I recently rented a self storage unit and they required that I have insurance (theirs or my homeowners). I don’t see much difference between a safe deposit box

I recently rented a self storage unit and they required that I have insurance (theirs or my homeowners). I don’t see much difference between a safe deposit box is and a self storage unit. I’m surprised the banks don’t require this—it would be less hassle for them and the customer. That being said, it should be obvious to the customer that insurance is needed. Actually reading the lease agreement should provide enough information on determining your insurance requirements. If Wells Fargo only caps their liability at $500, then you should have a policy to cover the rest. The laughable $500 liability really goes to show you they don’t care and don’t stand behind their product.