While the administrative trivialities of life in New York State can admittedly be complex, Brooklyn, NY renters insurance doesn’t have to be. Many people don’t know much about New York Renters Insurance, or how it might be different from coverage elsewhere, so we’ve created the Brooklyn, NY renters insurance guide to give you an overview of the things you really, truly need to know about the coverage, as well as about living here.
To start with, Brooklyn, NY renters insurance is a rather broad term. You could find an apartment on Manahattan Ave. in Greenpoint with views of… Manhattan, of course. Or you could find a great little apartment in South Brooklyn – which is actually in Northwest Brooklyn geographically. It was the southern boundary of the city once upon a time, and the name sort of just stuck over the years. Williamsburg and East Williamsburg are popular, up and coming areas with a great deal of history. Bushwick (where there are no bushes), Highland Park (at a lower elevation that you might expect), and Spring Creek (nope, no creeks here) are also popular places to live.
East New York is technically east of NYC, but there’s another name that’s just stuck over the years. Brooklyn is full of history, as well. Brownsville is a neighborhood in Brooklyn that was started by, of all people, a Vermonter who moved down to make his fortune. The small frame shacks of the late 1800s have given way to brownstones and high rises, but the character of the neighborhood remains to this day.
Bedford-Stuyvesant renters insurance is frequently sought. This older neighborhood was really set on its way to stardom by the opening of the elevated trains in the 1880s, and the subway in 1936. Popular with immigrants and locals alike, Bed-Stuy is one of the more desirable parts of Brooklyn currently. It’s also, if you care for trivia, where Chris Rock grew up and the setting of his short-lived yet heavily syndicated show “Everybody Hates Chris.”
It’s important to remember that only forty-four percent of Americans have renters insurance! In line with our core values, we work to educate Americans about the need for coverage and the benefits of Brooklyn renters insurance. Take a few minutes to review our Brooklyn renters insurance guide and if you still have questions, feel free to reach out to us for answers.
Because it’s such a broad community with so many neighborhoods and unique aspects, Brooklyn renters insurance could just as appropriately be called Kings County renters insurance. Both are equally broad, yet accurate terms. No matter where you live in this fascinating borough, you need to be protected. One call to Effective Coverage at (800)892-4308 will do the job!
Brooklyn, NY Renters Insurance
Does Brooklyn Renters Insurance Cover Theft?
Absolutely. Renters insurance in Brooklyn covers theft of your personal property. Theft is covered subject to a deductible, just like any personal property loss. That deductible is usually $500, though it can vary depending on your policy. That’s one of the things you discuss with the New York Renters Insurance experts when you set up a policy, to make sure the deductible matches your individual tolerance for risk. A higher deductible means a little more risk, and can result in a slightly lower premium, for example.
Theft of any personal property is generally covered for the replacement cost of the property in question. That means your Brooklyn renters insurance will pay for a new one of whatever was stolen of like kind and quality, rather than at the actual cash value.
Do be aware of sub-limits on certain types of property. For example, there’s generally a smaller limit on jewelry loss by theft. If you need more coverage than the sub-limit allows, an endorsement can be added to the policy to make sure that coverage is there. If the jewelry is endorsed onto your Brooklyn renters insurance, that doesn’t change the total personal property limit. On the other hand, you can add a policy on top of your renters insurance that will cover the jewelry separately without impacting your personal property limit on the underlying policy. For items of significant value, this is often the best way to go. An Effective Coverage expert can advise further on the details of your situation.
Can I Move My Brooklyn, NY Renters Insurance Policy?
Of course you can! Brooklyn renters insurance isn’t limited to Brooklyn. If you move within the state, a simple change of address only takes a few minutes and often doesn’t change the premium at all. If you’re moving out of state, we can rewrite the policy for the new state to ensure you have all the appropriate coverage at both locations for the appropriate period of time.
While you’re moving, generally your Brooklyn renters insurance policy will provide coverage for 30 days at both locations while in the process of moving your principal residence. That means that if it takes you a few days to move, you have coverage at both apartments for your property.
Does Renters Insurance In Brooklyn Cover Roommates?
That depends on one question. Are you married to or related to the roommate? If so, your policy covers them under the definition of named insured. If, however, you’re not married to or related to them, roommates on Brooklyn renters insurance policies each require their own policy. This is imperative to ensure coverage applies. Most NY policies do not allow you to endorse roommates onto a policy, so you’ll each need one. The good news is, the coverage is not expensive at all!
How Much Does Brooklyn, NY Renters Insurance Cost?
The cost of renters insurance in Brooklyn averages to be roughly fifteen dollars monthly. That’s for a basic policy that will cover you for $15,000 of personal property and $100,000 of liability.
Higher liability limits are a common requirement of Brooklyn property managers and supers, but they don’t add much to the cost. Increasing your liability limit to $300,000 or $500,000 tends to be just a few dollars a year. It’s also a good idea. NYC is a lawsuit-happy city, so the more protection you and your family have, the better.
Does It Matter How I Buy Renters Insurance In Brooklyn?
How you buy renters insurance in Brooklyn can certainly affect both price and coverage. The best way to purchase Renters Insurance is to work with a company who focuses on the insurance needs of renters, and can get you the best pricing as well as the best coverage. Effective Coverage is the nation’s only full-service insurance provider with a laser focus on the insurance needs of renters. That allows us to take the time you deserve to make sure your policy matches your lifestyle and your budget.
I Don’t Have Car Insurance To Bundle With, Can I Still Get A Great Deal On Brooklyn Renters Insurance?
Of course you can! Many people don’t feel the need to own a car in the city, but still need Brooklyn renters insurance. That doesn’t mean they’re not entitled to discounts! Effective Coverage works to apply every discount possible to your policy, without you having to ask for each one individually. This way you know you’re getting the best price, and you don’t feel like you missed out on asking for some obscure discount. Once again, work with the experts for the best deal.
For the most accurate answers, the best coverage, and the best prices, call the Brooklyn, NY renters insurance experts at (800)892-4308 or click to get started right away. You can be covered in just minutes, with proof of coverage electronically transmitted to your super or property manager in just seconds!
Renting In Brooklyn, NY
Brooklyn is an up and coming place to live because of its character and its convenience to Manhattan for those who work there. Housing prices that are relatively lower also contribute to the influx of new residents to Kings County. As of July, 2007, the population was about two and a half million, but it’s grown quite a bit since then. The median household income is $45,230, but this figure is a bit skewed just like median rents would be because of the large area and many neighborhoods that Brooklyn encompasses.
Brooklyn, NY Median Household Income And Rent By Neighborhood
|Region||Median Rent||Median Household Income|
As you can see, even a small selection of Brooklyn neighborhoods offers a wide variety of demographics and costs. Overall in Brooklyn, the median home value is $537,500, though that also is subject to variations based on specific areas within Brooklyn. If you’re looking for a gentrified area, you’re going to pay more than if you’re looking for a first apartment as a college student, of course. Such is the way of the world, but those divisions are much higher in Brooklyn, where rents can range well north of $3,000 in some areas. This is to be expected, considering that Brooklyn is so large and diverse that, if it stood on its own as a city, it would be the nation’s fourth largest city, only behind the remainder of NYC, LA, and Chicago. One report indicated that studios in Cobble Hill had the largest recent decrease in rend, at 15.92 percent, and Dumbo rent is up, with two bedrooms going as high as $5,451.
Brooklyn became part of NYC in 1898, when it was consolidated with other surrounding areas to form what we know as the city today. The official motto of Brooklyn, in the original early Dutch, is Eendraght Maeckt Maght – in unity, there is strength. Until 1883, the only way to get to the rest of NYC was by water. Completion of the Brooklyn Bridge in 1883 offered new transportation options and a stronger connection to the rest of the city.
Brooklyn has strong economic ties to Manhattan – 44 percent of the population of Brooklyn works there, so Manhattan economic changes are felt in Brooklyn. Immigration affects the job market, creating service, construction, and retail jobs. More importantly, perhaps, many financial companies have moved their back office operations to Brooklyn. Lower operating costs and a steady workforce have contributed to this change. Manufacturing was a major sector of the economy, but Brooklyn has developed beyond that to a service economy. Pfizer, the pharmaceutical giant, spent most of its life a Brooklyn native, from its founding in 1869 until the closing of their plant in 2008. Brooklyn has a long history of a strong economy and hard workers.
You work hard for what you have. Don’t put it all at risk. Protect yourself today with Brooklyn, NY renters insurance from the New York Renters Insurance experts. Just call (800)892-4308 or click to get covered - whether you need renters insurance quotes online or coverage anywhere else!
Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.