Condo and co-op insurance can help with snow, ice, bursting pipes and busted electronics
Winter in New York can be beautiful, as long as you don't suffer uninsured damage thanks to the snow. (Photo courtesy of Ivailo Dochkov, via Wikimedia Commons)
One of my favorite sites to refer people to (aside from my own blog, of course) is BrickUnderground, a site devoted to helping New Yorkers navigate the complicated world of New York real estate.
With winter closing in, I recently worked with them on an article outlining ways that property insurance can protect against cold weather hazards: “The foul-weather guide to apartment insurance: What you need to know about tornados, ice storms, blizzards and more.”
From the article:
“While apartment buildings generally have fewer weather-related claims than rural or suburban houses, each year we see dozens of claims for frozen and broken pipes, trees blown through roofs and walls, ice damming and overflows,” says Jeff Schneider, president of Gotham Brokerage Co., Inc., one of NYC’s oldest purveyors of co-op, condo and renters insurance.
Here’s a recap of some of the things that can go wrong and how NYC renter’s insurance can help:
1. Wind damage. If a neighbor’s bistro chair gets blown through your condo or co-op’s window by a nor’easter, apartment insurance can pay for a new window and any ensuing water damage from rain that might come in after the window is broken.
2. Power surges. When a winter storm knocks out your power, you might want to consider unplugging your electronics. That’s because when the power kicks back on, a power surge often occurs, frying your laptop or flat screen TV. The damage is covered by insurance.
3. Snow and ice. If snow thaws and refreezes on top of your building, the moisture could be locked against the top of your roof where it can seep into crevices and leak into the building. The water damage is covered.
4. Pipes. It’s important not to turn your thermostat down too far if you’re going to be away from your apartment because cold weather can cause pipes to freeze and burst, flooding your unit as well as neighbors’ homes. Again, insurance will help pay for the damage.
Gotham Brokerage has been helping protect New Yorkers for more than 50 years. We have an A+ rating from the Better Business Bureau and can help you find a NYC apartment insurance policy in as little as 20 minutes. Give us a call at 212-406-7300.
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