Insuring several let properties on one policy is the same cover on a longer schedule, and the schedule is where every problem starts. Each property carries its own construction, rebuild figure, occupancy and history, and the policy answers property by property against those entries. A portfolio that renews without anybody rereading the schedule is a portfolio quietly insuring last year's facts.
What each line of the schedule has to say
The address, the construction of walls and roof, the year built, whether it is listed, the rebuild sum insured, the type of tenant, whether it is furnished, and any feature the insurer rates separately such as a flat roof, thatch, previous subsidence or a flood history. A property described as a standard construction house that turns out to have a large flat roof is a misdescription, and misdescription is dealt with at claim time rather than at renewal.
Occupancy changes are the commonest gap
A property let to professionals this year and to students next year is a different risk under the same address. So is one relet to tenants on housing benefit, converted to an HMO, or left empty while it is refurbished. Most policies make notification of an occupancy change a condition, and most landlords forget. A simple rule, tell the insurer whenever a tenancy type changes, removes the largest single source of declined claims on portfolios.
Excesses and how a claim is treated
Portfolio policies usually apply the excess per claim rather than per property, which is better, but some apply it per property per claim where one event hits several buildings. Ask which. Ask also whether the liability limit is in the aggregate across the portfolio or applies to each property, because a single event affecting a block you own outright can consume an aggregate limit quickly.
Adding and removing properties during the year
A property bought in March should be added in March, not at renewal in September, and most policies allow it on a pro rata premium. A property sold should come off, because paying for cover on a building you no longer own is a pure loss. Both are five minute jobs that portfolios routinely leave undone for months.
Questions people ask about landlord insurance multiple properties
Is it cheaper to insure several properties together?
Usually, and the saving grows with the number. The administrative saving is immediate; the premium saving generally becomes material somewhere above five properties.
Can I mix houses, flats and commercial units?
Many insurers will, and appetite differs sharply. Mixed portfolios are the clearest case for using a broker rather than buying online.
What happens if I get the rebuild cost wrong on one property?
Underinsurance on that property is dealt with by averaging its claims, reducing every payment proportionally. It does not usually affect the other properties, but it does affect the insurer's view of the schedule.
Does a claim on one property raise the premium on all of them?
At renewal, generally yes, because the policy carries one claims record. That is the trade against a single renewal and a single point of contact.