Home Insurance What’s behind a property portfolio insurance quote?
What’s behind a property portfolio insurance quote?

What’s behind a property portfolio insurance quote?


You may see experienced landlords’ policy providers, such as CIA Landlords Insurance, advertising what they describe as a property portfolio insurance quote.

If you’re unsure what this actually means, the following overview might prove helpful:

  •    landlords with more than one or two properties will know very well just how big an administrative overhead that can be;
  •    of course, that affects many aspects of business life but one of those is buildings and contents insurance;
  •    in a situation where you have multiple properties, each with its own individual policy, then very soon you are likely to discover the inconvenience and paperwork burden that may come with lots of individual premiums, renewal dates and a lot of individual relationships to try and manage with separate policy providers;
  •    whatever other things the typical landlord might have in abundance, spare time isn’t really amongst them. So, some may be attracted by the idea of simplifying their insurance relationships considerably;
  •    this leads into the concept of having a single policy covering a number of different properties.  It is called property portfolio insurance and may bring with it a number of administrative advantages;
  •    perhaps the most obvious is that you will only have one policy and one renewal date to worry about;
  •    however, the advantages of only needing to have a relationship with a single provider of insurance, rather than several, can’t be underestimated either;
  •   then it is worth taking into account that other major theme of our times, cost control;
  •    as might be the case in many circumstances where you are giving more of your business to a single organisation, you might hopefully anticipate a more cost-effective solution for your insurance cover overall than may have been achievable with lots of individual policies;
  •    different providers may have quite considerably different views on how many properties you will need to have before you qualify for this type of cover.  Some may make it available only to landlords who have three or four (or more) properties although you may find some that will make it available if you have only two.

In today’s tough economic conditions, landlords typically need all the help they can get in order to try and achieve improved cost management and a reduction in the time they need to spend running what might be called the non-productive side of their business.

Having property portfolio cover as opposed to individual policies, might just help you achieve some of those objectives.