Co-op Insurance Information
Co-op Insurance for personal possessions.
Your wardrobe, furniture, household goods, computer, and other personal items are insured if they are damaged by fire, stolen from your home, or damaged by other insured perils. You choose a limit of insurance that matches the value of your belongings. Ask yourself, if all my stuff is damaged in a fire how much would it cost to replace it all. Taking inventory of your possessions is a good way to determine the amount of insurance you need. Purchase optional off-premises theft coverage to insure your belongings anywhere in the world.
Expensive items including jewelry, art, engagement rings, etc, are insured, but they may be subject to seperate limits if they are stolen. To insure these and other expensive items to their full value you can add these types of items to your policy separately.
Our friendly agents can help determine the proper amount of co-op insurance to purchase.
Insurance for the structural parts of your co-op.
It is important to purchase enough insurance so that you can rebuild or repair the inside of your co-op should you suffer a covered total loss, for example, a fire. It’s important to know which parts of your co-op, if any, are covered by the master policy of the building. Generally, upgrades or alterations to the unit by you or a former owner should be insured by your coop policy. When considering the amount of coop insurance to purchase make sure to include the cost of upgraded kitchens and bathrooms, custom paint and flooring, built-ins and partitions, etc. Our agents can help you determine the correct amount of insurance to properly protect your co-op.
Co-op Liability insurance.
Liability insurance covers you against lawsuits for property damage or bodily injury that you or resident family members are legally responsible for. If a guest were to slip and fall, or you let your tub overflow and damage the apartments below you, the liability portion of your co-op insurance policy may be able to cover you for these losses. Co-op Liability insurance will pay for the cost of defending you in court and pay awards up to the limit of your policy. It does not provide liability protection for lawsuits arising from the use of motor vehicles, business lawsuits and certain other types of losses.
Co-op liability insurance limits range from 300,000 to 1,000,000 and in many cases much higher limits. Our agents can help you determine the proper limit of liability insurance you should purchase.
Additional Living expense Loss of use.
If a storm, fire, or other insured loss damages your co-op and you can’t live in it while it is being repaired, additional living expense insurance pays the added cost of living away from home. It will pay for hotel bills/temporary living arrangements, meals, and other extra living expenses incurred while your home is being rebuilt
What am I covered for?
- Fire
- Smoke
- Lightning
- Theft
- Vandalism / Riot
- Wind & Hail
- Freezing of plumbing or heating systems
- Water damage from rupture of water or steam heating systems
- And much more
Contact
By Telephone:
PH: 212.799.7500By Mail:
Insure NYC Brokerage Inc.33 W 60th St 2nd FL
New York NY 10023
Co-op Insurance Quote