If you are an owner of several rental properties, keeping your insurance program organized is very important. If you are like many owners, as you acquired each new multi-family property you purchased an individual policy just ahead of the closing to have protection for the building and liability associated with the new exposure. Now you may have several different insurance policies all with different renewal dates, different payment dates, with different companies, and possibly even different liability limits.
There is a better way. You can simplify the insurance for all of the properties by placing them all on one policy, with one payment, and with one renewal date. Equally important, the policy’s liability coverage will extend over all of the properties. This will consolidate your coverage, eliminate duplicate coverage, and simplify the management of the properties.
Let us look at a common structure: You own several rental properties, and the current insurance program looks like:
Placing these four properties, and their insurance programs, under one policy would simplify the billing, standardize the coverage for all of the properties, and eliminate the hassle of separate renewals each year.
The new insurance policy would look like:
If you want to investigate this option even further, simply contact us by clicking below.
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