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Landlord portfolio insurance
If you are a landlord with four or more (mortgaged) commercial and residential properties, then typically you may be classed as a property portfolio landlord.
This means that rather than have several landlords insurance policies to protect your investment, you may find that property portfolio insurance is a more cost-effective and suitable insurance solution.
What is landlord portfolio insurance and what does it cover?
Landlord portfolio insurance provides a convenient and cost-effective way of safeguarding the multiple properties you own under one, single policy. It may also be called block policy insurance.
Portfolio landlord insurance continues to provide every element of protection you may find when arranging cover for each property separately. In other words, each property in your portfolio typically enjoys the safeguards of:
- buildings insurance – to protect the structure and fabric of the building against such potentially serious incidents as flooding, fire, explosions, impacts, storm damage, vandalism and theft;
- contents insurance – to protect any contents you own in the let property (your tenants, of course, are responsible for insuring their own belongings and possessions with tenant contents insurance);
- landlord liability insurance – this is liability insurance for claims made by your tenants, their visitors, neighbours or members of the public who hold you liable for injuries they have suffered or their property that has been damaged because of your actions (or inactions) as a landlord; and
- loss of rent cover – this is compensation for loss of rental income (up tp set limits) where a serious insured event leaves any of the properties in your portfolio temporarily uninhabitable.
What types of properties can be insured under a portfolio policy?
Portfolio properties can be a mixture of different types (and uses) of mortgaged, let, property. They can all covered under one property portfolio policy – for example:
- mixed use properties;
- commercial and residential properties;
- HMO properties.
Why may you need multiple property insurance
Landlord insurance is an essential safeguard for anyone owning buy to let property, no matter what it's type. Indeed, if you are buying it with the help of a mortgage, your lender is almost certain to insist that adequate insurance always remains in place.
If you own a whole portfolio of buy to let properties, both you and the mortgage lender are likely to be more concerned than usual about the operating costs of your business – including your insurance.
Landlord portfolio insurance maintains the full range of safeguards you need for each property, whilst offering the opportunity to manage costs and operating expenses by taking advantage of the discounts available when insuring more than one property.
What are the benefits of property portfolio insurance?
Having a single policy for multiple properties can provide you with:
- the valuable discounts you may expect to get when insuring more than one property;
- Cover for all your properties share the same renewal date. This reduces the length of administrative time – and money – you spend monitoring your landlord insurance and helps to ensure that none is accidentally overlooked when you are juggling different renewal dates throughout the year.
How do I arrange multiple property insurance?
Making sure you have the most cost-effective and appropriate cover for multiple let properties is extremely important. At UKinsuranceNET we can help you choose the most suitable property portfolio insurance for your own unique needs, quickly and easily. Simply get a quote online, request a callback or, telephone us on 01325 346328 and we will be delighted to help.
How many let properties can I insure under one block policy?
The amount of investment properties you can insure under one portfolio property will depend on the individual insurer. At UKinsuranceNET, there is no limit on the number of commercial and residential properties under one landlords portfolio insurance policy.
Why choose us at UKinsuranceNET?
UKinsuranceNET is one of the country’s leading independent brokers in the market for bespoke insurance for all types of landlord, including those who own and operate multiple property portfolios.
Using our bespoke, personal service, our property portfolio insurance can be tailored to meet your own unique needs. We can cover all type of risks under one policy including mixed-use properties, commercial and residential properties and HMO properties.
In addition, we have no restriction on your tenant type – we can cater for all tenant types from professionals to benefits recipients.
Top rated customer service is our paramount aim by ensuring that your insurance needs are precisely met – and at what we believe are very competitive market rates.
