Property portfolio insurance covers several properties under one policy, and it is underwritten on the mix rather than on the number. Ten professional lets in low risk postcodes and ten student houses in a city centre are the same count and completely different books. Understanding which kind of portfolio you have explains most of what an insurer will quote.
The mix, not the count
Insurers look at tenant types, property types, construction, geography and claims history across the schedule. One difficult occupancy can move the pricing of the whole book, and a portfolio spread across many postcodes prices differently from one concentrated in a single street, where a flood or a fire could touch several properties at once.
Aggregation, which is the risk behind the concentration
A portfolio in one building or one street carries the risk that a single event damages several properties. Insurers price that and sometimes limit it. A landlord with four flats in one block should check whether the liability limit and any aggregate apply per property or across the policy, because a single event could otherwise consume the year.
What a broker adds here
Appetite for portfolios varies enormously between insurers, and mixed portfolios, non standard construction and properties with claims histories are exactly where a broker reaches markets a form cannot. On a portfolio of any size the broker's fee is typically a small fraction of the premium difference between the first quote and the best one.
The annual review that keeps it honest
Properties bought and sold. Occupancy changes. Rebuild figures revisited. Liability limit checked against the aggregate structure. Claims reviewed, and any property with a recurring problem considered separately. An hour a year, and it is what keeps the schedule describing the portfolio you actually own.
Questions people ask about property portfolio insurance
How many properties make a portfolio?
Most insurers write portfolio policies from two or three upwards. The premium advantage usually becomes material above about five.
Does one bad property affect the whole portfolio?
At renewal, yes, because the policy carries one claims record. Separating a persistently difficult property is a legitimate strategy.
Is the liability limit shared?
Often in the aggregate across the policy. Where several properties sit in one building or street, that matters, because one event could consume it.
Should I use a broker?
On a portfolio of any size, usually. Appetite varies sharply between insurers and mixed portfolios are exactly where that shows.