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What are the Odds?

Posted on March 27, 2014

A look at why NYC apartment, condo or co-op insurance is your best bet

Gotham Brokerage can't help you with movie star insurance, but we can help you find apartment, condo or co-op insurance. Photo by Oreos / Wikimedia Creative Commons

Gotham Brokerage can’t help you with movie star insurance, but we can help you find apartment, condo or co-op insurance. Photo by Oreos / Wikimedia Creative Commons

Like it or not, the odds of winning the Powerball are about 1 in 175 million. Your chances of becoming a movie star are better, about 1 in 1.5 million. And the likelihood your home will be burglarized while you’re at work? About 1 in 36. The odds are even higher in New York City, which has more property crimes than any other city in the U.S. Yikes. If you don’t like those odds, Gotham Brokerage can help. While we can’t do anything about your film career or lottery winnings, we can help you find the right NYC apartment, condo or co-op insurance to protect you from losses due to theft.

On average, burglars hit one in every 36 homes in the U.S., making off with about $1,675 per break-in, according to data from the FBI 2012 crime report. And some 65% of home burglaries happen between 6 a.m. and 6 p.m. These unpleasant stats, published on the website asecurelife.com, show how important it is to secure your belongings with a strong apartment or condo insurance policy.

Gotham Brokerage can help you find an insurance policy for far less than you might realize. For a basic replacement policy that will cover most of the contents of a smaller apartment — electronics, handbags and more — you’ll pay around $11 to $22 a month. There are limits on some items, including furs, jewelry and silverware, but a Gotham professional can review the fine points with you to make sure you’ve got adequate coverage.

If you come home to find crime scene tape in front of your door, it would be nice to know your losses are covered. Photo by Alan Cleaver / Flickr Creative Commons

If you come home to find crime scene tape in front of your door, it would be nice to know your losses are covered. Photo by Alan Cleaver / Flickr Creative Commons

That’s not a lot to pay for peace of mind, whether you’re worried about the Staten Island clown or a garden-variety lawbreaker. More people find themselves victims of crime than you might expect, especially in New York City, which ranked No. 1 among U.S. cities for highest incidence of property crime, according to the FBI and the National Burglar & Fire Alarm Association.

An apartment, condo or co-op policy will cover not only stolen property, it also will provide protection for damage caused by flooding, storms or accidents. Gotham can review a copy of your condo association’s master policy to determine exactly what you’re responsible for in the event of loss or damages.

Gotham, a family-run business in New York City for more than 50 years, can match you up with the right agent for the best NYC apartment, condo or co-op insurance. For more information, give us a call at 212-406-7300, or fill out the form at right.

Gotham Brokerage Co., Inc. is a family run insurance brokerage serving New Yorkers for over 50 years. We specialize in the insurance needs for those living in the city and provide a full range of insurance products designed specifically for the city.