Category Archives: Condominium Insurance

Home, Cooperative, and Condominium Insurance for First-Time Buyers

“Ask every broker or agent you contact for a quotation based on your homes’ full component replacement or construction cost (RCT), not the market value or the mortgage amount. Ask them to provide you with a printed copy of the replacement cost calculations. ” Continue reading

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Covered For Plane Crashes? |E. L. Greaves Jr.

When I realized I was talking to Mr. and Mrs. Worrywarts, I asked them if a plane crashed into their home. They confirmed their lovely home was still in one piece, and I calmed them down. When I asked them why in the world they were worrying now, after living in their home for several years, about plane crashes, they told me about the tragic accident in Indiana. Continue reading

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Read Your Homeowners Insurance Policy | Brooklyn Covered

Why did they think their flood losses were covered? I’m sure their insurance agent didn’t tell them they were covered. Heck, I inform each and every one of my clients about the need for flood insurance, even if they live in the middle of Bedford-Stuyvesant, Crown Heights, or Prospect Heights. The usual response? I usually get a “Oh, I don’t need that. I’m not near the water.”, or “Why are you trying to take more money out of my pocket? I can’t deduct you on my income taxes!” Continue reading

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