Did You Know Apartment Insurance Covers These Four Things?

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Created By Brownstoner

If you own it, it’s probably covered, but there are some things that are covered by apartment insurance that you might not be aware of.

1. Your roommates

All residents related by marriage, blood, or adoption are automatically covered by a single insurance policy.  But did you know that your renters insurance will cover your roommate’s belongings — if you specifically list them on your policy. In fact, up to two unrelated people can be listed on a single policy (Tip: they should be close friends, not someone you just met).

2. A bike stolen outside of the apartment

Renters insurance can cover personal property both on and off the premises. For an extra $45 a year, if your personal property is damaged or destroyed due to a named peril, you’re in the clear — and theft is generally a named peril.

3. A lawsuit

Liability protection is standard with most renters insurance policies. If you let your tub overflow and it floods your neighbor’s apartment downstairs, your policy pays out for any damage incurred.

4. Hotel or other living arrangements in case of a covered loss

Most renters insurance policies cover temporary relocation expenses after a covered event (a fire in the kitchen, for example). It means you’ll always have a place to crash — and extra costs like food purchases and laundry can be covered too.

Contact Gotham Brokerage, a local, super service-oriented brokerage that will find the right apartment insurance to meet your needs. You’ll be in excellent hands — they are New York City’s number one apartment insurance broker and have been at it for over 50 years.

And they can give you a free quote in minutes. Just fill out the quick form, give them a call at +1 (212) 406-7300 or shoot them an email at info@gothambrokerage.com.

[Photos via Unsplash]