Co-op Insurance

Hi!!
I just happened to come across your post and wanted to let you know that coverage varies individually for every situation. If you'd like, I'd be more than happy to email you various quote options for your co-op. We've written insurance for a lot of people from this site at our agency (Curran Cooney Penny Agency, http://www.ccpinsurance.com). For further information, please email me at patti@ccpinsurance.com. Thanks!
Patti Wittkowski

Posted by: guest at September 10, 2007 1:47 PM

In a co-op, the co-op itself insures the walls and any improvements. If there were to be a fire, it would be the co-ops responsibility to restore your apartment to its previous condition--walls, floors, kitchen, etc. Your job is to provide liability coverage if someone slips and falls and to cover your personal belongings--furniture, clothes, jewelery, electronic equipment. This is essentially similar to renters insurance as all you are really insuring is the contents. So you probably need the $1 million personal liability and then an amount that will cover your personal belongings. So unless you have some really fabulous personal belongings, those liability amounts sound very high.

In a condo, you insure your personal belongings and any improvements such as kitchen cabinets, appliances and the like. The condo would restore the shell but your insurance would pay to replicate your kitchen, built-in book shelves and the like.

And of course with a house you insure everything.

Find someone to explain the what kind of insurance a co-op owner needs before you get taken advantage of!

good luck

Posted by: guest at September 10, 2007 3:43 PM