26 Jun Blanket Insurance: A Quick Guide
When it comes to property management, having the proper amount of insurance is one of the biggest factors to consider. Here is a quick guide to blanket insurance. If you have multiple properties, having a blanket insurance policy can save you a lot of time, headaches, and in some cases, money.
What is Blanket Insurance
Blanket insurance is a type of property insurance that will cover multiple properties under the same policy. Here are some of the other benefits and considerations regarding a blanket policy.
A Single Limit Among All Properties
Blanket insurance can provide several different types of coverage on a single property, or across multiple properties. For example, the property insurance could cover not only the home’s structure but also the personal property in and around the home as well. And if you have multiple properties, the insurance will provide a single limit to cover them all. In the event of a total loss, the replacement costs will be disbursed across all properties.
Properties Can Be Located Across All States
When dealing with rental property insurance, investors want to make it as easy as possible. You may have multiple properties in different states, so you can save a lot of trouble down the road by having all of them covered under one single blanket policy. The best rental property insurance companies will allow you to cover all of your properties in one policy, whether you have two properties or a few thousand properties.
Bundle All Property Insurance With The Same Company
Bundling any type of service or product will generally save you money, and the same goes for insurance. A blanket insurance policy is going to be more expensive than a single policy, but it also offers more coverage. Compare the cost to covering each property individually, and you can expect to save a small percentage by going with a blanket policy.
In addition, having all properties covered under the same policy will make it easier if you have to file a claim at any time. You won’t have to spend time looking for which company is covering a particular structure, and you’ll have peace of mind knowing a single company is helping you with your property management strategies.
At APIA, we understand all the challenges of rental property management and want to give you as much peace of mind as possible. We offer many deductible options and the best blanket property insurance options no matter how many properties you own across all states. We’ve helped thousands of property owners across the country, so be sure to contact us to see how we can provide you with your property insurance needs as well.