Renters Insurance Coverage Helps Keep Your Apartment Safe!

So you just moved into your brand new apartment in Brooklyn? You have probably spent a couple hundred dollars moving in your expensive televisions, musical instruments, sports equipment, artwork, and much more. In the case of a fire, natural disaster, or theft, you could be out thousands of dollars if you do not have renters insurance coverage! Although your landlord is responsible for any and all damages that may occur to the building, it is your responsibility to keep your personal possessions safe from harm.

Not only will renters insurance protect your personal assets, but many plans will also cover your additional living expenses in the event that your apartment becomes uninhabitable. Furthermore, renters insurance protects you from any injuries that you or your guests may experience while on your property. If you throw a lot of dangerous Brooklyn rooftop parties, renters insurance takes all of the legal responsibility that may occur in the event of an accident or serious injury. Without renters insurance, you’re held financially responsible for the safety of your guests.

Additionally, any damage or injury that occurs from your household pet will easily be covered by renters insurance. If your pitbull acts up around new guests, it’s probably a good idea to get some rental coverage. Not only will it save you money in future, but it will make you feel more comfortable in your new Brooklyn apartment!

Insurance Terms 101

new york renters insurance

New York City life is crazy enough as it is, without confusion when it comes to New York renters insurance. The insurance lexicon is vast and can prove overwhelming for those unfamiliar with its various terms, clauses and definitions. That’s why we’ve gathered together all the essential information you need to know in order to make informed decisions when considering policies, premiums and everything in between.

If you’re looking for an introduction to the topic of insurance, make sure you pore over our Insurance FAQ, which provides extensive information on everything from condo insurance to auto insurance. On the other hand, if you’re generally au fait with insurance but searching for an explanation of a particular term, our Insurance and Homebuyers Glossaries are the only resources you’ll need.

Here are some of the top insurance terms you may have heard, but may not quite fully understand:

Indemnity: Benefits of a predetermined amount paid for a loss.

Consideration Clause: Stipulation that states the basis on which an insurer issues an insurance contract.

Utmost Good Faith: The Insured and the Insurer are bound by a good faith of honesty and fairness; all material facts must be disclosed.

Mitigation: In the case of any loss or casualty, the asset owner must attempt to keep loss to a minimum, as if the asset was not insured.

How to Make a Claim on your Condo Insurance

condo insuranceMaking a claim on your condo insurance may at first seem a little daunting. What are the specifics of the procedure? What documents are required? Who exactly must be approached? We’ve gathered together some pointers that will hopefully put your mind at ease.

If an accident or some other mishap has occurred in your condo, you should contact your condo insurance provider immediately. Bear in mind that you should know the following before making the call:

  • When the incident occurred
  • What exactly happened
  • The location of the property damage and what was damaged
  • If your home is still livable
  • What repairs, if any, are required
  • If you contacted the police or fire department in response to the situation (and the police report number, if so)
  • Your contact information and the best time to reach you
Where repairs are needed, the insured can either use their preferred contractor or have their insurance provider recommend a contractor capable of making the repairs. The deductible will usually then be paid to the contractor/company who repairs the damage.
Once you have made your claim, the insurance payment will follow. If you have a mortgage on your condo, your insurance company may pay you and your mortgage lender up to the limit of your policy. In such a case as where an advance payment was made, this advance payment will be applied to the total payout. Also, your deductible and any applicable depreciation will be deducted from the final payout.

Shield Yourself from the Cold with New York Renters and Home Insurance

There is nothing like the harsh winds and plummeting temperatures of winter to make you appreciate the warmth and comfort of your own home. But what would you do if you were left out in the cold, literally? Kenneth Bieber has you covered, offering not only home insurance for homeowners but also New York renters insurance.

If Hurricane Sandy taught us New Yorkers anything, it is not to take the safety of your residence and security of your valuables for granted. Dangers which seem unlikely and distant can all too suddenly become a harsh reality. Ensure you shield yourself from the consequences of future unfortunate weather occurrences with New York renters insurance that covers not only temporary housing and liability protection, but also expenses in the event of damages in need of repair.

Eager to get a quote? Then look no further than our secure online quote calculation service, which offers you the opportunity to get a quote without leaving the comfort of your own home, and sparing you the hassle of phone calls. And did we mention we are based in Manhattan? That means we are always on the lookout for you, your family, and your prized possessions–in contrast to giant firms with a sprawling national scope.