Understanding Your New York Building Insurance

Understanding Your New York Building Insurance

What you need to know about Astoria, New York building insurance.

When it comes to insuring your home, it’s fairly straightforward. After all, homeowners insurance was designed to do just that!

When you need to insure a different building, though, it can get a little more complicated. Whether you’re an apartment owner hoping to protect your complex or a business owner wanting to protect your headquarters, you’ve probably wondered how to get the right building insurance for your specific needs.

Ultimately, the type of building insurance you should secure will depend on your building, its usage, and the things you store in it. For example, the apartment owner mentioned above likely doesn’t care much about protecting the contents of each individual unit; that’s why his or her tenants have obtained renters’ insurance. As a result, that building insurance policy should be tailored to protect the structure of the building without requiring the apartment owner to pay for coverage for personal property stored therein.

If, however, you’re a business owner and you want to protect not just your structure, but all of the inventory, equipment, and other business necessities you store in it, your building insurance should likely be rolled into a bigger policy—like a business owners policy (BOP)—to best meet your specific needs.

In other words, insuring your building will depend largely on what else you’re interested in insuring along with it. It’s important that you talk with an insurance expert who can help you get the right policy or policies to best protect what matters most for your operation.

Would you like to talk to a dedicated, knowledgeable agent who can help you with understanding your Astoria, New York building insurance needs? If so, don’t hesitate to contact 01 Insurance today!