Now that you have secured a Brownstone home, it is time to set your sights on obtaining insurance. Despite the expense of your recent endeavor and all of the associated complications, it was probably a much easier experience than that of selecting the right insurance to protect your investment. In this guide, you will be presented with a few essential questions that you should ask prior to committing to an insurance policy. These questions will help in saving your time on your search, money on your policy, and will ensure that you have the most comprehensive coverage on your Brownstone.
- What Does the Policy Cover?
This should be the very first question that you ask. There are – essentially – three distinct coverage types. These include the contents of your Brownstone, the structure, and personal liability. You should know what deductibles are available, the extent of the coverage you want and need, as well as coverage for any accidents incurred by others while on your property.
- Are There Any Special Requirements for Insurance?
Brownstones are historical buildings and are often governed by tight-reigning homeowner associations. There may be special requirements – in terms of insurance. If you have a mortgage on the building, your lender may also have special requirements. You should find out what these are prior to contacting an insurance company. Once you do make contact, be certain that they have modified Brownstone programs that offer that special coverage.
- Is There Coverage for Temporary Housing?
In most instances, Brownstone homes will require a little work or renovation before you can move in; in other instances, you may be able to move in, but work will be required at a later date. You should see if the insurance company offers special coverage for temporary housing should you have to relocate for one reason or another. Make sure you know which instances cover this temporary housing. In some instances, it may only be offered for emergency situations. In others, it may be offered for all instances that are deemed “necessary”. Clarify this before committing to the coverage.
General Information on Brownstone Programs
Brownstone Programs are offered specifically for Brownstone homes in New York. Coverages and the premiums that you pay will vary. For the most competitive and comprehensive coverage, we here at Modica Insurance can help! We have the most experience with Brownstones than any other Broker in or around Brooklyn. We cover those that require work, as well as fully restored units. Features and options that you may choose from include – but are not limited to – the following:
- An “All Risk” Policy
- Rebuild Endorsements for Going Green
- Business Income
- Improvements
- Personal Content Coverage
- Damage from Water
- Electronic Equipment Coverage
- Legal Liability
- Medical Payments
- Umbrella Limits
- And, More!
If you have a Brownstone building, it is time for coverage – not only to protect your new investment, but also to protect you. You may contact one of our qualified and experienced agents today to learn more: 718-855-1836