Category Archives: homeowners insurance policy exclusions

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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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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Your Duties After A Loss | Brooklyn Covered

If your policy includes coverage for additional living expenses (and if it doesn’t, go out today and buy a policy with this important coverage), you must again keep accurate records of your expenses for housing, food, and transportation.
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