New York Times: Renters are 50% More Likely to be Burglarized than Homeowners

More than 60% of Renters in NYC uninsured and at risk

People and property are much safer in New York City than they used to be, but renters are 50 percent more likely than homeowners to be burglarized, according to the Insurance Information Institute in Manhattan as reported in the New York Times.

Sixty to eighty percent of renters don’t have renter’s insurance coverage for their belongings.

Renters are not typically covered by their landlord’s insurance policy. Many renters don’t know this, and some that do opt to roll the dice that all will be well. Others have never been insured and simply don’t know how inexpensive renters’ policies are and some don’t think their belongings are valuable.

These days, the costs of a quick break-in can add up quickly: that shiny new iPhone4, your new MacBook Pro, the 52″ HDTV and your fabulous collection of Jimmy Choo pumps and sandals can easily add up to $25,000 to $50,000 or more. You might be surprised at just how valuable your belongings are.

Replacing your valuable goods is not the only reason to have a renter’s insurance policy: if a fire makes your apartment uninhabitable, your renter’s policy defrays the cost of another place for you to live. If you leave your sink running and it floods the apartment below you, your policy will cover the costs not to mention liability claims by guests injured in your apartment.

Disaster doesn’t discriminate. Yet while most owners of homes, condos and coops would sooner give up Thai takeout than let their insurance lapse, a shocking number of renters don’t even consider coverage.

A renter’s insurance policy is among the least expensive policies you’ll ever purchase; fill out the form on this page to see just how reasonable it is.

Playing the odds is ill-advised because the game is always stacked against the gambler. Living in New York City is fabulous but statistically, you are more likely to have a theft. Getting a basic renter’s insurance policy is a sure bet to make sure your belongings are covered.

At Gotham Brokerage Co., Inc., we’ve served New Yorkers for over fifty years and we know the city. Want honest advice, competitive pricing and personal customer service? Give us a call at the number above or fill out the form on the right.

It may just be the best decision you’ve ever made.

Jeff Schneider, President
Gotham Brokerage Co., Inc.
212.406.7300
info@gothambrokerage.com