Insuring All Your Rental Properties Under One Policy: What to Know
- Jan 5
- 3 min read
As landlords grow their rental portfolios, one of the most common questions that comes up is: “Can I insure all my rental properties under one policy?” The short answer is yes—multi‑property or blanket insurance policies do exist—but understanding whether they’re right for you depends on your properties, risks, and goals.
This guide explains how single‑policy solutions work, their pros and cons, and how to determine if they’re the best fit for your rental business.
Why Landlords Consider One Policy for Multiple Properties
Managing several individual insurance policies can be time‑consuming. Each property may have its own renewal date, deductible, and insurer. For landlords with more than a few units, this becomes difficult to track—especially when filing claims or making updates.
Landlord insurance is designed specifically for rental properties and includes both property protection and liability coverage, which homeowners insurance does not provide. As your portfolio grows, your coverage needs become more complex, reinforcing the need for proper landlord‑specific insurance.
How Multi-Property Insurance Works
Multi-property insurance, sometimes called blanket coverage, allows landlords to cover multiple rental units under one policy. It typically applies to:
Multiple units within the same building (e.g., a quadplex)
Multiple separate properties owned by the same landlord
Mixed unit types: duplexes, triplexes, or quadplexes
Key benefits include:
Simplified billing and renewal process
Potential cost savings on premiums
Consistent coverage across all properties
Coverage Considerations
When insuring multiple rental properties under a single policy, landlords should ensure the policy includes:
1. Dwelling Coverage
Each property must be insured at replacement cost value (RCV) to fully protect against rebuilding costs. Market value is insufficient for insurance purposes.
Liability limits should reflect combined exposure across all properties. A single lawsuit affecting tenants in multiple units could exceed a standard single-property limit.
Consider adding umbrella liability coverage to extend protection across all rental properties.
3. Loss-of-Rental-Income Coverage
Loss-of-rents coverage should be structured to protect income from all covered properties, ensuring mortgage and operational costs remain paid if any unit becomes uninhabitable.
4. Optional Endorsements
Depending on property location and risk, consider:
Flood insurance
Earthquake insurance
Equipment breakdown coverage
Tenant-caused damage endorsements
Pros of Using One Policy for All Rental Properties
1. Simplified Management
One renewal date, one bill, and one claims process mean less administrative work. Landlords with multiple properties often find this especially helpful.
2. Cost Efficiency
Consolidating properties may reduce your total premium compared to insuring each property separately. Many insurers pass on multi‑property discounts.
3. Flexible Shared Coverage
With a blanket limit, you can apply more coverage to whichever property needs it most after a claim. This flexibility can be extremely valuable for portfolios with varying property sizes and values.
Cons and Limitations of One‑Policy Coverage
Even though one policy sounds ideal, it’s not always the best fit.
1. Properties May Have Different Risks
Industry guidance shows that not all properties qualify for identical coverage. A master policy may miss specific risks for individual locations, especially if they differ in age, construction, or tenant type.
2. Coverage Limits Must Be Carefully Set
If the blanket limit is too low, property owners may face gaps during major claims events. Proper valuations are extremely important.
3. Not All Carriers Offer Multi‑Property Options
Smaller insurers may only offer single‑property policies or impose caps on how many properties one policy can protect. Larger portfolios often qualify for commercial or specialized landlord products.
For additional insights on coverage limitations, the Todd D. Tucker Agency’s guide is helpful.
When a Single Policy Works Best
A unified policy is often best for landlords who:
Own multiple similar properties (e.g., several single‑family rentals)
Prefer unified liability coverage
Want streamlined policy management
Have properties in the same geographic region
If your properties vary significantly or span multiple states, an insurance professional may recommend a hybrid approach—some properties under a blanket policy and others individually insured.
Conclusion
Insuring all your rental properties under one policy can be highly effective—but only when done correctly. Blanket or multi‑property policies can simplify management, reduce premiums, and provide flexible protection. However, they must be structured carefully to ensure every property in your portfolio has the coverage it needs.
That’s where Wexford Insurance comes in. We work with rental property owners nationwide and specialize in crafting custom insurance strategies that protect entire real estate portfolios under the most efficient policy structure.
Contact us today.