Methods of covering all properties under a single policy
Good morning all,
I am hoping to pick the minds of some of you that have less than 100 but more than 5 rental properties on methods of insuring same. Currently, I run individual landlord policies on each property. At my "day" job, our insurance covers multiple parcels of real estate in different areas (though all in the same metro area), and this would be great for me because it would allow me to just add another unit (or subtract one) from the policy as I acquire/sell properties, be easier for recordkeeping, have one payment per year for all insurance, etc. My local agent isn't that well-versed on rental properties as a business - the policies they write are all similar to what I have now, with individual liability setups on each property, etc - and I thought I might have some information on what I would need to shop for to accomplish this from someone already doing it. I also hope to save a little money - I notice that at my company, what we pay in insurance for more property (and more valuable property) is less than what I pay, and we have higher liability coverage (though I do have a higher PUP than my company, but I leave that out of the equation).
Thoughts? All of the property is held in my name, not through an LLC or similar.
