluding the value of the information contained in the documents