Homeowners Insurance Coverage in NYC

When an individual purchases a home, they will also be responsible for purchasing a homeowners insurance policy. Insurance is a great tool that can be a person’s saving grace after they’ve been the victim of a disaster that caused their property to undergo significant damage. Of course, it is important for the homeowner to understand what their policy covers. Typically, a homeowners insurance policy will cover four major categories. These include the following:

• Damage to the home that occurs as a result of fire, hurricane, hail, break-ins, or other disasters. It is also important to be aware that homeowners insurance policies generally do not include coverage for floods and that this will need to be purchased separately. Flood insurance can be particularly expensive for those who live in flood zones.
• Coverage for personal belongings that were damaged or stolen by an event that is included in the policy. Personal belongings can include clothing, furniture, and other personal items. However, expensive items like jewelry or collections may need their own coverage.
• Additional living costs that may incur if the residents of the home are displaced as a result of the disaster.
• Bodily injury or property damage caused to other people.

If you have questions or concerns about your insurance company denying a claim, contact our firm today.

The Law Office of Craig A. Blumberg is an experienced New York City insurance law firm. If you require quality assistance after having suffered property loss, please contact our firm to schedule a free initial consultation.