Landlords insurance for a property portfolio is a simple easy effective way to manage your properties.
The usual problem is that landlords do not usually buy all of their properties at the same time. So what usually happens is they end up insuring their properties at different times of the year. More often than not a landlord will then start to insure with lots of different companies for their portfolio insurance.
What you can do is buy landlords insurance for your whole property portfolio under one roof. It does not matter that for the time being it is insured here there and everywhere . What we aim to do is start with one of the landlords properties and slowly add them on, on a pro rata basis as and when they fall due for renewal. This way by the end of 12 months you will have created your own property portfolio.
The benefit of having a property portfolio is that you can now go to the market with a big premium which insurers will want to compete for, so on a good size property portfolio you could be saving yourself up to 30 percent. Again this is regardless as to whether you have commercial property or residential property.
For landlords with existing property portfolios, you are there already in the prime position to look for a good deal. Some portfolios can come with unoccupied properties in them so make sure you are getting the best deals . Standard insurance for unoccupied property is what they call FLEA cover. To be honest this is pretty basic cover and covers just FIRE LIGHTENING EARTHQUAKE AND AIRCRAFT.
With a good size portfolio you should be able to negotiate into the deal insurance with full perils on unoccupied properties.
