I have been researching the insurance costs at various storage facilities around the country and was frankly surprised at the range. The avergage seems to be 1%, but have seen some as low as 1/2% and as high as 3% of value, which is outrageous. Of course, many collectors use their homeowners coverage to extend to storage, which is usually quite affordable.
We are opening a 2nd facility in chicago, and want to be very competitive on rates. As a disclosure, I am also a partner in insureyourwine.com, which can cover collections in storage or at home.
Thanks,
Marc
ITB - I own a storage business and consult with a wine insurance company