How Much Does a Storage Unit Cost in Canada?

Whether you're downsizing, moving, or just need extra space, a storage unit can be a lifesaver. But how much should you expect to pay for one in Canada? Storage unit costs vary widely across the country, influenced by location, unit size, and amenities. In this guide, we’ll break down average costs, regional differences, and how tenant insurance can protect your stored belongings.

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Storage Unit Costs Across Canada

Storage unit prices fluctuate based on where you are in Canada. Smaller cities and towns typically have lower costs, ranging from $50 to $150 per month. Prices also increase for premium features like 24/7 access, climate control, and enhanced security.

However, prices can be higher in cities like Vancouver and Toronto, where demand and property values drive up costs.

Factors That Affect Storage Unit Pricing

Several factors influence the cost of a storage unit:

• Size: Units range from small lockers (5’x5’) to large spaces (10’x30’). Larger units naturally cost more.

• Location: Urban centres tend to have higher prices due to demand, while suburban and rural areas are more affordable.

• Amenities: Climate-controlled units, advanced security systems, and drive-up access can add to the monthly cost.

• Seasonality: Summer months often see higher demand (and prices) as people move or renovate.

Tips for Renting a Storage Unit

Here are some simple suggestions that can help you find the right storage unit at the right price for you: 

• Compare Prices: Shop around to find competitive rates in your area.

• Choose the Right Size: Avoid paying for more space than you need.

• Inspect the Facility: Ensure it’s clean, secure, and well-maintained.

• Read the Fine Print: Understand the facility’s liability limits and rental terms.

Tenant Insurance for Storage Units

While renting a storage unit provides extra space for your belongings, it’s important to think about protecting those items. Tenant insurance policies can extend coverage to items stored offsite, but it’s essential to understand the specifics of your policy.

At APOLLO, coverage for storage units isn’t offered as a standalone policy. Instead, it extends from an existing tenant insurance policy tied to your primary residence. Here’s how it works:

• Protection Against Loss: Tenant insurance protects your belongings stored offsite against risks like theft, fire, or water damage. However, the off-premises limit applies, which is clearly outlined in your policy documents.

• Comprehensive Coverage: Once you have a tenant insurance policy for your main residence, the coverage can extend to your storage unit, providing peace of mind for stored items like furniture, seasonal gear, or personal keepsakes.

• Policy Clarity: Be sure to review your policy’s declaration page to understand the specific coverage limits for items stored outside your home.

Does My Tenant Insurance Policy Cover Storage Units?

While APOLLO offers storage unit coverage, other insurance companies may not. It’s a good idea to:

• Review your policy’s terms.

• Check for coverage limits specific to offsite storage.

• Contact your insurance provider to confirm or add coverage if needed. If you have tenant insurance from APOLLO, simply log in to the Customer Portal to view your coverage limits and have a complete version of your policy emailed directly to your inbox. 

APOLLO is Canada’s leading provider of tenant insurance, tailored specifically for renters and customizable to fit your unique lifestyle. Get your free quote in less than a minute and we’ll send your policy documents right to your inbox.

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