Gotham Brokerage can help you find the insurance coverage that’s best for you
Manhattan after dark. Photo courtesy of Radhika Bhagwat on Flickr.
If you’ve first discovered Gotham Brokerage by searching for “homeowners insurance NY,” then we’re glad that you decided to shop around.
It’s important to get the coverage that will keep you financially secure, no matter what, and to get it for the best possible price.
Gotham Brokerage is a family-owned business that’s been helping New Yorkers for more than 50 years. In a city as competitive as ours, we think that longevity speaks to how good we are at doing our job — which is to help you find the insurance that will meet your needs.
As you shop around, here are some things you should keep in mind:
Know what coverage you need
There are several different types of homeowners policies. Some cover basic hazards, such as fire, but not damage caused by leaky plumbing or frozen pipes. Others cover nearly everything. Different forms of coverage also pay out different amounts in the event that you have a claim.
“Actual cash value” coverage, for instance, might only pay off the amount you owe on your property, or its depreciated value, while “replacement value” coverage would generally pay for a rebuild. Even “replacement value” can get tricky, though, depending on how your policy defines “replacement.”
Different policies carry wildly different costs, so it pays to shop around. It also pays to ask the right questions. There are a multitude of ways to lower monthly premiums — having deadbolts to keep out intruders, for instance, can earn a discount from some insurers.
Know what covers what
Homeowners insurance is great, but there are plenty of options for people who are living in apartments, condos and co-ops, too.
Renter’s insurance can offer excellent protection for as little as $10 to $20 a month, and more and more landlords are requiring tenants to carry it.
Condo and co-op insurance, meanwhile, is important in order to cover your personal belongings — and your personal unit. The monthly fee that you pay to your condo or co-op association will cover reconstruction of your building, and a basic rebuild of your unit, but it won’t cover upgrades that you may have installed like premium flooring and countertops or stylish fixtures. Sometimes, they won’t even cover the cost of rewiring your unit. This is where your individual policy kicks in — and it illustrates why it’s important to know what you need to cover, so you don’t suffer a loss.
At the same time, though, you don’t need to be paying extra for coverage that you don’t need.
It can get complicated – which is why we are here to help. Like we said, we’ve got 50 years of experience helping people navigate the world of New York insurance, and an A+ rating from the Better Business Bureau to back up our work. Give us a call or visit www.gothambrokerage.com for more information.
