Self-storage facility coverage and tips

March 6, 2021

How to safely store—and best insure—your off-premise stuff

Self-storage units can be a good way keep clutter out of your home. And having the right insurance coverage is the best way to financially protect your off-premise belongings.

Properly choose your self-storage facility

The storage facility you choose can impact the safety of your belongings. To choose wisely:

Look for a secure facility. At a minimum, make sure there’s fencing that secures the entire property and controlled access. Ideally, the storage building should have onsite security features such as 24-hour video surveillance cameras and coded security pads. Also, find out about the facility’s procedures in cases such as a fire or flood.
Look for a unit with climate control. Very high or very low temperatures and dampness can quickly cause damage to appliances and furniture. Make sure that rising ground water from snow or rain is unable to penetrate the storage.
Consider a storage company that offers insurance. If your renters or homeowners insurance does not provide off-premises coverage, you may want to opt for one of the storage company’s coverage options. Keep in mind that any facility should also have its own insurance to cover damages to the property, or injuries that occur on the premises.
Check that the facility is clean and well maintained. If a storage facility is not routinely and thoroughly cleaned, there is a good possibility no one is monitoring for bugs and rodent infestations. Verify that the facility has a permanent, reliable pest extermination contract in place before you trust them with your belongings.

Before you store your stuff

Take steps to adequately insure your belongings before you put them in storage.

Ask your insurance professional about off-premises coverage. Some standard homeowners and renters insurance policies include coverage for personal possessions kept off-premises, including those in a storage facility. Off-premises coverage includes theft and damage from fires, tornadoes and other perils listed in the policy. However, it does not cover for damage caused by flooding, earthquakes, mold and mildew, vermin or poor maintenance. And check the coverage limits, as these vary by company.
Find out what type of financial protection is provided by the storage facility. Most facilities provide reimbursement based on the square footage of the unit. Check both the coverage limits and whether it is provided on an actual cash value or replacement cost basis. Most storage facilities will also offer a variety of supplemental insurance packages; ask your insurance professional if it makes sense to buy this additional coverage.
Consider special insurance or storage for expensive items. If you intend to store valuable property—such as art, antiques, jewelry or furs—there may be dollar restrictions under your standard homeowners or renters insurance policy for theft. Ask your insurance professional about adding a floater to your policy in order to fully cover these items. There are also specialized storage facilities available for these types of items, as they often need to be kept at specific temperature and humidity levels. Small items such as jewelry will cost less to insure if they are kept in a bank safe-deposit box. Keep in mind contents in a safe-deposit box are not insured by the bank.
Create an inventory of items to be kept off-premises in storage. Add the items you’re moving to the storage unit to your home inventory so that you can keep track of your belongings and make sure you have the right amount of insurance to protect them.

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Ukraine takes the Eurovision Song Contest spotlight as the weirdest show on earth returns

It tells you plenty about the Eurovision Song Contest that Norway’s participants — two grown men in wolf costumes who sing about bananas and the imminent consumption of their grandparents — are flying relatively under the radar this year. The continent’s garish and much-loved singing competition returns to Turin, Italy on Saturday, but only one group is commanding the spotlight in the build-up: Ukraine’s Kalush Orchestra. The folk-rap group are runaway favorites in the betting markets and their presence at the tournament has captured the imagination of fans from every competing country. “As we speak, our country and our culture are under threat. But we want to show that we are alive, Ukrainian culture is alive, it is unique, diverse, and beautiful,” Oleg Psyuk, the band’s frontman, told CNN. “This is our way to be useful to our country,” he said. At first sight, the six-piece group seems to slot in comfortably with dozens of their more eccentric Eurovision brethren. Most members wear elaborate national dress, with rapper Psyuk also sporting a pink bucket hat. One member is so submerged by patterned embroidery that only his mouth is visible, while the group’s double bassist comes dressed as a ball of yarn. But getting Kalush Orchestra to the Eurovision stage took some doing, and their journey is deeply interwoven with the war at home. The band initially finished second in Ukraine’s national selection competition, but they were elevated after it emerged the winner had previously traveled to Russian-annexed Crimea. They were unveiled as the country’s entry on February 22, two days before Russian troops invaded Ukraine. “All members of the group are somehow involved in the country’s defense,” Psyuk told CNN via email. A member of the team’s media team joined the territorial defense and is fighting on the front line, leaving the group shorthanded in Turin. Psyuk volunteers to find internally displaced Ukrainians shelter and organize the transportation of food and medicines. The backdrop of conflict complicated preparations for Eurovision. The group was forced to rehearse virtually until they were finally able to meet in Lviv after weeks of the war. And their song has taken on new meaning. “Stefania,” sung in Ukrainian, is a tribute to Psyuk’s mother, who still lives in the western city of Kalush from which the band takes its name. “On some days there are rockets flying over people’s houses and it is like a lottery – no one knows where it will hit,” Psyuk told CNN. Organizers banned Russia from the contest in February, 24 hours after an initial, widely criticized decision to allow it to take part. The European Broadcasting Union concluded that the country’s presence “would bring the competition into disrepute.” Belarus, which aided Moscow’s invasion, had already been suspended due to the suppression of media freedom in the country. Kalush, meanwhile, sailed through Tuesday’s semifinal and elicited wild cheers from the crowd when they came on stage. Eurovision is notoriously difficult to predict, given its point system relies both on jury verdicts and public voting from dozens of countries, but Kalush seems a safe bet to take this year’s crown. A Ukrainian victory would mean the country had the right to host next year’s contest — but it is far from certain that such an event would be possible in Ukraine next May. Psyuk, though, is optimistic. “We believe in our song … it has become a song about the motherland,” he said. “If it turns out that we will win, Eurovision 2023 will be held in Ukraine. In a new, integral Ukraine … a rebuilt, prosperous, happy country.” Read more
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How should I choose a life insurance agent?

When you’re considering buying life insurance, it’s important to choose an agent or broker who can help you. Buying life insurance can be complicated or confusing. The key to buying the right amount and the right type of policy at a good rate is a good agent or broker. You should choose one who: Understands your financial situation, including your attitudes about risk, your income and estate tax “brackets,” and your other financial assets and obligations, as well as your personal situation (that is, your age, marital status, dependents, etc.) Explains, in terms you can easily understand, issues, options and planned use of life insurance in your financial program Provides you with a personalized written document that: -records the facts of your current financial and personal situation and -describes the features of the life insurance and how it fits into your situation Doesn’t pressure you into a decision, but works with you until you’re ready and convinced that you are doing what is best for you Is prepared to review with you periodically—perhaps every three years or so—whether the product continues to be suitable for your needs and circumstances Is licensed by your state insurance department. If you don’t have an agent or broker who fits this description, ask your lawyer, accountant, friends, relatives and business associates for the names of insurance agents or brokers with an excellent reputation. You can also connect with the nearly 70,000 members of the National Association of Insurance and Financial Advisors (NAIFA), who subscribe to the organization’s Code of Ethics. An agent or broker who has one or more professional financial services designations has demonstrated a commitment to specialized education in the field. Designations you might see include the following: Insurance Agent Designations An agent or broker who has one or more professional financial services designations has demonstrated a commitment to specialized education in the field. Designation Full name of designation Issuing Institution Institution’s Web site CLU ChFC Chartered Life Underwriter Chartered Financial Consultant The American College theamericancollege.edu CFP Certified Financial Planner Certified Financial Planner Board of Standards, Inc. cfp.net RR RP Registered Representative or Registered Principal National Association of Securities Dealers, Inc nasd.com The Compensation Issue Like everyone else, agents and brokers get paid for their services, which are enriched by their education and experience. Most agents and brokers are paid by commission, but some work on a fee basis. Typically, the largest part of the compensation is paid at the time you purchase the annuity, since most of the agent’s or broker’s work occurs at that time or just before it. As with any professional service, you should understand how your agent or broker will be compensated and how that might affect the purchase recommendation. The bottom line? The best way to protect yourself is to make sure you understand what you’re buying and the nature of the product’s limitations, penalties or fees if you want to drop the policy.
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New Years’ Eve fireworks Australia 2023: Sydney display breathtaking as city capitals light up

Australia has farewelled 2022, a year many would rather forget for one with promise and hope as the Covid pandemic shadow is put in the country’s rear vision mirror. Millions of Aussies flocked to harbors, foreshores, riverbanks, and beaches to savor the multi-million-dollar fireworks displays. Sydney’s world-famous harbor and bridge were lit up in a spectacular display, while the skies over Melbourne, Brisbane, and Adelaide featured spellbinding firework shows. Revelers were out in force to make up for time lost in the last three years, as celebrations were dampened by the black summer bushfires in 2020 and the Covid pandemic the following two years. Party-goers made their way into the nation’s CBDs in droves to ring in 2023 in style – with local and state government organizers putting on celebrations bigger and better than ever before. Crowds in the nation’s focal point Sydney, hit around the million mark as thousands queued up well in advance earlier in the day to vie for a spot on the steps of the iconic Opera House. The Harbour City saw an Indigenous smoking ceremony at 7.30 pm kick things off before the family-friendly fireworks display dazzled the nation. In New South Wales’ capital, 13,000 fireworks totaling $ 7 million lit up the sky from the Opera House, Harbour Bridge, and rooftops around the city. In a nod to the upcoming World Pride festival taking place in Sydney in February, the progress pride flag colors were projected onto the Sydney Harbour Bridge at 11 pm. While in Melbourne’s CBD, crowds built up quickly with families and groups of friends flocking to parks for early fireworks, before an estimated 450,000 people continued on to see in the new year. In what felt like Melbourne’s out of Covid party, revelers took advantage of life without masks with fireworks set off from a record 30 rooftops in celebrations worth around $4 million. Perth put on a show from start to finish with its first-ever family-friendly show kicking off at 9 pm before their traditional Swan River spectacular at midnight. Brisbane, Adelaide, and Hobart celebrated with two fireworks displays, however, severe weather forced Darwin’s shows to be canceled. On the Gold Coast, around 30 tonnes of fireworks brought vivid colors and patterns to the skylines at Coomera, Broadwater Parklands, Surfers Paradise, Broadbeach, and Coolangatta. Festivities in Western Australia’s central Kimberley region and Menindee in far west NSW had they’re dampened as they were faced with rising floodwaters. Read more at DailyMail.co.uk
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How Amazon, eBay Can Post Huge Profits In The Cannabis Supplement Market

Amazon.com Inc (AMZN) and eBay Inc (EBAY), two of the world’s premier e-commerce retailers, look particularly well-positioned to profit from the expanding market for CBD, a non-intoxicating substance in marijuana plants that’s seeing rapid sales growth. In a detailed, 106-page study, Cowen says that products containing CBD “are now available through increasingly diverse retail channels, including Amazon, Sephora and Neiman Marcus.” They estimate retail sales of CBD products in 2018 were between $600 million and $2 billion and will grow to $16 billion by 2025, based on what they say are conservative assumptions: a 40% increase in consumer use, plus spending of less than $2 per day per consumer. Growing Opportunity For CBD Supplements Almost 7% of 2,500 U.S adults surveyed in Jan. 2019 use CBD supplements Retail sales of CBD likely to exceed $16 billion in the U.S. by 2025 Source: Cowen Inc., “Ahead of the Curve Series: Cowen’s Collective View of CBD” The Role of E-Commerce The report projects that e-commerce will be a key distribution channel for CBD products. These fall within larger categories called personal care & beauty products and vitamins & food supplements, all of which Cowen expects to enjoy accelerating online sales. What’s spurring this growth is the rising number of jurisdictions that have repealed, or are not enforcing, legal prohibitions on marijuana. That, in turn, is facilitating the growth of nutritional supplements containing CBD. “This is a really powerful compound,” as Mikhail Kogan, medical director of the George Washington University Center for Integrative Medicine, told The Washington Post. “I’ve seen it work for a lot of my patients,” he added, noting that he prescribes it for epilepsy, Post Traumatic Stress Syndrome (PTSD), anxiety, autoimmune disorders, autism, and insomnia. “CBD has been a game-changer for medical marijuana,” according to Martin Lee, director of Project CBD, a California-based nonprofit that advocates for its use. “Its safety and lack of psychoactivity undermine any argument that it should be illegal,” he told the Post. Significance For Investors What is CBD? The two principal chemical compounds in marijuana, or cannabis, plants are tetrahydrocannabinol (THC) and cannabidiol (CBD). THC is an intoxicant that decades of research indicate also may be effective against pain, nausea, appetite loss, and other ailments. Once thought to have no impact on the human body, CBD has been the subject of increasing research in the past 10 years. Tests indicate that it may be useful in treating epilepsy, anxiety, schizophrenia, heart disease, and cancer, per the Post. Cowen cautions that, while the effects of THC on the body are well-established, much is still unknown about CBD, and no specific receptor for it has been identified. CDB is part of a major e-commerce category called consumables that has major growth potential. “Consumables continues to be a highly under-penetrated eCommerce vertical in the midst of a progressive shift online,” Cowen says. They estimate that online sales of consumables in the U.S. during 2018 were $51 billion, or 11% of total spending on this category. By 2023, led by Amazon, they expect these figures easily to exceed $111 billion and 19%, respectively. A Huge Market For Amazon In their survey of Amazon customers, Cowen found that in each month during the fourth quarter of 2018, 19% of Prime purchasers bought at least one personal care product and 15% bought at least a vitamin or supplement product. In more than 30 other product categories, an average of only 12% of Prime purchasers bought anything. There was a similar trend among non-Prime purchasers, the respective figures being 13%, 10% and 8%. Amazon’s growing physical footprint. Amazon’s health-oriented Whole Foods Markets, the grocery chain with about 470 locations, is another potential sales channel for CBD products, and the company’s expanding physical footprint also includes its Go Stores and bookstores. Whole Foods offers 2-hour delivery of many items in 63 cities which account for 50% of the U.S. population and 66% of U.S. GDP and curbside pickup in more than 20 markets. When CBD products may appear in these physical channels is unclear, but Cowen calls them “attractive avenues for reaching new customers.” Amazon may offer CBD under its own brand labels. The report notes that Amazon, including Whole Foods, has a large and growing private label business. If CBD products gain popularity and acceptance, Amazon may offer its own alternatives. While this initially may threaten established CBD companies, “The widespread availability and acceptance by a retailer such as Amazon could also help to drive mainstream adoption of CBD products and thus provide a benefit for the industry as a whole.” eBay’s Window of Opportunity Cowen believes that CBD companies may see eBay, with 179 million active buyers globally, as “an avenue to reach a wide array of consumers.” eBay has lost e-commerce market share for several years, “and developing a leading marketplace in a new product vertical such as CBD products could be an incentive to become an early adopter.” While eBay has been less successful than Amazon in generating sales from the personal care & beauty and vitamins & supplements categories, the report sees “an opportunity for these verticals to grow meaningfully.” Looking Ahead Cowen observes that, historically, broadline retailers Walmart inc. (WMT), Target Corp. (TGT) and Costco Wholesale Corp. (COST) have shied away from entering controversial categories in their early innings, preferring to be last movers and avoid controversies. But the extraordinary profit potential in CBD is likely to spur Amazon and eBay to grab early leads in the world of CBD retailing. Source: investopedia.com
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11 incredible places you should travel in 2021

We’re pinning our hopes on this year bringing back travel – and if it does, these are the destinations you should hit up first. The year 2020 was a bad one for lots of reasons, but the near-total shutdown of international travel was certainly one of them. Many countries closed their borders. Constantly changing travel restrictions made planning near-impossible. We weren’t sure how safe it was to fly or stay in a hotel. And in any case, local outbreaks and health measures made travel in many parts of the world feel either risky or… well, just not that fun. We’re hoping that’s all going to change this year. The global vaccine rollout promises to reopen borders, relax rules and soothe at least some of our anxieties. Frankly, you’re probably desperate to get out there again. (We definitely are.) So, assuming things do return to something like normal, there’s just one question: where to travel first? Here are our suggestions: a list of incredible destinations that deserve to feature heavily in your 2021 plans. Maybe you’re looking for a bucket-list trip to really make up for not being able to travel in 2020, or thinking about dipping a toe back into city breaks. Perhaps you’re desperate for adventure and new scenery after being cooped up at home, or just want to get as far away from humans as possible. Whatever you’re after in a great 2021 travel destination, we’ve got you. Just make sure to keep an eye on our regularly updated list of destinations accepting travelers right now, and may the road rise to meet you. 11. Tallinn Relatively speaking, Estonia has had rather few cases of coronavirus, and that’s in no small part thanks to its small but fun-loving capital, Tallinn. In spring 2020, a company called Garage48 set up an initiative called ‘Hack the Crisis’ that brought together more than 800 tech workers to help combat the virus. The government paid serious attention, putting Tallinn’s thriving tech scene on the map. The vibe throughout the city center is pretty Scandinavian – cutting-edge cuisine, a thriving design scene, and craft beer bars on every corner – but with a lot more Soviet architecture and prices that are much more wallet-friendly than you’d ever find in Copenhagen or Helsinki. Hang out in the fast-regenerating harbourside area of Kalamaja, which was named one of the world’s coolest neighborhoods in October 2020. 10. Norway If 2020 was the Year of the Cabin – a time when every city-dweller wanted a country bolthole – then Norway is way ahead of the curve. The Scandinavian country has a huge and longstanding cabin culture, with about half the population having access to a hytte of some kind, and there is plenty for visitors to rent too, with intensely beautiful natural settings a given. If you’re not up for the traditional back-to-basics experience (outdoor toilets, no power, and water from a well) then check out some of the smart new openings dotting the country. From mountaintop ‘birdboxes’ to treehouses peering over fjörds, they’re adding a dose of luxury to the age-old feeling of hyttekos: that sense of wellbeing you only get when you’re tucked up in a cabin, miles away from… well, pretty much anything. 9. Japan With the postponed Tokyo Olympics now set for summer 2021, everyone’s going to be watching Japan this year. But there are loads more to the country than the bright lights of the world’s biggest metropolis. Rural tourism has been on the increase for years, and this year the government’s ‘Go to Travel’ scheme has (albeit not without controversy) aimed to reboot the tourist sector across all 47 prefectures. Barring new spikes, the country is likely to reopen to visitors in time for cherry blossom season. And when it does, your trip should definitely include one of Japan’s national parks – maybe the islands of Setonaikai, or Nikko with its Unesco-listed temples and shrines – where authorities have been setting up idyllic, high-tech ‘workation’ spots for anyone who wants to bring a laptop to paradise. 8. Sète Trips to major cities aren’t likely to bounce back totally in 2021, but we’ve got a feeling that mini-city breaks are going to be huge – all the fun of city life with smaller crowds. And if that’s your vibe, we’d recommend Sète: a small city in the Languedoc region of France, roughly halfway between Marseille and Barcelona. The water-jousting contests, street-side poetry readings, and a thriving population of Occitan speakers make this place feel worlds (and centuries) removed from the rest of the country. Festivals like Fiest’à Sète and Gilles Peterson’s Worldwide usually draw thousands here in summer. But the best reason to hit up this unassuming city in any year is the monstrously good seafood – especially the tielle sétoise, a spicy tomato, and octopus pie. 7. Isles of Scilly Our appetite for rural, lesser-populated spots is set to sail right on into 2021 – and few places in the UK tick those boxes better than the Isles of Scilly. An unspoilt archipelago just off the Cornish coast, the Scillies have a subtropical vibe, down to the islands’ white sandy beaches and bobbing palms. The tiny islands (five lived-on and countless uninhabited) are all connected by local boat routes, though a few times a year you can walk between Tresco and Bryer, when a festival takes place on the briefly exposed seabed at low tide. Wild swimming, wildlife-spotting hikes and dark skies are big draws – the Scillies’ first Dark Skies Week will now take place in 2021. They’ve also never been so accessible thanks to a new helicopter route from Penzance on the mainland, which launched this year when no one was really able to take advantage of it. 6. Tulsa The coolest park in the United States isn’t in New York or San Francisco – it’s tucked away in Tulsa, Oklahoma. Since 2018, the 100-acre Gathering Place has been wowing visitors with a three-acre lake, multiple playgrounds that >>Read more
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