SBOA Tenant Insurance
SBOA Tenant Insurance is a specialty insurance program, administered by Alchemy Insurance Solutions LLC, that offers $0-deductible tenant insurance to self-storage operators and their tenants across all 50 states, DC, and Puerto Rico via integrated facility management software.
- Company typePrivate
- Founded2011
- HeadquartersLancaster, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What SBOA Tenant Insurance does
SBOA Tenant Insurance (SBOATI) is a specialty insurance program that provides coverage to tenants of self-storage facilities in the United States. It was founded in 2011 by self-storage owners for self-storage owners and is administered by Alchemy Insurance Solutions LLC, a Pennsylvania limited liability company headquartered in Lancaster, PA that serves as the exclusive managing general agent (MGA) and Third Party Administrator. The program is licensed across all 50 states plus the District of Columbia and Puerto Rico (with some coverages available through surplus lines insurers) and is backed by an A-rated carrier.
The core product is a monthly tenant insurance policy that pays out alongside the storage unit rent and automatically renews each month the tenant pays, featuring a $0 deductible on all claims (a first in the self-storage tenant insurance market). The platform integrates directly with the dominant self-storage facility management systems — SiteLink, StorEdge, Yardi/Centershift, eMove/WebSelfStorage, SSM, and Cubby — to automate premium collection at the point of sale and eliminate manual monthly reporting by facility staff. SBOATI also provides online training modules for operators, marketing materials, regulatory compliance support, and 24/7 claims reporting via toll-free hotline and online filing.
SBOATI monetizes through recurring commission-based revenue on monthly tenant premiums and administrative fees paid to participating operators, with larger portfolio operators eligible to share underwriting profit through a captive arrangement. In 2025 the company expanded beyond tenant insurance with the launch of Commercial Property & Casualty Insurance for self-storage operators. SBOATI distributes primarily through self-storage facility operators (channel partners) with a direct-to-tenant enrollment at lease signing, supplemented by independent insurance agents, phone sales, and field sales outreach — and has been recognized as Best Tenant Insurance in the Inside Self Storage (ISS) Readers Poll every year since 2012.
SBOA Tenant Insurance firmographics
Firmographics- Name
- SBOA Tenant Insurance
- Legal name
- Alchemy Insurance Solutions LLC
- Website
- https://sboati.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- SBOA Tenant Insurance is a specialty insurance program, administered by Alchemy Insurance Solutions LLC, that offers $0-deductible tenant insurance to self-storage operators and their tenants across all 50 states, DC, and Puerto Rico via integrated facility management software.
- Ownership category
- akta.pro rank
SBOA Tenant Insurance industry classification
Industry- Product category
- Self-Storage Tenant Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126), Insurance Agencies and Brokerages (524210), Other Insurance Related Activities (52429)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Renters Insurance (FSAJACAB)
- akta.pro secondary industries
- Captive Insurance Advisory & Management (FSAEADAF), Real Estate / Lessors Risk BOP (FSAJAFAI)
Keywords
Where SBOA Tenant Insurance is headquartered
LocationHeadquarters
- HQ city
- Lancaster
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
SBOA Tenant Insurance business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Others
Revenue model
- Tenant Insurance Premiums: Monthly insurance premiums collected from tenants alongside their rent payments. Coverage is renewed monthly when rent and premium are paid together. Tenants enjoy low monthly costs with zero deductible.
- Operator Administrative Fees: Participating operators receive equal administrative fees. Large portfolio operators have opportunities to earn underwriting profits through a captive arrangement.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Pay-with-rent monthly insurance |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
SBOA Tenant Insurance product offering
Product offeringCore offering
SBOA Tenant Insurance (SBOATI) provides tenant insurance products specifically designed for the self-storage industry, offering coverage to individuals and businesses renting storage units. The program is administered by Alchemy Insurance Solutions LLC as managing general agent, backed by an A-rated carrier, and integrates directly with facility management and point-of-sale systems to automate premium collection along with monthly rent payments. Coverage includes $0 deductible on all claims, multiple coverage limits and endorsements, and 24/7 claims reporting via toll-free hotline, online, or email.
Product overview
SBOA Tenant Insurance offers a unified insurance platform centered on its core SBOATI tenant insurance product, recently expanded to include Commercial Property & Casualty Insurance. The main SBOATI program provides comprehensive coverage for self-storage tenants with zero deductibles, integrating directly with facility management systems to automate tenant transaction collection. The program is administered by Alchemy Insurance Solutions LLC and backed by an A-rated carrier.
Differentiator
Problem solved
Functional benefit
Products and services
- SBOA Tenant Insurance (SBOATI) A tenant insurance product for self-storage facilities, providing coverage to individuals and businesses renting storage units against theft, fire, water damage, and other covered losses. Features $0 deductible on all claims, multiple coverage limits and endorsements, monthly premium paid with rent, and 24/7 claims reporting by phone, online, or email.
- Commercial Property & Casualty Insurance Commercial property and casualty insurance product introduced in 2025 as an expansion of insurance services for self-storage operators, providing coverage for facility-level commercial risks.
Companies that use SBOA Tenant Insurance
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles2 records
SBOA Tenant Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature3 records
SBOA Tenant Insurance partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and major.
- Alchemy Insurance Solutions LLCcoreAlchemy Insurance Solutions LLC, a Pennsylvania limited liability company, administers the SBOA Tenant Insurance program. They serve as the exclusive managing general agent (MGA) since the program's inception in 2011. The company handles claims processing as a Third Party Administrator (TPA) and is licensed in all US jurisdictions. They transact business as CIP Insurance Agency LLC in California and Cornerstone Producers LLC in New York, Alabama, and Mississippi.
- Storage Business Owners AlliancecoreSBOA Tenant Insurance was created by SBOA leadership and top operators with a vision to design an insurance product tailored for operators and their tenants. Ian B., President & Co-Founder of Storage Business Owners Alliance, has been a long-term partner and client of the SBOATI program.
- Atlantic Self StoragemajorAtlantic Self Storage has partnered with SBOA Tenant Insurance since early 2017. They offer the tenant insurance program at their facilities, providing customers with coverage against unforeseen circumstances or challenges while storing items.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
SBOA Tenant Insurance competitors and assessment
Company assessmentOthers
- Public Storage: Public Storage is the largest self-storage REIT in the US and offers tenant insurance to its customers through a partner program. It is a distribution-side ecosystem participant that shapes demand for SBOA's product but does not directly underwrite.
- Extra Space Storage: Extra Space Storage is a major self-storage REIT that markets tenant insurance to its renters. As an operator-led ecosystem participant, it is a potential partner or competitor depending on program structure.
- CubeSmart: CubeSmart is a large self-storage REIT that offers tenant protection plans at its facilities. Comparable as a storage operator ecosystem participant that influences how tenant insurance is purchased in the channel SBOA serves.
Broad incumbents
- Cincinnati Financial: Cincinnati Financial writes specialty commercial and personal lines, including self-storage and inland marine products, via independent agents. Comparable as a broad incumbent in the P&C space that touches self-storage.
- Hanover Insurance Group: Hanover's Specialty and Personal Lines businesses include inland marine and small commercial products used by self-storage operators and their tenants. It is a larger P&C carrier with adjacent specialty offerings.
- Great American Insurance Group: Great American's Specialty Property & Casualty division has long offered self-storage operator and tenant insurance programs through MGAs. It is a broad incumbent in the same specialty insurance space, with deeper balance sheet but less vertical focus than SBOA.
- National Storage Affiliates: NSA is one of the largest self-storage owner-operators in the US and operates tenant insurance programs at its facilities. Comparable as a broad incumbent that both consumes and competes for the same tenant insurance dollar.
- State National Companies: State National is a specialty P&C carrier and program administrator with embedded insurance products across multiple verticals, including collateral protection and tenant-related coverages. Comparable as a broad incumbent in specialty insurance programs.
Direct peers
- Barrett-Johnson & Associates: Barrett-Johnson & Associates is a specialty insurance agency focused on self-storage operators and tenants, providing tenant protection and operator insurance products. It competes head-to-head with SBOA in the same vertical distribution channel.
- MiniCo Insurance Agency: MiniCo is a specialty MGA that historically offered tenant insurance programs specifically to the self-storage industry. It is the closest direct competitor to SBOA in vertical-specific self-storage tenant insurance.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
SBOA Tenant Insurance social profiles
Digital presenceSBOA Tenant Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
SBOA Tenant Insurance leadership team
Management profileNumber of profiles
SBOA Tenant Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SBOA Tenant Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SBOA Tenant Insurance
What does SBOA Tenant Insurance do?
SBOA Tenant Insurance (SBOATI) provides tenant insurance products specifically designed for the self-storage industry, offering coverage to individuals and businesses renting storage units. The program is administered by Alchemy Insurance Solutions LLC as managing general agent, backed by an A-rated carrier, and integrates directly with facility management and point-of-sale systems to automate premium collection along with monthly rent payments. Coverage includes $0 deductible on all claims, multiple coverage limits and endorsements, and 24/7 claims reporting via toll-free hotline, online, or email.
Is SBOA Tenant Insurance a public or private company?
SBOA Tenant Insurance is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was SBOA Tenant Insurance founded?
SBOA Tenant Insurance was founded in 2011. It employs 1 to 10 people.
Where is SBOA Tenant Insurance based?
SBOA Tenant Insurance is headquartered in Lancaster, United States, in the North America region.
How does SBOA Tenant Insurance make money?
Two revenue lines are on record. Tenant Insurance Premiums are the primary driver. The others are operator Administrative Fees.
Who are SBOA Tenant Insurance's main competitors?
Others on record are Public Storage, Extra Space Storage and CubeSmart. Broad incumbents are Cincinnati Financial, Hanover Insurance Group, Great American Insurance Group, National Storage Affiliates and State National Companies. Direct peers are Barrett-Johnson & Associates and MiniCo Insurance Agency.
Does SBOA Tenant Insurance have an API?
No public API is recorded for SBOA Tenant Insurance.
What industry is SBOA Tenant Insurance in?
SBOA Tenant Insurance's product category is Self-Storage Tenant Insurance. Its primary akta.pro industry code is FSAJACAB, Renters Insurance, with a secondary code of FSAEADAF, Captive Insurance Advisory & Management. Its NAICS code is 524126 and its SIC code is 6331.