In the simplest sense, everybody who owns property needs property insurance. This could include a free-standing home, condo, co-op, or apartment in New York City. Renters’ insurance falls under this, and will protect people who rent from financial disaster when it comes to their personal property.
New York Homeowners Insurance
Owning a home in New York is a huge investment of time, money and energy. Without insurance, you, your family, your home, and your money are incredibly vulnerable to a variety of risks that could wipe out your investments and assets. HCP’s network of top indemnity companies has policies designed to protect you.
How home insurance in New York protects you
When your belongings, home, or lifestyle are damaged or destroyed, insurance is meant to help you put your life back together with as little disruption as possible. If your policy covers the incident, then you file a claim and receive funds to repair, replace, or recover what was lost. Call HCP for more information about rates on homeowners insurance in Long Island, NY or anywhere in the NYC area.
What is homeowners insurance?
Homeowners insurance, despite its name, is not limited to people who own their home — to better illustrate this, it’s sometimes referred to as Property Insurance. Anyone who owns property, whether that’s a free-standing home, a condo, or a co-op, or renting an apartment in New York City or State, should have one of these three:
Homeowners’ insurance
Your entire home, inside and out, including other structures on your property, may be protected. Supplemental coverages are recommended for special structures, secondary housing, or high-value personal items.
Condo/co-op insurance
Protections for everything from the “walls in” but not common property depending on your proprietary lease. However, it will protect you if you cause damage to property belonging to other residents, including unintentional injuries. HCP can help you find condo insurance in NY.
Renters’ insurance
Renters’ insurance keeps your belongings covered. It can also include liability coverage and off-premises coverage. With the number of renters in NYC, it makes a lot of sense to look into renters coverage.
What does a homeowners policy cover?
There is a lot that can go wrong in a home, whether caused by internal or external factors. When shopping around for home insurance in NY, you’ll want to make sure your policy comes with the typical homeowners coverages, as well as some additional coverages.
These are the basics of most home insurance policies offered by our network of indemnity companies:
Personal liability
If somebody is injured on your property (including from a pet), you may be responsible for the costs associated with your legal defense and their medical needs. Personal liability coverage can protect against these potential expenses.
Contents
Contents insurance protects your possessions against damage, theft, and/or vandalism. Generally, everything in your home could be covered, including clothing, furniture, and hobby items such as books, video games, or other equipment.
Dwelling
Dwelling coverage protects the physical structure of your home, including the walls, roof, and foundation, against covered perils such as fire, windstorm, or vandalism. It can help pay for repairs or rebuilding in case of damage.
Frequently asked questions about homeowners insurance
There are many types of claims that your home insurance will cover in NYC and across the state. Some of the most common claims made in New York include residential structure fires, dog bites, weather damage (wind, hail, water damage/freezing, fire, lightning), theft, and vandalism.
With HCP, you can get a home insurance quote for New York home insurance by phone or online. It’s quick, easy, and will give you an idea of what you’ll be covered for and how much you can expect to pay depending on some questions about your property.
Owning a home without coverage is like going outside without an umbrella; it may not be a problem right now, but if it rains, you’re going to get wet. Likewise, if you forego coverage, it may save you some money in the short term, but if something happens to your home or property in NYC, it’s going to cost you. Getting homeowners insurance is the best way to ensure that natural disasters, fires, and other issues don’t result in you being responsible for expensive repairs or even losing your home.
While your coverage is intended to compensate you for damage to your home and personal property, there are some exceptions that most policies do not cover. These include:
- Flood damage
- Earthquake damage
- Maintenance
- Damage from pests
- Liabilities to a business you operate out of your house
- Mold damage
- High-value items (coverage for personal property is usually capped)
- Damage to your land, walkways, driveways, and landscaping
If you want coverage for these items, many companies offer separate policies that will cover you for floods, termite damage, mold damage, and more. You can also separately insure any high-value items like jewelry to be covered for their value if it is more than your policy’s cap for personal property. If you want to cover liability and other risks for a business you operate out of your house, we can help you find a policy that will cover you for that as well.
Although you are not required to have coverage by law in New York State, if you have a mortgage on your home, your lender will likely require you to maintain a policy to protect their financial interest in your loan. And even though you are not legally required to have coverage in New York City and other Empire State communities, going without is not the best idea. A strong storm or a fire could come without warning, and if you aren’t covered, you could be paying thousands of dollars out of pocket for repairs or to replace your valuable property.
The amount of coverage you need depends on many factors, including the size of your home, its location, and the value of your personal property. The best way to find out how much coverage will be adequate for your needs is to speak with an agent like the ones at HCP. A member of our team will be happy to discuss policy options and give you a quote for the best rates in your area.
We hope you never experience damage to your home or property, but if you do, it’s as simple as calling your agent and making a claim. Companies like HCP want to make it easy for you to pick up the pieces, so we make our claims process simple for you. Once you make your claim and pay your deductible, we will take care of the rest.
Here’s how HCP Insurance can get you covered
In 6 simple steps, you can have all the assets you’ve worked hard to acquire fully protected.
- Fill out an intake form to give us an idea of your coverage needs so we can put together a quote for you
- If we have any questions, we’ll follow up
- We’ll start researching the best options for your custom policy
- Once our research is complete, we’ll share the best options for your individualized needs
- You ask our trusted advisors any questions about the policies you may have
- Once you make your decision, we’ll get your coverage started immediately
All of these steps can usually be taken care of the same business day you reach out. If it’s outside business hours, we’re going to jump on this as soon as we can. You’ll get an email confirmation right after Step 1 is complete — always.
Get a Homeowners Insurance Quote Today!
The investment you have made in owning a house is too valuable to risk it by going without coverage. The team at HCP is here to help you find the right coverage for your needs and your budget. Call us right away to find out more about coverage options and rates, or to get a quote for your house in New York.
We can also assist you with a range of other coverage types, so call us about getting a quote on renters insurance in NY or any other policy you need to protect yourself and your possessions.
Protect your most valuable asset
More than a broker, HCP Insurance is a resource and an advocate for your interests. Every individual faces unique risks, so we’ll dig deep and offer suggestions on how to protect what’s important to you.
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