Call Us Today! 718-532-6000

Safeguarding your home and everything in it

What Is Homeowners Insurance?

Homeowners Insurance is a type of coverage that offers protection for you and your family in case your home experiences damage or is completely destroyed. It encompasses various elements, including coverage for replacement costs, other structures on your property, assistance for living elsewhere if your home becomes uninhabitable, and personal liability protection.

What Is Renters Insurance?

Renters Insurance is designed to safeguard the belongings in your rented home or apartment. It includes coverage for the replacement value of your personal items and provides personal liability protection.

Why Is It Necessary?

– Homeowners Insurance

For homeowners, having Homeowners Insurance is not just a good idea; it’s often a requirement from your mortgage lender. Beyond that, it provides peace of mind by ensuring that your home is shielded from unexpected damages and losses. The personal liability coverage also offers protection in the event that someone is injured while visiting your home.

– Renters Insurance

Renters Insurance is essential if you occupy an apartment, house, or condo. It ensures that your personal possessions are financially protected in the event of unexpected damage or loss. While your landlord’s insurance may cover damage to the building, it won’t compensate you for the loss of your personal belongings.

Personal Property/Contents – Property Damage

When an unforeseen event damages your home, your personal belongings can also be at risk. Items like furniture, appliances, clothing, electronics, and personal possessions may be damaged or destroyed.

Typically, your homeowners insurance policy covers personal property, including the contents of your home and personal items owned by you or family members residing with you. Ensure that your homeowners policy includes replacement cost coverage for personal property to guarantee full reimbursement for damaged items.

Personal Liability

In the unfortunate event of someone getting injured on your property, you and your family could be held responsible for any resulting injuries.

Your homeowners policy incorporates personal liability coverage to address incidents involving injuries or damages to a third party where negligence is determined. However, it’s advisable to consider purchasing a personal umbrella or excess liability policy to extend coverage limits and safeguard your assets in case of a lawsuit.


Fires are often devastating, causing both emotional and physical damage to your home. If your home is lost to a fire, it’s important to have sufficient insurance coverage for replacing your home and its contents. Keep in mind that the cost of rebuilding your home can exceed your current coverage limit due to inflation in building materials and construction costs.

To protect against this, ensure your homeowners policy includes guaranteed replacement cost coverage. Additionally, verify that your insurance covers rebuilding your home to meet current building codes, as local ordinances and codes may change over time, incurring additional costs.

Personal Injury

Young individuals are active online, but using social media and other platforms can expose you to potential lawsuits if their actions harm someone’s reputation, either directly or indirectly.

While your homeowners insurance covers property damage liability caused by any family member, it may not cover harm to someone’s reputation due to rumors or statements. You should add an endorsement to your policy to expand coverage for personal injury liability protection.

Medical Expenses

If a guest is injured on your property, even during a friendly game of baseball, you may be responsible for their associated medical expenses.

Your homeowners policy should include coverage for medical expenses to address injuries and treatment, typically for non-serious injuries. If someone is injured on your property and requires medical attention, you can submit the medical expenses to your insurance carrier, often without the need for a liability claim.

Umbrella / Excess Liability Coverage

Imagine a scenario where a guest at your pool party is permanently injured, leading to legal action. Do you have enough savings to cover your legal responsibilities and defense costs?

Umbrella or excess liability coverage can increase your personal liability limits by extending protection beyond your current auto, boat, or homeowners policies. This provides financial security and peace of mind. You can add excess liability insurance as an endorsement to your homeowners policy or as a separate policy.

Flood Coverage

Flood damage can occur even if you don’t live near a body of water, as changing weather patterns lead to more frequent and damaging storms.

Your homeowners policy does not cover flood damage. To safeguard your home and its contents from specific flood-related losses, consider purchasing a flood insurance policy through the National Flood Insurance Program or a participating carrier.

Additional Living Expense / Loss of Use

Substantial damage to your home, caused by events like lightning, fire, or storms, may render your home temporarily uninhabitable, incurring extra expenses for temporary housing, food, and daily needs.

Ensure your homeowners insurance policy provides additional living expense or loss of use coverage to reimburse you for these additional costs during repairs or reconstruction.

Off-Premises Theft

Standard auto insurance typically does not cover personal property stolen from your vehicle.

Many homeowners policies offer the option to add off-premises theft coverage as an endorsement, protecting your personal property when it’s away from your residence.

Water Backup

Most homeowners policies do not cover water backup damages resulting from issues like clogged drains, sewers, or sump pumps.

You can usually add water backup coverage to your insurance policy to ensure you’re protected in case of damage caused by such incidents.

Collector Cars

Collector cars often hold significant value and require specialized insurance coverage and claims handling.

To protect your collectible vehicle for its appraised or market value, consider scheduling it on a separate collector car policy.

Wine Collection

If you’re a wine connoisseur, you know that environmental factors can damage your collection. Your homeowners policy may offer some coverage, but it’s subject to policy terms.

For comprehensive coverage and the elimination of deductibles in case of loss, consider scheduling your wine collection on your homeowners policy or explore unique coverages for wine spoilage.

Jewelry, Fine Arts, and Collectibles

Standard homeowners policies may not fully compensate you for valuable items like jewelry, artwork, and collectibles if they are lost or stolen.

Valuable possessions insurance covers personal property with unique value, limited replacement options, or specific types of losses. It can be added to your homeowners policy or written as a separate policy.

Miscellaneous Coverage

If you have a trampoline, ensure that your homeowners policy covers it, as not all providers do. Coverage may vary by state and insurer.

Secondary Home

For a secondary home, extend liability coverage under your homeowners policy and consider adding it to an excess liability or umbrella policy for increased protection.

Request a Quote

Do you have more questions? Please let us know by sending us a message or giving us a call.