Outside of the stabilized rent debacle, there are several other sitings in the news; including the May 29th fire started by a pedicab on E 54th Street around 10.30 am. I received calls from a few customers in that area both businesses and apartment dwellers. The smoke from this incident led to East 54th Street from 5th to Madison avenues being closed. Businesses were forced to evacuate the area, reservations at restaurants were cancelled, black smoke darkened the street and stained white table cloths of nearby restaurants preparing for the lunch hour had to be changed. Luckily the fire marshall announced that things were under control right after the noon hour. As harmless as smoke may seem, some of the employees in the area were forced to leave the area for an extended period, especially if they have asthma in their medical history.
The businesses that were affected may be taken care of under the business interruption coverage section of their policy; but for most of the City dwellers, displacement caused by a covered loss equals a good night sleep in a comfortable hotel if you have Renter’s, Condo/Co-op Insurance. Renters Insurance is an important safety net. Whether you live in a town house, apartment, or stand-alone house, purchasing renter’s insurance is a way those risks can become less terrifying. Those who own a home are familiar with the peace of mind the Homeowner’s policy provides during a covered loss. Renters insurance can also protect your personal possessions, cover personal liability, medical payments, and additional living expenses just like a Homeowner’s policy; if you were displaced due to an emergency.
Consider the situation after a home fire, smoke damage or other natural disaster which prohibits you from living in your own home safely. If this happens while you are renting, it can be costly to pay rent for a temporary spot. You and your family could be placed in a hotel as soon as your insurance Company is alerted of a covered incident. Being covered is a safety net and can be very cost-efficient. Even if a fire occurs in a nearby apartment, the water damage from the fire hose could be severe and render your home uninhabitable for a short or extended period.
Additionally renter’s insurance is important for theft, because theft coverage is a serious issue in the city especially after the recent string of burglaries in Brooklyn and Inwood, New York plus many towns in between. Erroneously many think any damage or loss to their personal property can be fixed by calling the landlord or owner. Renters insurance is a safe way to ensure that you and your possessions are protected from the effects of fire, theft, and many covered losses. To know more about the covered losses included in a Renter’s Insurance policy reach out to our professionals at (212)-568-5700. You can also read more on http://www.alphadrct.com.