Make Sure Your NYC Coop Insurance Will Cover You for Hurricane Season

Hurricane Sandy showed everyone why NYC coop insurance is a necessity

Photo by Andre-Pierre du Plessis / Flickr Creative Commons

With the scientists at the National Oceanic and Atmospheric Administration predicting an active to extremely active Atlantic hurricane season this year, you should definitely invest in a NYC coop insurance policy. For as little as $230 to $275 annually, you can protect your priciest investment — your home.

As forecasters nationwide warned residents along the east coast to brace for Hurricane Sandy last year, no one could foresee the level of destruction that would be wreaked by the storm. The worst that many people had to contend with was a loss of a power. But others weren’t so fortunate. The country watched in amazement as the wall of a Manhattan apartment building crumbled to the ground. Along the Jersey shore, families lost everything they owned.

Those unpredictable times are why insurance is a necessity, not a luxury. Insurance for your coop will protect your living space as well as all of your creature comforts, from your plasma screen television to your favorite down comforter. As you tally up how much insurance you will need, there are a few things to consider.

First, your building’s master insurance policy determines what you are responsible for replacing in the event of an insured loss. Policies differ from one building to another. Some master policies are bare-walls policies that cover the real property from the exterior framing inward but nothing inside individual units. Other policies are more comprehensive and cover items such as fixtures and cabinetry. Gotham Brokerage can help you quickly figure out how the policy applies to you. Second, take a room-by-room inventory of your belongings and figure out how much it would cost to replace everything that you own. Third, some high-dollar items such as jewelry and furs could require a separate personal articles policy to receive a total replacement reimbursement if they are lost.

Weather forecasters are predicting that for the six-month hurricane season that began June 1, there is a 70% chance of 13-20 named storms with winds greater than 39 mph or higher, and of those, seven to 11 could become hurricanes with winds of 74 mph or higher. This number is higher than the typical average of 12 named storms producing six hurricanes in a season. That means your home is at a greater risk this year than in years past. Don’t get caught in a storm without asset protection.

An expert at Gotham Brokerage can guide you in determining your needs. Let Gotham Brokerage, a family-run business in New York City for more than 50 years, find the right insurance policy. Give us a call at [telnumlink]212-406-7300[/telnumlink] or fill out the form at right.


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