If you are reading this, it is quite likely that you have recently purchased your very own brownstone home. Congratulations! This is quite an achievement!

Despite the immense degree of space, the exquisite architecture, and the social status of being a proud owner of this type of real estate, having a brownstone comes with many responsibilities.

The first being the acquisition of insurance. In this brief guide, we will outline the essential considerations that must come into play when seeking the best coverage for your needs. 

Underlying Issues 

Now that you have your own brownstone, it is time for a little exploration. As you inspect the property, it is quite likely that you will discover many underlying issues. T

his stems from age and the manner in which brownstones were created. You may discover that the inside was painted using lead-based paint, plumbing pipes and fixtures that are not up to the modern code, and even infestations of termites.

When shopping for brownstone insurance, it is imperative that you obtain that which allows for the coverage of such issues. In doing so, you will spend less out-of-pocket. 

Upkeep 

The next consideration that should be made when seeking insurance for your newly-acquired brownstone property is that you are completely responsible for the upkeep.

It does not matter if you have a leak, an insulation issue, a damaged roof, a flood, or any other issue, you are responsible for it.

Because of this, you must analyze coverage options. You will want to sign up for those that cover the unexpected. Remember, always prepare for the worst – even if you expect the best. It is better to prepare ahead of time than to experience delays in necessary upkeep. 

The Preservation of Property

A brownstone is classic. Regardless of what happens, you will want to have coverage that will preserve your property by restoring it to its original condition.

When buying insurance on your home, it is a must that you only buy from those that specialize in older homes. You should also focus on those that will allow you to hire contractors that have experience in and specialize in the repair and restoration of brownstone homes. 

Codes

Most older homes do not meet the construction codes that are currently in place. Additionally, standard insurance will not often include this coverage. If you have a brownstone home, it is important to purchase policies that include this additional coverage.

That way, should an issue occur, you can repair it AND bring everything up to the current codes without spending a lot of money directly out of your pocket. 

Landmarks

Many brownstone homes have what is called “Landmarked Status”. This indicates that the changes that you make will be limited. You will need to go through a special Preservation Commission for approval.

You must choose brownstone insurance companies that are willing to meet the guidelines associated with this organization. 

If you are in the market for brownstone insurance, you must choose carefully. For assistance in this matter, contact us here at Modica Associates now by calling: 718-855-1836