Portfolio Insurance is aimed at landlords with five or more properties in their portfolio, enabling them to make cost and time savings by combining their separate insurance policies into one single easy-to-manage ‘all risks’ portfolio policy, according to the provider. The policy provides buildings cover as standard and includes automatic loss of rent, theft and malicious damage cover and landlord’s legal liabilities.
Paragon works with a panel of leading insurers to provide a bespoke policy based on a landlord’s individual policy portfolio. A Portfolio Insurance policy is typically cheaper than buying single policies as Paragon’s insurance partners offer greater discounts on bulk purchases.
Paragon Landlord Insurance draws on The Paragon Group’s considerable experience in the buy-to-let and private rented sector, which includes 16 years of offering specialist insurance products to Paragon’s own buy-to-let customers. However, this is the first occasion Paragon has offered its Portfolio Insurance product to the whole of market.
Commenting, Julian Rance, Paragon Landlord Insurance managing director, said: “Landlords are time-pressured individuals – juggling several insurance policies at the same time can be both time consuming and costly for the landlord.
“By talking to a landlord and understanding exactly what their insurance needs are, we can provide a bespoke quotation tailored around their individual portfolio.”