Toy Storage Nation is grateful for the opportunity to learn the ins and outs of self-storage insurance from experts David Myers and Nathaniel Trone of Alchemy Insurance Solutions, which has teamed up with SBOA Insurance Services to provide tailored solutions for the self-storage and RV/boat storage industry. Focused on builder’s risk, commercial P&C and award-winning SBOA Tenant Insurance, the alliance delivers comprehensive coverage and peace of mind for facility owners and operators through resources, education and networking opportunities designed to enable businesses to grow.
David Myers (above left) is Head of Self-Storage and VP of Operations at Alchemy Insurance Solutions. With over 12 years in the self-storage industry, he runs the SBOA Tenant Insurance program, helping owners and operators protect their assets and maximize revenue. He is passionate about delivering tailored insurance solutions that support the unique needs of self-storage businesses nationwide.
Nathaniel Trone (above right) is the Senior Manager of Business Development at Alchemy Insurance Solutions. With nearly a decade of experience in client management and sales, he now leads growth for the award-winning SBOA Tenant Insurance Program, working closely with storage operators nationwide to streamline onboarding, increase revenue and ensure compliance, helping owners offer top-tier protection while reducing operational burden.
How did Alchemy become involved in self-storage insurance, and how did the relationship with SBOA evolve?
Alchemy’s entry into the self-storage insurance space was rooted in collaboration and a desire to do things differently. A group of seasoned storage operators—frustrated with the lackluster tenant insurance options on the market—believed there had to be a better way. Through mutual connections, they partnered with Alchemy’s founders to build a program tailored to the real needs of facilities and tenants. That operator-first mindset remains the foundation of everything we do.
Our relationship with the Storage Business Owners Alliance (SBOA) naturally grew from that shared vision. SBOA recognized the value in a program designed by and for storage professionals, and we recognized the power of SBOA’s platform to reach and support more owners. What began as aligned values quickly evolved into a strategic partnership—one that continues to scale, innovate and deliver meaningful results for storage operators nationwide.
What types of products and services does SBOA provide?
SBOA offers a comprehensive suite of resources for storage owners and operators. That includes everything from tenant insurance and property & casualty coverage to vendor discounts, educational content and strategic partnerships. Our tenant insurance program is a flagship offering—it’s backed by an A-rated carrier and provides fast claims service, high commissions and full licensing support.
Do owner/operators of RV and boat storage need different types of coverage from traditional storage? Can you explain what differences exist and why?
Yes, RVs and boats come with higher values and different risk profiles compared to typical storage contents. There’s greater exposure to weather-related losses, vandalism and liability. Many personal policies also exclude or limit coverage when these vehicles are stored. That’s why specialized tenant insurance—designed to close those gaps—is critical. Operators may also need unique property and liability policies tailored to larger parking lots, canopies or outdoor storage layouts.
What are the first steps a developer should take to ensure their property is appropriately protected from the start?
Developers should begin with a risk-first mindset. Before breaking ground, it’s critical to consult with insurance professionals who specialize in self-storage. This ensures proper coverage is in place from day one, whether it’s general liability, property insurance, builder’s risk or tenant insurance infrastructure. Planning ahead allows developers to structure their agreements, facility design and processes in a way that supports both compliance and financial protection. Working with an agency like Alchemy, who understands the nuances of storage from an operator’s perspective, helps streamline this process and avoid costly oversights.
Do RV/boat storage tenants need to have additional coverage if they already have a vehicle policy?
In many cases, RV and boat owners do have personal vehicle or marine policies—but these can have significant gaps. For example, they may not cover damage occurring while the vehicle is in storage, or may come with high deductibles. Additionally, if damage occurs due to a facility-related issue (like a roof collapse or theft on premises), the vehicle policy might not respond. Tenant insurance specifically designed with RV and boat storage in mind can help fill those gaps, offering broader protection at a lower cost and giving both the tenant and the operator greater peace of mind.
Are there differences in risk for uncovered spaces as opposed to canopied or fully enclosed units?
Absolutely. Uncovered spaces expose vehicles to weather, UV damage, falling debris and more frequent vandalism or theft attempts. Canopied spaces offer some protection but still leave vehicles partially exposed. Fully enclosed units, while more secure, come with their own risks—such as fire exposure or ventilation concerns. Each setup presents a different risk profile, and insurance should reflect that. Facilities should evaluate their mix of unit types and ensure their coverage (and tenant coverage offerings) are adjusted accordingly.
How can operators make sure they’re getting optimal coverage at a competitive rate?
Operators should work with insurance partners who specialize in self-storage and understand its operational realities. That means more than just price shopping—it involves understanding the fine print, coverage limits, claims handling practices and how the policy aligns with your facility’s actual exposure. Partnering with a program like Alchemy’s gives operators access to tailored policies, group buying power and ongoing risk management support, all of which help ensure optimal coverage without overpaying.
Why might storage operators choose SBOA insurance plans over other agencies?
SBOA Insurance Services, administered by Alchemy, is uniquely built by and for storage operators. That origin story matters—it means everything we do is grounded in real-world experience and a commitment to doing better. We offer a streamlined on-boarding process, hands-on training, industry-leading coverage options and a proven claims experience. Our relationship with SBOA ensures that members receive not only excellent coverage but also pricing and support structures designed specifically for their needs. When you choose an SBOA Insurance Services program, you’re not just buying insurance—you’re joining a community that understands your business and actively works to protect it.
Learn more at Alchemy Insurance Solutions and SBOA Insurance Services. Contact David Myers at (717) 898-5987, David.Myers@Alchemyins.com, and Nate Trone at (717) 742-3053, nate.trone@alchemyins.com.
