502 Gravesend Neck Road
Brooklyn, NY 11223
After years of planning and saving, you’ve finally purchased your dream condo. Your purchase isn’t complete until you have insurance protection from Access Legacy Insurance Group. Your association’s master insurance policy is designed to protect the exterior of your building and common areas. You’re responsible for the protection of your unit and belongings. As a new condo owner, here’s what you should know about condo insurance.
Condo insurance offers you a variety of options in protecting your new condo. These include:
Dwelling Coverage – protects the interior of your condo ranging from walls, cabinets, and floors to light fixtures, built-in appliances, and other structures that originally came with your condo. If you’ve added structures like built-in shelves or bookcases or made other renovations to your condo, you’ll need to add these to your policy if you want them protected under your dwelling coverage.
Property Coverage – protects your belongings, i.e. your furniture, electronics, artwork, clothing, and other personal items. Standard condo policies have limits on property coverage. If you have high-end goods or rare collections of great value, you may need to add an endorsement to your condo policy to fully protect these items.
Liability Coverage – protects you against visitors having accidents on your property by covering their medical and property damage costs.
Additional Living Expenses Coverage – helps compensate you for living expenses elsewhere if you have to vacate your condo temporarily due to disaster damage.
Like home insurance, standard condo policies protect you against such perils as theft, fire, vandalism, and severe weather damage. For protection against, flooding, you’ll need to purchase a separate flood insurance policy. As New York is prone to flooding, you'd do well to consider flood coverage.
Condo insurance takes the worry out of condo ownership so you can enjoy your home to the full. As many states are prone to flooding, you'd do well to consider flood coverage.
Even if you don’t own your home, you probably have a number of items that would be expensive to replace in case of an expected event. If you rent an apartment, condominium, or home, you can avoid the expense of replacing important items by acquiring renter's insurance. At Access Legacy Insurance Group, we can provide renters insurance in the state of New York.
Many individuals who rent property believe that the insurance carried by the landlord covers their own personal items. Unfortunately, this is not the case, and when fire, theft, or vandalism occurs, they may incur losses that can eat into their savings or cause increased indebtedness. Renters insurance provides coverage for your personal property when you are renting so that you can avoid significant financial loss.
Insurance can help to cover the cost of replacement of valuable items, such as clothing, electronics, artwork, and other goods. You may keep special items in your apartment or condo that are worth a significant amount of money and cannot be easily replaced. Renters insurance also provides coverage for medical costs if someone is hurt while in your apartment, as well as covering “alternate lodging” if you cannot live in your space for a period of time. This additional protection can protect you from significant financial expenses if an unexpected event occurs.
The insurance professionals at Access Legacy Insurance Group can provide detailed information on renter’s insurance for residents of New York, New Jersey, and Florida. We offer a broad range of insurance products for your needs, including home, auto, RV, life, and commercial coverage. Contact Access Legacy Insurance Group today for a free, no-obligation quote on renter’s insurance to protect against expensive losses.
While our offices are located in Brooklyn, NY & Toms River, NJ, we serve clients all across New York, New Jersey, and Florida.