SBOA Insurance helps self-storage owners, operators, developers, and tenants secure insurance coverage with confidence. Browse answers to common questions about tenant insurance, claims, billing, commercial property coverage, and more.
Tenant Insurance FAQs
What is the meaning of tenant insurance?
Tenant insurance is a type of coverage that helps protect a tenant’s personal belongings stored inside a self-storage unit against covered losses such as fire, theft, vandalism, and certain weather-related events.
What is the meaning of renters’ insurance?
Renters insurance is a policy that helps protect a renter’s personal property against covered losses. Some homeowners’ or renters’ insurance policies may provide limited protection for belongings stored in a self-storage facility.
Why is there a need for tenant insurance?
You rent a storage unit because your belongings matter. While some homeowners’ or renters’ insurance policies may provide limited coverage for items stored off-site, coverage limits and deductibles can vary. Tenant insurance helps protect your stored property from unexpected events and may provide coverage tailored to self-storage needs. Call 1-800-792-0345 to learn more about protecting your belongings.
How can I obtain coverage?
You can enroll in coverage when renting your storage unit, either online or at the facility office after completing your lease agreement and required paperwork. Premiums are typically included with your monthly rental payment. Coverage may also be available through an independent insurance agent.
What if I want more coverage than the facility offers?
Ask your facility if higher coverage limits are available. If they are not, you could obtain coverage through an independent insurance agent.
Can just any storage facility make SBOA Tenant Insurance available to its tenants?
Only facilities that meet our underwriting standards and approval can qualify to offer an SBOATI Tenant Insurance policy.
When does my coverage start?
This is a pay-with-rent program and is renewed each month when your monthly rent and premium are paid. If and when you terminate your lease and move out of your unit, the coverage will end at that time. Coverage also stops when you cease paying your insurance premium.
How do I file a claim?
Your claim will be handled quickly by Alchemy Insurance Solutions LLC. If you have a claim:
Notify the manager at your self-storage facility.
Report any burglary to the police and save a copy of the report.
Take pictures, create a file for yourself, and provide a copy to the facility manager.
Notify SBOA Tenant Insurance about your loss as soon as possible.
You can file a claim in one of three ways:
Online: through our File a Claim form
Call: 800-792-0345
Email: SBOATI.claims@alchemyins.com
Is flooding covered through SBOATI?
Similar to homeowners’ and renters’ insurance policies, damages from rising waters or floods are not covered. Specific flood insurance can be obtained with a separate policy through your homeowners’ insurance company.
What is the difference between burglary and theft?
Burglary means the act of stealing property by forcible entry into the storage space described in the rental agreement. However, this coverage applies only when the storage unit is securely locked at the time of the forcible entry. Visible signs of forcible entry must be evident. The mere absence of a lock will not constitute forcible entry.
Operator FAQs
Do I have to require proof of insurance as a condition of rental at my facility?
In limited lines licensing states, you are not obligated to operate under the lease compliance model to participate in the program. An SBOATI salesperson can help you determine whether the voluntary or lease compliance model of insurance is best for you.
How does invoicing work?
You will be invoiced at the beginning of the month for the previous month’s insurance activity. You will receive the invoice via email and can submit your payment via our free ACH option or by check. If you have any questions throughout the process, you are only a phone call away from a friendly, experienced, licensed insurance professional.
Do I need to submit my insurance reports manually?
In most cases, no. We work with the industry’s leading Facility Management Software (FMS) to make a fully integrated experience for operators.
What changes need to be made to my Facility Management Software system before I can begin the SBOATI program?
As soon as the go-live requirements are met, we will contact you to set up your FMS. This will involve updating the insurance rates and forms in your system. The exact details of this procedure will vary depending on the type of POS you use.
What type of training will be provided to my employees?
We require that all facility personnel who will interact with tenants regarding insurance be trained. When you provide us with the necessary contact information, we will email each person an invitation to our online training modules, which are short and can be paused and resumed to accommodate your employees’ day. After taking this training, your employees will be able to confidently communicate with your tenants regarding the insurance program.
How can I re-order marketing materials?
You don’t have to worry about placing an order for your initial shipment of marketing materials. We will send them to you automatically. When you run out of a product, you may place your order online, email your request to support, or call 1-800-792-0345 and select marketing.
Claims FAQs
How do I file a claim?
Claims can be initiated online, through the client portal, or by contacting SBOA Insurance support directly for assistance.
What information is needed to submit a claim?
Claim submissions may require:
Policy or account information
Details about the loss or incident
Supporting documentation or photos
Contact information
What is the claims process for store managers after a tenant reports a loss?
The tenant will report the claim to the facility manager.*
The facility manager will inspect the unit with the tenant as soon as the claim is reported. The facility manager will complete an Internal Incident Report and, if possible, take pictures. Please be detailed and specific.
Once the tenant reports the claim, the facility manager will receive an email requesting the completed Internal Incident Report, a copy of the lease, and, if applicable, the tenant’s application.
Claim timelines vary depending on claim type, documentation, and policy review requirements. SBOA Insurance provides responsive claims support throughout the process.
Can operators track claim status online?
Yes. Client portal functionality may allow operators to review claim activity, documentation, and claim-related updates.
Who handles commercial property or Builder’s Risk claims?
Commercial property and Builder’s Risk claims are typically managed directly with SBOA Insurance representatives or designated account managers due to the specialized nature of these claims.
Is claims support available 24/7?
Certain tenant insurance claims support services may be available 24/7, depending on the program structure and claim type.
Program and Billing FAQs
How does billing work for tenant insurance programs?
Billing structures vary based on program participation and facility setup. SBOA Insurance can explain enrollment, payment structures, and reporting during onboarding.
Can facilities customize coverage options?
Program flexibility may vary depending on facility operations, state availability, and selected insurance solutions.
Are there long-term contracts required?
Program terms depend on the selected insurance solution and facility participation structure. SBOA Insurance can provide details during onboarding.
Ready to Add Consistent Coverage & Revenue to Your Facility?
Our team will help you select the right program for your facility’s needs. Get in touch today and see how SBOA Insurance can protect your self-storage business.
