Why Storage-Unit Insurance Matters

Self-storage demand is soaring as Canadians migrate, downsize and renovate. As most home insurance policies stop at your front door, many Canadians assume their home or tenant insurance automatically covers items kept in storage, but that’s not often the case. Here’s why a dedicated storage unit policy from HUB SmartCoverage can help close the protection gap.

Why are Canadians turning to self-storage in record numbers?

• Space squeeze in big cities. Condo and townhome builds now make up more than half of new housing starts in Toronto, Vancouver and Calgary, shrinking in-unit storage space.
• Housing affordability and downsizing. Rising prices push families to smaller footprints; seniors sell the family home but keep heirlooms.
• Immigration and mobility. Canada added 1.27 million new residents in 2023 alone, fuelling short-term moves and temporary storage needs.
• Remote work & renovations. Home offices and renovation projects often require furniture to be displaced for months at a time.
• Seasonal gear & hobbies. From skis to kayaks, Canadians store bulky items off-site to reclaim their closets.

Storage by the Numbers

• 22% of Canadian households have used or plan to use self-storage as of 2024.
• The commercial and personal storage market topped CAD $5.3 billion in 2024, growing at a 6.5% Compound Annual Growth Rate.
• Industry leader StorageVault Canada reported $304.7 million in 2024 revenue across 109,000 units: proof that demand isn’t slowing.
• Storage spending is now tracked in Statistics Canada’s 2023 Survey of Household Spending, underscoring its everyday importance.

The Insurance Gap Most People Miss

Your home or tenant policy typically limits off-premises contents and often excludes damage such as water intrusion in storage units. A fire, break-in or burst sprinkler could leave you paying out of pocket.

How HUB SmartCoverage Closes the Insurance Gap

Many Canadians assume their home or tenant insurance automatically covers items kept in storage, but that’s often not the case. Our Contents in Storage Program is designed to provide peace of mind by offering comprehensive protection for your belongings when they’re stored off-site in a professional facility.

This specialized insurance includes all-risks coverage, protecting your stored items against theft, fire, water damage, vandalism, and more. With flexible coverage terms ranging from one to 12 months, you can choose the timeframe that fits your needs and extend it if necessary. The program features a low $250 deductible, making it affordable if you ever need to make a claim.

Whether your items are stored in a traditional self-storage unit or a portable container, this policy applies to both. And if something does go wrong, our experienced claims advisors will help guide you through the process of valuation and replacement, so you can recover faster and with less stress.

Quick Tips Before You Lock the Door

Inventory & Photograph every item; store a copy in the cloud.

Choose Climate Control for electronics, instruments or antiques.

Elevate Boxes on pallets to guard against minor water seepage.

Use Disc Locks, they’re harder to cut.

Update Coverage if you add or remove big-ticket items.

Ready for Worry-Free Storage?

Whether you’re between homes or just reclaiming your garage, let HUB SmartCoverage keep your belongings protected until you need them again. Get a quote in minutes.