Property Insurance

Property Insurance

Property insurance serves as a crucial safeguard for Homeowners, Renters, and those residing in Cooperative housing.
Whether you own a house, rent an apartment, or hold shares in a cooperative corporation, your property is valuable and deserves protection.

Unexpected events such as fires, thefts, or natural disasters, can cause significant financial loss and emotional distress.
This is where property insurance steps in, offering a safety net to help you recover and rebuild.

Homeowner Insurance (HO3)

Home Insurance, commonly called hazard Insurance or Homeowner's Insurance, is a type of property insurance that covers a private residence.

  • Providing coverage for the physical structure of the Home, personal property, personal liability protection, and additional living expenses in case of a covered loss.
  • Homeowners Insurance is essential for protecting your investment and providing financial security in case of unforeseen events.

NY Capital is here to protect your Family Home from everything life throws at you.

Renters Insurance (HO4)

Renters insurance is designed for individuals who rent a house, apartment, or condo/co-op.

  • Renters Insurance primarily focuses on protecting the renter's personal belongings and liability coverage.
  • It covers the cost of replacing or repairing personal property damaged or stolen due to covered perils, such as fire or theft.
  • Renters insurance also provides liability protection if someone is injured in your rented space, and you are held liable.
  • It may also cover additional living expenses if you need to temporarily relocate due to a covered loss.

Co-op Insurance (HO6)

Cooperative housing, or co-op, is a popular form of homeownership in New York City. If you're a shareholder in a cooperative building, it's essential to understand the importance of co-op Insurance.

  • Co-op Insurance provides coverage for the shareholder's personal property, liability protection, and potential coverage for the unit's improvements and alterations.
  • The coverage for Co-op Insurance may vary depending on the specific bylaws and regulations of the co-op organization.

Condo Insurance (HO6)

While condo associations typically have Insurance coverage for the building and common areas, there are certain things that your association's Insurance may not cover. A Condo Policy protects what your association does not.

  • Condo Insurance provides coverage for your unit, ensuring that your investment and any unit upgrades are protected.
  • Coverage includes coverage for your personal belongings within your condo unit. Without condo insurance, you would be solely responsible for covering these costs out of pocket.
  • Personal liability, additional living expenses and loss assessment are typically included in a condo policy as well.

It is important to review and understand the specific terms, limits, and exclusions of your insurance policy to ensure you have adequate coverage tailored to your needs as a property owner.