Insurance News Archive

Landlords who group together 'can save on insurance'

With commercial landlords' insurance worries ranging from simple concerns over flooding to potential terrorist threats, it has been suggested that they may be able to save money by grouping together.

Group schemes allow landlords to collectively arrange insurance to cover all their property together, which can result in lower premium costs.

Lee Grandin, managing director of advisory website landlordinsurance.co.uk, said: "It can be very cost effective to run a group scheme, where you can have a collective renewal date.

"The reason being is that there's a mass bulk that landlords can provide to an insurer because they own so many properties."

However, the savings achieved by bulk buying insurance are outset by the greater risk in covering more property, as claims may be made on a property not directly owned by the landlord which could push premium costs up.

01 Oct 2007