Sometimes less is more, especially if you’re an owner or manager of multiple properties with multiple insurance policies. Chances are you’re spending more time on insurance than you should. I find that many property management and portfolio management companies spend hours tracking down renewals, while filling out applications with different effective dates. With the current insurance market, there are so many options available for companies to consolidate their insurance into a master insurance plan.
You’ll not only benefit from a time saving when it comes to this consolidation, but you will also address the following items:
- One renewal date
- Option for blanket limits on property and liability
- Ease of adding in new locations
- Strong relationship with partner carrier
- Flexibility when adding in new locations based on construction type
- Losses span a greater ratio based on multiple properties on policy
- Simplified billing
Consolidating policies to a master plan may be a great option for you. We make it simple to weigh your options. Not only can you benefit from the items above, but you’ll likely benefit from cost savings as well. With master insurance policies, you have a greater total insurable value. This can drive costs down on your property rates, as well as general liability. Depending on your current carriers, this option can also broaden the coverages that a standard standalone policy may not provide.
We’re happy to show you the value of simplicity. Chat with an MMA advisor today.