Gotham Brokerage can locate the best NYC renters insurance, a must-have in the city, at reasonable price
Apartment building in the Morningside Heights neighborhood of Manhattan
How much would you say you spend every month on coffee?
Twenty dollars? Thirty?
How about eating out, or drinks?
We all spend lots of money on stuff we don’t really need and tend to skimp on things worth far, far more — like renters insurance.
Even in New York City, with rents starting at more than $2,000 per month even for a studio apartment, renters insurance is surprisingly affordable — often as little as $10 to $20 per month. Considering what that buys, it’s astounding how few renters make this easy but essential expense — only 43 percent of the nation’s renters own rental insurance, according to an Insurance Research Council poll.
When you buy renters insurance for personal property, you’re protected against losses from fire, smoke, lightning, vandalism, theft, explosions and windstorms, and they also generally cover additional living expenses if they have to temporarily relocate because of a covered disaster. Policyholders always have the option of purchasing flood or earthquake insurance or a floater to protect expensive items such as jewelry or furs.
Liability coverage protects you from expenses related to accidents at your rental home — such as a non-family member tripping and breaking an ankle, something you could be held liable for, or water damage from an overflow.
Of course, prices hinge on such variables as neighborhood, building age, claim history and deductible amount. The point is that a minimal monthly expense can buy thousands of dollars in coverage, and something even more important: peace of mind.
Ivey Apartments in Manhattan, photo by 'Americasroof' via Wikimedia Commons.
Renters insurance is something you shouldn’t go without in New York City — and Gotham Brokerage, as a firm with more than a half-century of experience tailoring customers’ home insurance policies, can help find the most reasonable prices.
As a brokerage rather than an agency, we can pick and choose from a variety of underwriters to provide our customers with the best and most affordable policies. We offer only replacement-value policies, too, ensuring that in the event of loss or damage, you’d be reimbursed for the full, as-new price of your insured items (as opposed to cash-value policies, which factor in depreciation and pay out less for claims).
In an apartment-heavy city like New York, with multiple aging buildings, it’s critical to have a quality renters insurance policy covering your personal items. Check out Gotham Brokerage’s website at gothambrokerage.com and email or call us for a free quote!
