Why the Best Renters Insurance in NYC Includes Liability Coverage

Gotham Brokerage will make sure you get the best renters insurance in NYC, whatever your needs

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Photo by Glyn Lowe Photoworks / Flickr Creative Commons

Renters insurance is often overlooked, especially by new renters. If your new friend from grad school pays a visit and slips on your wet kitchen floor, you will be happy that you didn’t overlook the one expense that could save you from financial ruin. For less than a dollar a day — about $200 annually — you can insure almost all of the contents in your apartment up to about $20,000, and you can protect yourself from liability if someone gets hurt on your property.

Renters insurance will replace your belongings in the event of an insured loss such as a fire, theft or certain storm damage. There will still be some exclusions, such as jewelry, furs, silverware and other certain classes of property. Gotham Brokerage Co. Inc., which can find you the best renters insurance in NYC, can help you fully understand your policy as well as your liability coverage. This is what protects you from having to pay out potentially hundreds or even thousands of dollars in medical care to a person injured inside your apartment.

If the injured party sued, you could be held responsible for not only your legal bills but also medical care for the injured person. A good renters policy provides a set dollar amount of liability protection. In the event someone gets hurt inside your apartment, your renters insurance policy could cover the cost of the injured person’s medical bills and your legal expenses up to your insured amount.

Read your renters insurance policy carefully to make sure your policy provides liability protection. A Gotham professional can fully explain what your policy covers. Discuss with your broker the limitations on your policy to determine the dollar amount of coverage you need both for liability coverage and replacement costs for your belongings.

Gotham Brokerage, a family-run business in New York City for more than 50 years, can match you up with the right agent. Give us a call at 212.406.7300 or fill out the form at right.

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