Call: 203-637-6655 or email – Kyle Shepard

nyc townhouse

Why upgrade to a Premium policy for your Townhouse/Co-op/Condo?

Coverage upgrades add Significant Value

Beyond how you decide to decorate your property in New York City, ownership presents some unique challenges in determining who is responsible for what, when it comes to insuring your property. Is it the building association’s responsibility or should you have coverage as the unit owner?

“Premium coverage comes with extras benefits/coverages you should know about in making a coverage selection”

You can choose a basic property policy that is heavily contents focused. Or you can implement a premium contract like coverage issued by Chubb and have robust coverage for all your exposures.

Premium coverage comes with extras benefits/coverages you should know about in making a coverage selection:

– $50,000 of medical payments coverage if a guest is injured

– $25,000 of coverage for damage to property of others

– $100,000 of Kidnap and Ransom coverage

– $100,000 of identity fraud

– $10,000 for credit card forgery

– Coverage for rented or borrowed vehicles

– Workers compensation coverage for a residence employee required by NY state

Our experience with insuring NYC property units, especially with aging plumbing and continual renovation, is that stepping up to a premium contract is wise in order to avoid the potential of a dispute with the building association or an upstairs neighbor. But the added endorsements you receive with a premium contract are valuable as well.

If you have questions about basic versus premium coverage call Kyle at 203.698.9342 or email him at kshepard@shepardinsgrp.com.


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