Multi-property landlord insurance
Cover options for landlords with several properties, on one policy with one renewal date, including buildings, loss of rent and property owners' liability.
One policy for your whole portfolio
Multi-property landlord insurance, also called landlord portfolio insurance, puts several let properties on one policy, usually with one renewal date and one set of documents. Portfolio policies may include houses, flats, HMOs and some commercial units together, with the cover set for each property.
PIB Insurance Brokers arranges portfolio cover for private and company landlords with several properties. A broker can be particularly helpful when your portfolio is more complex, for example a mix of residential and commercial units, different tenant types, properties that are sometimes empty, or properties bought and sold during the year. If you have a single let property, see our landlord insurance; for shops, offices or industrial units, our commercial landlord insurance; and for blocks of flats or mixed-use buildings, our property owners insurance.
What multi-property landlord insurance covers
Portfolio policies usually combine a core of covers for every property with optional extras chosen property by property. The summaries below are general examples of what may be covered in each section; your policy schedule and wording decide what is and isn't covered in any claim.
Core covers
Buildings
The structure and fixed fittings, such as kitchens and bathrooms, against fire, flood, storm, escape of water, subsidence, theft and malicious damage.
Watch for: A sum insured based on market value rather than rebuild cost, and restricted cover if the property is empty beyond a stated period.
Loss of rent
The rent you lose while tenants can't live in or use the property after an insured event such as a fire or flood, and sometimes the cost of rehousing tenants.
Watch for: A cover period too short to repair and re-let, and rent lost for reasons other than insured damage, such as tenants not paying (see rent guarantee).
Property owners' liability
Claims from tenants, visitors or members of the public who are hurt, or whose property is damaged, because of the building, such as a fall on a broken stair or a slate falling from the roof.
Watch for: Claims from your own staff (covered by employers' liability), defects you knew about and didn't fix, and liability you've taken on by contract.
Landlord's contents
Items you provide in furnished lets and in shared areas, such as furniture, carpets and white goods.
Watch for: Tenants' own belongings, which they insure themselves.
Optional covers to consider
Rent guarantee and legal expenses
The rent a tenant owes if they stop paying, and legal costs to recover the property, usually per property.
Watch for: Usually needs tenants to have passed referencing before the tenancy starts.
Empty properties
Cover for properties between tenants or awaiting sale, usually on different terms from let properties. See unoccupied property insurance.
Watch for: Conditions such as regular inspections and draining down water, and restricted cover beyond a stated number of days.
Terrorism
Damage and lost rent caused by terrorism, which standard property cover usually excludes. Some lenders and leases require it.
Watch for: Usually bought as a separate policy; terms depend on location and the sums insured.
Engineering inspection
Thorough examinations of lifts, boilers and pressure systems that the law requires on a set schedule, for example every six months for passenger lifts. Note: This is an inspection service, not insurance, and isn't regulated by the FCA.
Watch for: Inspections are separate from breakdown cover and don't pay for repairs.
Accidental damage
Sudden, unintended damage to buildings or contents.
Watch for: Wear and tear, damage caused gradually, and lower limits for damage by tenants.
How portfolio policies work
- One renewal: all properties usually renew on the same date, with one schedule listing each property and its cover.
- Adding and removing properties: insurers usually let you add or remove properties during the year, with the premium adjusted.
- Mixed portfolios: houses, flats, HMOs and some commercial units may sit on the same policy, depending on the insurer.
- Details for each property: insurers usually ask for each address, its rebuild cost, the tenant type and whether it's let, empty or being worked on.
- Minimum size: some insurers set a minimum number of properties for a portfolio policy.
Keep the property list up to date. A property left off the schedule, or one whose tenant type or occupancy has changed without telling the insurer, may not be covered as you expect.
What multi-property landlord insurance does not cover
Typical limits across portfolio policies:
- Problems that existed before the policy started: known damage and ongoing disputes are usually excluded.
- Wear and tear: buildings, fittings and contents wearing out over time isn't insurable damage.
- Poor maintenance: damage caused by defects that weren't repaired, such as a leaking roof or blocked gutters, may be excluded.
- Properties not on the schedule: a property you haven't added isn't usually covered.
- Undeclared tenants or uses: claims may be reduced or refused if the tenant type or use wasn't declared.
- Empty periods: cover is usually restricted once a property has been empty for a stated period, often 30 or 60 days.
- Underinsurance: if your sums insured are too low, the insurer may reduce a claim in proportion (known as average).
- An excess on most claims: most covers carry an excess (the amount you pay before the insurer contributes), which varies by cover.
Conditions matter too: claims may also be reduced or declined if policy conditions aren't met. Common examples: a property empty for longer than the policy allows, changes to tenants or use not declared, or legal safety checks, such as annual gas safety checks, not kept up to date.
How much does multi-property landlord insurance cost?
There is no standard price. What you pay depends on the number and type of properties, their rebuild costs and locations, your tenant types, whether any are empty, the covers you choose for each and your claims history.
What affects the cost
- A clean claims record: insurers usually look at the last three to five years.
- Accurate property details: correct rebuild costs, tenant types and occupancy for each property avoid paying too much or being left short after a claim.
- Security and safety: good locks, working alarms and up-to-date safety checks may lower the cost.
- Your excess: choosing a higher excess (the amount you pay towards each claim) may lower the premium, the price of your cover.
Why work with PIB Insurance Brokers
We explore your options
We can approach insurers that cover landlord portfolios and set out the differences in cover, not just price.
We look at your portfolio
A mix of residential and commercial units, different tenant types or properties that are sometimes empty may each change what you need to tell your insurer.
We look for common gaps
Properties missing from the schedule, rebuild costs that haven't kept up, or no cover for empty periods between tenants.
Here when things change
Our team is on hand throughout the policy year for advice, whether your circumstances change or you're not sure what to do next.
What our clients say
Reviews from PIB Insurance Brokers clients across the sectors we work with, collected by Reviews.io.
Growing a portfolio, or not sure every property is covered properly?
Get a quoteFrequently asked questions
What is landlord portfolio insurance?
It's a single policy that covers several let properties, usually with one renewal date and one schedule listing each property and its cover. It suits landlords who'd rather manage one policy than several, and it usually allows properties to be added or sold during the year.
Can residential and commercial properties go on the same policy?
Often, yes. Many portfolio policies include houses, flats and HMOs alongside some commercial units, such as a shop with a flat above. It depends on the insurer and the types of property and tenant, so each property needs to be described accurately.