Important Update: Transitioning to StoreProtect Enhanced Liability Protection from Masons Self Storage Insurance

We understand that many of our customers have relied on us for insurance protection. However, due to recent insurance regulation changes, we are no longer able to offer insurance directly as part of our storage services. While we can no longer sell insurance, we are committed to ensuring your stored items are protected. We’ve introduced StoreProtect, a non-insurance alternative to provide enhanced liability protection under our updated terms and conditions. 

This update offers a similar level of coverage and involves minor revisions to our customer agreement, including a new StoreProtect Addendum that will replace the current Summary of Cover you receive.

What is StoreProtect Enhanced Liability Protection?

Protection for Your Stored Goods on a New Replacement Basis

Much like our previous insurance arrangements, StoreProtect offers enhanced liability protection against certain causes of loss or damage while your goods are stored at our facility.

With StoreProtect, we accept liability for most items on a new replacement basis  — meaning if something happens to your belongings, we’ll consider the cost of replacing them as new. 

However, some restrictions and exclusions apply. Items like jewellery, watches, furs, fine art, alcohol (including beers and wines), and certain electrical goods may have limited cover. Unfortunately, StoreProtect doesn’t apply to motor vehicles stored outside a unit or any food or perishable goods.

To get cover from StoreProtect, you’ll need to tell us the Maximum Replacement Value of everything you’re storing — this should reflect the full new replacement cost of all your items combined. It’s important this value is accurate to ensure you’re fully protected.

StoreProtect vs. Your Own Insurance

While StoreProtect now serves as the replacement to storage facilities offering insurance directly, you still have the option to arrange your own insurance.

If you decide to arrange your own insurance, Masons Self Storage’s liability will be limited to cases of negligence. However, if you choose to opt into StoreProtect, the obligation is waived and we can accept a higher limit of liability, covering your goods up to the new replacement value. Full details of this enhanced protection are outlined in the StoreProtect Addendum we’ve provided.

How the Change Will Affect Your Monthly Payments

With the introduction of StoreProtect as an alternative to insurance, there’s an important change regarding the tax treatment of the charges.

Previously, the insurance charges were subject to Insurance Premium Tax (IPT) at 12%, but now StoreProtect will be subject to VAT at the prevailing rate of 20%.

Why Choose StoreProtect Enhanced Liability Protection?

✔️ Vermin damage? Covered. Unlike many insurance policies, StoreProtect doesn’t exclude it.

✔️ Protect your no claims bonus. Claims won’t affect your household or business insurance or lead to higher premiums.

✔️ Comprehensive cover. You’re protected up to your declared Maximum Replacement Value for the full length of your storage stay.

✔️ Simple and secure. Prefer your own insurance? That’s fine too—just make sure it’s valid and kept up to date.

Masons Self Storage: Your Peace of Mind is Our Priority

At Masons Self Storage, we prioritise the security of your belongings while they’re in our care. However, there is always a small risk of loss or damage, and we want you to feel fully confident and at ease when storing with us. For more information, take a look at our insurance FAQs.

Whether you choose StoreProtect or an independent insurance policy, your peace of mind is our top priority!