Landlord portfolio insurance puts several let properties on one policy with one schedule, one renewal and one claims history. Most landlords arrive at it by accident, having bought a policy with each property and then noticed that four renewal dates, four excesses and four insurers are four times the administration for no extra cover. The switch is usually cheaper as well as simpler, and the saving grows with the number of properties.
What a portfolio policy actually changes
One renewal date rather than several. One excess structure, often with a single excess per claim rather than per property. One liability limit covering the whole portfolio rather than a separate limit on each building, which is what a commercial tenant or a local authority will ask to see. One insurer to deal with when something goes wrong, and one claims record, which cuts both ways: a bad claim affects the whole portfolio at renewal rather than one property.
The schedule is the policy
Everything turns on the property schedule: address, construction, year built, rebuild sum insured, occupancy type and any unusual feature such as flat roofs, thatch, listed status or a flood history. An error here is not a clerical matter, it is a misdescription of the risk. The schedule should be reviewed at every renewal and updated the day a property is bought, sold or relet to a different kind of tenant.
Where the premium actually comes from
Portfolio pricing is driven by the mix rather than the count. A portfolio of professional lets in low risk postcodes prices very differently from the same number of student houses or properties let to tenants on benefits, and one difficult occupancy can move the whole book. Insurers vary enormously in appetite, which is why a broker earns their keep on portfolios in a way they often do not on a single property.
What to watch as the portfolio grows
Aggregate liability limits that made sense at three properties and do not at fifteen. Rebuild figures that were right when they were set and have not been revisited. Unoccupancy allowances, which matter more the more properties you own because at any moment one of them is empty. And whether the portfolio is held personally or through a company, because the insured name has to match the owner.
Questions people ask about landlord portfolio insurance
How many properties do I need for a portfolio policy?
Most insurers write from two or three upwards, and the administrative saving is worth it from about three. The premium saving usually becomes material somewhere above five.
Can I mix residential and commercial in one portfolio?
Many insurers will, and some will not. Mixed portfolios are a common reason to use a broker, because appetite differs sharply between insurers.
Does one claim affect the whole portfolio?
At renewal, yes. That is the trade against the simplicity, and it is why the excess structure is worth negotiating rather than accepting.
What if I buy a property mid term?
Portfolio policies normally allow properties to be added during the year with a pro rata premium. Adding it the day you complete rather than at renewal is what keeps the cover continuous.