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BI Quotes Our Jeff Schneider on Need For NYC Renters Insurance

Posted on December 16, 2011

Gotham Brokerage president: Don’t expect NYC renters insurance policy to cover subletters, Airbnb clients

An apartment building on E. 12th Street in the East Village, Manhattan. Photo by 'Beyond My Ken' via Wikimedia Commons.

The Business Insider blog quotes Gotham Brokerage President Jeff Schneider in a post about an important topic: The risks New York City renters take when they go without renters insurance.

That’s something we just blogged about ourselves, so it’s on our minds. Only 43 percent of renters carry renters insurance, according to one nationwide study, and it’s a constant source of amazement to us that people won’t spend a couple of hundred bucks per year to protect their valuables in an apartment or rented house.

Jeff talks about how even renters with insurance need to realize their policies don’t cover subletters or guests staying temporarily in your apartment through Airbnb or similar services: “The short-term rental will void any coverage you may have,” he says. “So if the ‘guest’ damages the apartment or steals from you or is injured slipping in the bathroom, there is no coverage.”

That’s important for New Yorkers to realize, given how many apartments the city has and the popularity of the Airbnbs of the world. The BI post also offers tips on finding the right coverage, record keeping and insider suggestions. We’re happy BI turned to Jeff for his insight, obtained the hard way over years helping New Yorkers find the right auto and home insurance at the right price.

The family has been doing this for more than 50 years, after all, and as a brokerage, Jeff and the Gotham crew know how to pick and choose from a variety of insurance underwriters to tailor the best policy for your needs. Want to put that expertise to work for you in finding NYC renters insurance? See www.gothambrokerage.com and call or email us for a free quote!