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Looking for condo or co-op, homeowners, or renters insurance, but have so many questions? At Gotham Brokerage, we understand that insurance can be a complex and sometimes confusing topic, which is why we’re here to help. Here you’ll find answers to some of the most commonly asked questions about insurance and our services. Whether you’re looking for renters insurance, condo or co-op insurance, or other types of coverage, we can help you find the right policy for your specific needs and budget. So take a look at our FAQ page and don’t hesitate to contact us if you have any further questions or need assistance.

What is Gotham Brokerage?

Based in New York City, for more than 60 years Gotham has been navigating the tricky and complicated landscape of apartment insurance in one of the world’s greatest cities. Gotham helps individual or family renters and owners acquire the insurance coverage that makes sense for them.

At Gotham, we specialize in several types of insurance, including condo and co-op insurance, renters insurance, and homeowners insurance. We work with multiple insurance companies to find the right coverage for our clients, based on their specific needs and budget. Our team of experienced insurance professionals is dedicated to providing personalized service and expert advice to ensure our clients are adequately protected.

Do you charge a fee for your services?

No, Gotham does not charge a fee for our services. Insurance brokerage agents are paid by commission from the insurance company you choose to work with. This commission is usually a percentage of the total cost you pay for the policy, and it’s already built into the price of the insurance. We understand that insurance is not a one-size-fits-all, so we work with multiple insurance companies to find the best coverage options for our client’s needs and budgets.

Are you licensed to sell apartment insurance in NYC?

Yes! Gotham is a licensed apartment insurance broker in the state of New York. We are authorized to sell apartment insurance policies and provide apartment insurance-related services to individuals, families, and businesses throughout New York City. Gotham is also certified by the Better Business Bureau.

Our team of licensed apartment insurance professionals has the knowledge and expertise to guide our clients through the apartment insurance buying process, from selecting the right coverage to managing claims. We are committed to delivering high-quality service and helping our clients find the best apartment insurance solutions for their unique needs.

What is the difference between an Insurance Agent and an Insurance Broker?

While insurance agents work directly for one or more insurance companies, insurance brokers work independently and represent multiple insurance companies. Insurance agents can offer policies and services only from the company they work for, while brokers can provide objective advice and compare coverage and pricing across different insurance companies. Brokers work on behalf of their clients and help them select the best coverage for their needs, while agents work on behalf of the insurance companies they represent.

How can Gotham help me?

At Gotham, we understand your belongings and personal items are most of the valued possessions you own. That’s why we’re committed to helping you find the absolute best apartment insurance policies on the market should disaster strike.

We don’t stop there. Gotham also provides ongoing support and assistance, including claims management and policy renewals, to ensure you have the protection you need when you need it most. Gotham focuses on delivering high-quality service and building lasting relationships with our clients. When you work with Gotham, you work with a real person who knows how to personalize our services to your needs, quickly and efficiently. From basic policies for the first-time renter to finding coverage options you didn’t know you needed, Gotham is here for everyone. Within New York City, there is no better company to work with to get your property covered than Gotham.

Is insurance required by law?

No – home, condo/co-op, and renters insurance is not required by law in most states. However, it is an incredibly smart idea and highly recommended to have it in case the worst happens, such as theft, fire, or other covered disaster-related events. Indeed, these types of insurance can provide financial protection for your personal belongings and liability coverage if someone is injured while visiting your rented home.

If you are financing a home or condo, you may be required from your lending institution to purchase homeowners insurance. Similarly, landlords can also require their renters to purchase renters insurance. Without these forms of insurance, you could be responsible for replacing your damaged or stolen belongings and for any legal costs if you are sued for damages or injuries that occur in your home or rental. Contact us to learn more about what insurance best suits your lifestyle and needs.

What is Condo and Co-op Insurance?

Condo and co-op insurance is similar to homeowners insurance, but is tailored toward people who own a condominium or cooperative apartment. Like homeowners insurance, condo and co-op insurance policies can provide coverage for personal belongings, as well as liability coverage if someone is injured in their unit or if they cause damage to someone else’s property.

In most cases, the owner of the condo or co-op is responsible for insuring their personal belongings and any improvements they have made to the unit. Every condo or co-op situation is different, however, and our team at Gotham is here to help find the policy that’s right for you.

What is Renters Insurance?

Renters insurance – which is, of course, for people who rent – covers the cost of replacing personal belongings, such as furniture, clothing, and electronics, if they are damaged, lost, or stolen due to covered events such as fire, theft, or vandalism.

Renters insurance can also provide liability coverage in case someone is injured while visiting your rented home or if you cause damage to someone else’s property. Renters insurance can also cover additional living expenses if you are temporarily displaced from your rented home due to a covered loss.

What is Homeowners Insurance?

Homeowners insurance provides financial protection for your home and personal property in case of damage or loss from covered events, such as fire, theft, and weather-related disasters. Homeowners insurance can also provide liability coverage in some instances, in case someone is injured on your property or if you cause damage to someone else’s property.

Each policy is different, but most cover the physical structure of your home – as well as your personal belongings – up to a certain limit. You can also choose to add optional coverage for specific items, such as jewelry, artwork, and other qualifying items.

How do I know how much insurance I need?

Determining how much insurance coverage you need can depend on various factors after you’ve calculated all your assets, risks, and budget. At Gotham, we can help you assess your insurance needs and find the right coverage for your specific situation.

How can I prove the value of my assets?

When counting up the value of your assets, you may want to conduct some research on the actual value of your assets. Saved receipts or bill statements may give you an idea of what you paid for your valuables, and online research may tell you the resale value of your belongings. If you have any questions about proving the value of the assets in your home or property, get in touch with one of our experienced agents today!

Who does my insurance policy cover?

When mapping out the details of your insurance policy, our agents may ask you to list all family members residing in your new property. Insurance policies typically cover any family member related to you by marriage, blood, or adoption living within your property. This means whomever you live with, spouse, parents, kids, they are indeed covered. If you live with a partner and are not married, and your partner’s name is not on any contracts for your new property, they may need to invest in their own insurance policy. If you’re curious about who is covered and how to include your family in your insurance policy, get in touch with us today!

What if I move?

Gotham makes it easy to transfer your apartment, condo or co-op, or homeowners insurance policy to a new residence when you move. If you are upgrading or downgrading in space and assets, or are moving from a rental to an owned residence, you may need a new policy. Get in touch with the experienced team at Gotham to get your insurance policy updated.

Keep in mind, when you move, it is also important to ensure your moving company is fully ensured as well in the case of any damages.

What if I sublet my rental?

Typically rental insurance policies operate under the assumption that the policyholder is the resident. Any changes in occupancy can void coverage and should be discussed with your broker.

What if I renovate my property?

Starting a renovation project on your home, condo/co-op, or investment property? Gotham can help match you to the best temporary insurance policy for your renovation. Whether you are doing the renovation yourself or hiring a professional company to do the work for you, we can help ensure you have the coverage you need. If working with a construction company for your renovations, be sure to ask for a copy of the company’s business liability or workers compensation insurance, and any other related licenses, to ensure you are working with a reputable company that is covered in the case of damages to your property.

Where can I make a claim?

If you need to make a claim on your insurance policy, you can visit the Claims page here. There, you will find instructions on how to report a claim, as well as contact information for the insurance companies we work with. Have any questions? Our team is available to provide support and guidance throughout the claims process.

How can I get an Insurance Quote?

Getting a quote has never been easier. To get an insurance quote, you can fill out the Request a Quote form here. This form will ask you for basic information about your insurance needs and contact information, so that we can get in touch with you to discuss your options. Contact us today to request a quote and learn more about how we can help you find the right insurance coverage for your needs and budget.

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