Why multi property insurance? What are the benefits in it?

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Acquiring different properties and maintaining them is not at all an easy business. Whether you have got it from ancestral possession or acquired with your hard work, you don’t want to lose anything of it. This is why getting a multi property done for you is the right thing. If you are using those properties for business then it is something that can profit you better. This will keep you tension free from worries and you can concentrate on other areas of your business. 

For any type of property

The multi property cover can be for any type of property whether it is residential or commercial or a mixture of both. This type of insurance covers almost anything that comes under the property even the fences of the property. It only covers that belongs to you not to any other. For example if you are keeping tenants in your property, their belongings of any kind don’t come under the cover but if any harm is done to the items that come under your name such as if the lights of your house are harmed, you can claim for it.

Covers all 

The plumbing, wiring, drainage system and other integral aspects of the property are also covered in this multi landlord insurance. Where other standard insurances give cover over the rental loss or the income protection, this type of insurance covers a lot more than that.

Restrictions 

This beneficial insurance also has some restrictions. The restriction is made on the number of properties. If you have less than four properties then you are not eligible for it. You must have 4 or more than that to file for this insurance.

Other Advantages

The process and the time of renewal are made as easy as in one single step. There is only one policy that covers all the properties of yours that means you have to deal with the same representative for any loss that happens to any of your properties. 

Why is it better?

Here is an explanation to better understand the benefits of multi-property insurance. If you have bought two or more policies to cover your entire property then you might face some hard time in getting the claim. The terms and conditions of such insurance policy are very complicated. When you go to claim the insurance for any damage caused to the property, the companies will make your go round and round by proving that the cover comes under that company and the others will ask to go to the first company. Instead of quickly settling the claim, they will delay it. This can cause frustration which can force you to satisfy with any value that they provide in the end.

Such a situation can be ignored by having multi-property insurance as with a single policy you not only cover all the belongings of the property under your name but also different properties that you own. Instead of taking multiple insurance policies, take multi-property insurance to save yourself from the hotchpotch and frustration. 

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