With landlords and homeowners offering concessions and giving huge discounts — between 10% and 20% — now is the best time for first-time buyers and renters
New Yorkers looking for more elbow room have entered the co-op and condo market in droves, which puts home insurance needs top of mind.
Unlike car insurance, New York State doesn’t require that you insure your home. But, your mortgage lender will think differently.
If you have an accident now, it can be more costly than usual thanks to longer response times for leaks and damage.
"They were able to get me substantially more coverage for a much lower deductible while saving me $200 a year on my premium," wrote Kate D.
If your building is old, your apartment is threatened by old pipes as well as by your renovating neighbors.
Spouses and domestic partners are covered automatically -- which is good news if your partner has better credit than you.
A broker with local knowledge can help translate the requirements of co-op boards and condo boards, which can vary.
Insurance rates are based on rebuilding or replacement cost, not market value.
Some insurers will not cover you if you have certain "bad reputation" dog breeds.