Every single business in existence today has one thing in common, it would be able to trace it’s origins, however far back, to small and humble beginnings. The biggest brand names operating on the planet today started off somewhere, usually as an idea or from a single outlet.
The same applies to property owners, there are not many people out there who wake up one day and go and purchase a dozen or so buildings. What normally happens is that a single building is purchased and the yield from that property is used to secure additional funding for property number 2 and so on and so on. This is how empires grow. The best business empires have grown organically. Yes, there are successful businesses that have grown through a combination of organic and purchase, but the more stable, viable, long term businesses have grown slowly and carefully.
Commercial property owners insurance policies need to be able to adapt to the growing property empire. If you are seeking buy to let or landlord insurance you need to ensure that your policy can cover more than one property if you are looking to grow and add to your portfolio. Potentially, you may be happy to work with individual policies, but this can become cumbersome and difficult to manage, depending on the size of your estate.
If you now have a number of properties and are looking for cover, the best thing to do is to speak to a specialist business insurance broker. Your properties are your business, you receive income from them and therefore, you need a broker that understands your needs, wants and requirements.
One thing to make certain is that your broker and the insurer that they offer you cover through are both UK based and authorised and regulated by the Financial Services Authority.