Your best property portfolio insurance options

July 14, 2012

Landlords Insurance

If you have a number of buy to let properties, you may find that keeping track of the insurance details for each one may be a bit of a nightmare.

Here are some top tips about how you may be able to simplify your insurance options by finding the best property portfolio insurance that allows you to condense your property insurance into just one policy:

  • the first point you may wish to bear in mind is that the best option for another landlord may not be the best options for you – you may need to shop around to ensure that you find cover that is appropriate for your own individual situation;
  • with a multi-property policy your administration may be all the more simple with only one renewal date to remember and you may also appreciate having just one point of contact for all of your insurance questions;
  • with some providers of property portfolio cover, you may be able to benefit from this type of protection if you have just two properties. Some other providers may require that you have three or more;
  • a single policy may also allow you to perhaps fully understand in more detail just what is covered and what is not;
  • with some multi property policies you may find that cover for features such as subsidence, malicious damage by tenants and compensation for loss of rental income following an insured event for example, may be provided as standard and because the same features may be applied across all postcodes, all of your properties may have exactly the same protection;
  • similarly, if you let your property out to different types of tenants, you may have come across policies which excluded certain categories like students or DSS from cover. Some property portfolio policies, however, may provide cover for all categories;
  • you may wish to bear in mind too that there may be cost advantages in having just one portfolio policy, as opposed to individual policies for each of your properties.

Managing your property portfolio may involve a bit more than just collecting the rent and doing a bit of maintenance now and then. Spending a lot of time on insurance related issues can be made just that bit easier with a property portfolio insurance policy and you could save yourself a bit of money into the bargain.

We would be more than happy to provide you with additional information about how to maximise your cover and peace of mind with multi property cover.

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