Micro-Insurance For Your Micro-Apartment

NYC apartments may not be cheap, but NYC insurance isSmurfs Gotham

A smurf home at the Ankara Amusement Park in Turkey. No word on whether this design has been entered into the New York City “micro-apartment” design contest. (Photo courtesy of Nevit Dilmen via Wikimedia Commons)


Mayor Michael Bloomberg hopes to boost affordable housing for single New Yorkers by challenging designers to come up with 275- to 300-square-foot “micro-apartments.”

Kudos to the mayor. A tight rental market has led to soaring rents in New York City, with the average studio apartment now costing more than $2,000 a month according to Citi-Habitats. Bloomberg’s micro-apartments will, in theory, cost less.

Fortunately, not everything about New York City real estate in expensive. Insurance is actually quite affordable — $10 to $20 a month for a basic renter’s insurance policy.

You might not need more than a basic policy for a teensy-tiny unit. Subtract about 75 square feet from the unit size to account for a small kitchen, bathroom and closet, and you’re suddenly down to 200 square feet for bedroom, living room and dining area. I look forward to seeing what New York’s top Tetris-masters can dream up in order to make a welcoming apartment out of such a tiny space.

Balancing the needs of a resident is something I can relate to. For 50 years, my family-owned business has been helping New Yorkers figure out what they need in an insurance policy. Gotham Brokerage has an A+ rating from the Better Business Bureau, and we earned it by paying close attention to our clients so that we can tailor a policy that fits them perfectly. Our aim is to offer complete coverage for the lowest possible price. We’re able to do that because we work with multiple insurers to obtain competitive pricing and we know which questions to keep you from overpaying for insurance that you don’t really need.

If you’re in a 275-square-foot unit, you might not need much. Then again, we shouldn’t be presumptuous. Maybe you inherited your grandmother’s jewelry or silverware. Maybe you’ve got a baseball signed by Mickey Mantle. Maybe you have a collection of rare plastic smurfs. We’ll ask about your collections and your electronics, whether your wardrobe is more Boho chic, runway-worthy, or Chez Target. We’ll adjust your policy to ensure that you can afford to replace your belongings, no matter how expensive or kitschy.

After 50 years in business, we’ve seen just about everything. Don’t believe us? Try to stump us by giving us a call at 212-406-7300.

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