Multi-property landlord insurance

The more properties you put on one policy, the better value for money you get for insuring each one of them. Everywhen enables you to cover different property types (commercial, residential or mix) under one policy in the majority of situations.

Speak with one of our advisers if you have any questions about placing a mixed portfolio of properties under one policy.

Insuring several properties or an entire portfolio of property in one place can save you time and money. Our video guide explains how.

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Video transcript

If you’ve got more than one property it’s likely you’ll have quite a lot to manage. To give you one less thing to manage, we can insure all the properties in your portfolio under one policy.

You don’t need to worry if you own many different types of property nor do you need to worry if you have different types of tenant in each property. Our policy is flexible enough to accommodate a range of different circumstances.

With our flexi-let policy you can even mix and match the cover you require which enables you to get tailored cover to suit your portfolio.

As well as being more convenient, insuring your properties under one policy can also be cheaper. Firstly, you’ll only pay one admin fee rather than admin fees for multiple policies and secondly, the more properties you add to the policy the cheaper the premium per property.

This cover is optional and available for commercial and residential buildings alike. It protects your property should the building and/or its contents suffer direct damage through an act of terrorism. If you have added terrorism cover to your property portfolio landlord insurance, then this will also extend to the loss of rent section.

The cost of your landlord insurance will depend on many factors. Everything from the type of cover you need, to the property’s location, construction, occupation and values to be insured.

First, you’ll need to choose between building or contents insurance, or a combined landlord insurance including both buildings and landlord’s contents, before setting your specific levels of cover. The type and level of cover you opt for will have an influence on the cost of your insurance.

The size, style and even the roof of your property will also have an impact on how much you pay for your policy. No matter what kind of property you own, your insurance policy should include protection for the rebuilding costs at today’s prices and associated property owners’ liability. Remember, rebuilding costs can amount to far more than the market value of your property.

If the worst happens and your property is destroyed by a fire, you’ll need to allow for a variety of additional costs, including:

• Debris removal

• Site clearance

• Architects and surveyors’ fees

• Planning permission

• Other legal and professional fees

• The possibility that your VAT status may affect your building sum insured. i.e. do you include or exclude VAT in your rebuilding valuation?

Landlord insurance can cover you for loss of rent receivable while your property is uninhabitable, ensuring you still have money coming in until your tenants can move back in. Its important to consider the length of time it will take to fully rebuild the property and ready for full occupation once again. This period is called the maximum indemnity period, and you should take care when assessing this. The minimum period available for loss of rent is normally 12 months, but we recommend longer periods are arranged for at least 24 months, allow for unexpected delays that often occur. Specialist or listed properties can take even longer to rebuild, so it’s important to seek guidance from your surveyor and insurance advisor.

Your landlord insurance will also be affected by the tenants you’ll be welcoming. For example, if you’re going to be renting the property to a professional couple, you may well find that your cover is cheaper than if you’re planning on letting to a group of students.

Previous claims and the number of properties you insure will also influence the final cost of your insurance, together with any optional additional covers that you may wish to arrange e.g. home emergency cover.

The rebuilding value should include provision for the costs of: demolition and removal of debris, rebuilding materials and labour costs, as well as architects, surveyors and legal fees. As a property owner, you also need to take into account your VAT status. If you are not registered for VAT, then you should include VAT in your sums insured.

Buy to let insurance can cover a range of tenancy types, including lets for professionals, students, DSS tenants, sub-lets and family lets. When you take out your policy, you may choose to add additional cover options too.

The lease on HMO insurance properties is different and due to the number of people inhabiting the property, the address must be registered as an HMO residence. HMO insurance presents a considerably higher risk as there are multiple occupants, it requires that the premises must be the occupant’s main place of residence or used by students during term time.

Buy to let insurance can cover a range of tenancy types, including lets for professionals, students, DSS tenants, sub-lets and family lets. When you take out your policy, you may choose to add additional cover options too.

To help you manage the cost of your multi property landlord insurance premiums, we offer a quick and easy direct debit scheme for spreading payment over ten months. Please visit our dedicated Direct Debit page to find out more.

If you would like to know more about our monthly payment option, please visit our dedicated Direct Debit page.