Understanding Tenant Insurance & Storage Lockers Claims – What Renters Need to Know

Storage lockers are designed with the safety and protection of our personal belongings in mind. But they can still be susceptible to break-ins, fires, and other events which can leave our items lost or damaged beyond repair. It’s in situations like this where a tenant insurance policy can help to financially protect you. Read on to discover how often theft or damage claims are made relating to storage lockers, as well as what you can do to reduce the chances of being targeted by a break-in. 

Claims by loss type: what renters need coverage for in storage lockers

Our data* shows that theft is by far the most common cause of storage locker losses. Looking at storage unit-related claims made by APOLLO** customers across the past 5 years, theft accounted for nearly nine in every ten incidents: 

• Theft – 86% (of all storage locker claims)

• Fire/explosion – 4%

• Water damage – 2%

• Other claims – 8%

Despite thefts being most common, it’s actually losses associated with fires which cost renters the most. The average amount paid for fire-related claims is more than twice that of other storage unit claims: 

• Fire/explosion – $2,968 (on average per claim)

• Theft – $1,385

• Water damage – $286

This can be attributed to the quick and sudden impact a fire can have on a unit – where an incident can destroy most items in a storage locker in just a few minutes. 

*Internal APOLLO data based on tenant insurance claims made between Jan 1, 2021 and Jan 1, 2026. 

What makes storage lockers such a target for theft?

86% of our storage unit claims relate to theft. But why is this kind of incident more common for those using storage lockers? 

• E-bikes are becoming the most popular at-risk item. E-bikes are high-value items. What’s more, they’re becoming increasingly popular. Combine that with their size – often being large enough to need a storage unit – and it’s understandable why they’re often at risk of theft, even inside a storage locker. 

• Some buildings have weaker security measures. Security might not always be a priority in some apartment blocks, depending on the building. Even things like fobs, security cameras, and padlocked doors won’t necessarily stop a thief. They’re used to these kinds of barriers, and can have ways of getting around them. 

• Highly populated areas are common targets. Storage lockers are useful in living spaces where there’s a premium on space. That usually means more densely populated towns and cities. Because of that, these kinds of locations can also become targets for thieves, as they know that the chances of finding valuable items are higher. 

The reality of storage locker loss – true stories from renters

To understand the impact of storage locker loss, and how valuable having a tenant insurance policy really is, it’s helpful to hear some real-life examples. 

Here are scenarios which renters faced, and how much these tenants were able to get back thanks to their tenant insurance. 

Vancouver, BC,  April 2022

A downtown Vancouver renter stored personal belongings in their building's shared storage unit – a common arrangement in dense urban buildings where suite square footage is limited.

One spring morning, they discovered someone had broken in and stolen their personal property. The total incurred came to over $3,800. 

Edmonton, AB, August 2023

A renter in Edmonton stored their belongings in a facility where a fire broke out, damaging everything inside. The total damages incurred came to over $5,936. Some renters might think fire coverage only applies to damage in their unit. In reality, tenant insurance can cover you off-premises too under certain circumstances. 

Vancouver, BC,  August 2023

A couple living in Vancouver's Yaletown neighbourhood used their storage unit to hold the overflow of their lives – the things that don't fit in a modern condo but you can't bear to get rid of. On a summer night, someone broke in. Multiple items were stolen. 

The total incurred reached over $12,467. The claim was opened and settled within three months. 

Vancouver, BC, November 2024

A couple stored two e-bikes, three helmets, and two chargers in their building's storage unit. E-bikes aren't cheap. They're a transportation investment for urban renters who don't own a car.

Thieves broke in and took everything. The total loss incurred was $1,221.60. 

Common storage locker mistakes renters make

It’s unlikely to be your fault if a storage locker is compromised. Despite that, there are steps renters can take to reduce the chances of their items being stolen. Here are some things to keep in mind. 

• A landlord’s insurance policy won’t cover you. Renters might think that because a storage locker is owned by a landlord, the damage done to it (including theft and fire) covers your belongings as well. This is usually not the case. Their policies often protect their building and their financial liability, not your items. 

• You can’t always fully rely on your building’s storage systems. Your security priorities are not always the same as your apartment buildings’. Some renters might assume that communal spaces are safe areas, but our data showed that almost every theft claim related to shared storage lockers, bike storage rooms, or underground parking facilities.

• Bikes might need extra security. As we’ve seen, bicycles and e-bikes are amongst the most commonly stolen items. And, when they are, they tend to cost far more to replace than other belongings. If you have either kind of bike, take extra caution to ensure they’re safe. 

• Not having tenant insurance. Not having a tenant insurance policy could leave you financially exposed to losses from storage lockers – be that theft, fire, water, and everything in between. Having this kind of financial protection in place can make a difference in the event that your storage locker is targeted. 

*Apollo Insurance Agency Ltd. o/a APOLLO is a licensed insurance intermediary operating across Canada (excluding Quebec and the territories). Coverage is subject to policy terms, conditions, and exclusions.

The information provided on this page is intended for general educational purposes only and does not constitute insurance advice, a recommendation, or an offer to sell insurance. Every individual's insurance needs are unique and depend on personal circumstances. We encourage you to consult with an independent licensed insurance broker in your province who can assess your specific situation and recommend appropriate coverage.