Property portfolio insurance – for multiple properties

November 17, 2011

Landlords Insurance

If you are a landlord with several properties under your management, you may wish to consider property portfolio insurance:


  • it may be possible to secure property portfolio insurance if you have two or more properties that you are letting out (the exact minimum number of properties may vary depending upon the individual insurer);


  • the basic principle behind this form of landlord’s insurance is that you may be able to achieve some economies by consolidating your various insurance for different properties under the one insurers’ roof;


  • this may also have the added advantage of meaning that you are only dealing with one insurer each year as opposed to several – that may reduce your administrative overhead, as you are only dealing with things such as quotation reviews and policy renewals once rather than many times;


  • typically, the details of the insurance may not change significantly and similar considerations may apply as to individual properties and policies;


  • not all insurers may offer this form of cover and if you are looking for a landlord insurance quote for each of several properties, it may be worthwhile looking for those insurers that do;


  • if you are thinking along the lines of how to drive the best benefits and most cost-effective solutions out of your landlord insurance, keep in mind that you may have options open to you for securing things such as premium discount;


  • those discounts may apply in cases where you are using additional security features for your properties (e.g. alarms and smoke detectors etc.) or where you have agreed to accept a higher voluntary excess – the excess on a policy is the amount of money that you agree to pay towards the total cost of a claim and typically the higher that amount is, the greater your discount may be;


  • few people would dispute that we live in economically troubled times and that managing costs downwards may be critically important to survival, therefore, property portfolio insurance may be something that should be taken seriously if you have multiple properties generating income for you.


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