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.
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.
