You’ve likely acquired more stuff since you first got your policy. Make sure it’s all covered
Protect your new stuff — and old stuff, too — before an untimely disaster shows up on your doorstep. (Photo courtesy of Beyond My Ken, via Wikimedia Commons)
The holidays are over, and you’ve settled in to enjoy the loot, maybe something nice like jewelry, a flat-screen TV or an iPad. Or perhaps you’ve added to your apartment or condominium — a ceiling fan, new furniture, maybe some stainless steel appliances. So it might be time to adjust your renters insurance policy to cover your new stuff.
It’s a pretty common mistake: People take out a renter’s policy for a limited amount when they’re on tight budgets. Over time, they forget about it, even as they acquire more goods and improve their apartments.
Then a fire breaks out, a water pipe breaks or someone breaks in. Or your city is nearly flattened by a catastrophic hurricane.
When Superstorm Sandy crashed into the Eastern Seaboard last fall, a lot of people realized they were underinsured against storm damage to their homes. We don’t like to think about that, but isn’t that why we have insurance?
So plan wisely. Update your renters insurance policy as your circumstances change; the more valuables you have, the more coverage you’ll need.
Luckily, additional coverage is not that expensive, even in the Tri-state area. When you talk to your agent, ask whether items are covered on a replacement cost or a depreciated value basis. Replacement cost policies are the only kind Gotham Brokerage offers because people who’ve lost their items in a disaster want them fully replaced and new. Dealing with the crisis is hard enough without having to recoup only a fraction of what you’ve lost.
Gotham Brokerage, a family-owned company, has been helping people in the New York City area find great insurance policies for more than 50 years. Let us help you, too, by matching you with an insurance company that best suits your needs. Give us a call at [telnumlink]212-406-7300[/telnumlink] to get started.
