Key Factors That Should Be Considered When Buying Insurance Coverage for Your Brownstone Home

Brownstone homes are quickly gaining an immense amount of popularity among individuals that have a desire to purchase an historically-significant building and also have an appreciation for exceptional and even completely exquisite craftsmanship.

To own a brownstone is to hold a high level of prestige. Once you have committed to a purchase of a brownstone, it is time to shop for insurance coverage. In this brief guide, you will be introduced to a few key factors that you must consider prior to committing to a policy.

Coverage Details

When purchasing brownstone home insurance, you must first determine the details of the coverage that you are interested in obtaining. It is ideal to purchase that which covers everything inside of the brownstone home, the actual structure, and provides protection in terms of personal liability.

You should always commit to a policy that has an ideal deductible for your budget, offers the exact coverages that you want and need in the event of an issue arising, and also protects you for any type of event or situation that occurs on your property.

Homeowner Association Requirements

Due to the fact that brownstones are often located in prestigious historic districts throughout the State of New York, most are governed by homeowner associations. Prior to settling on a specific insurance plan, you should determine if there are any requirements in place by the neighborhood association.

You may find that you need special coverage specifically for your new home. If so, you should make certain that your insurance policy includes this coverage.

Temporary Shelter Coverage

Once you land a brownstone home, you will likely discover that it needs some renovations performed prior to you being able to move in. Because of this, you will need to have homeowner’s insurance that offers temporary shelter coverage.

In short, this will cover the costs of living at another location until your new home is considered livable. When reviewing this coverage type, make sure you understand under what circumstances it is available.

For example, it may just cover emergency situations. It may only be allowed to be used if the insurance company states it is “necessary”.

Going Green

Did you know that – even though brownstones are historic – that there are many insurance and government programs that offer various types of discounts and incentives for going green? It is true!

Review the insurance policy you have an interest in and determine if this is offered and what is offered. It may just be in your best interest – in the long run.

As you can see, there are several factors that should be considered when shopping for your brownstone insurance policy. By taking the information in this guide and working with us here at Modica Associates, we can help you uncover the perfect policy for your needs.

We offer brownstone programs that are designed for homeowners just like you! For more information contact us today by calling: 718-855-1836

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