A Guide to Home Insurance in New York (NY)

Making sure to get New York Home Insurance that properly protects you and your family is more than just good sense. It is also an act of obvious financial acuteness, because your home and its contents are most likely the culmination of your life’s economic work, because as well as being the place where you raise your children, love your wife and experience the benefits of a happy family it is also the concentration of most people’s wealth.

There are a number of things that you can do to ensure that you get good New York Home Insurance cover, and the good news is that these steps are actually pretty straightforward, even if some of them can be a little time consuming.

The first thing that you should do if you are looking to cover your home and its possessions is to take a full home inventory of everything that you own.

This may seem like a slightly daunting task, and depending on how tidy and organized your home currently is, this could take anywhere from a couple of hours to many days. But regardless, it is something that you should do.

Ironically, the messier your home is, the more you should probably do this. Because most likely you will find items that you don’t even remember buying, and so had your home of burned down you would never have claimed for them.

This is potentially lost dollars in your bank account in the future, and so it is something that you need to do.
The way you would go about this is to take a pad and paper and then inventory each room in turn.

You should write down every item in that room, including carpets, curtains, furniture and light fittings as well as all the consumer items that all of us typically accumulate.  And then next to each item you should record how much you purchased it for and when and where you bought it. It can also be a good idea to take a digital camera around with you and photograph every item individually.

This might seem like overkill, but the fact is that this will not only provide you with a very accurate estimation of the value of your items (so that you don’t take out too much New York Home Insurance that you don’t actually need); but will also make any eventual claim that you have to make on the policy much easier to prove and get paid out on.

It is also a good idea to explore fitting some kind of security system to your home, as this can have an effect on the final premium that you may have to pay out for a policy; and also take a closer look at entry points into your home such as doors and windows, to see if you can install any extra bolts or door locks to make them more secure.

At this stage you will then have a much clearer idea of the amount of New York Home Insurance Cover that you really need, and will be in a good position to get some quotes.


What is the Average Cost of New York Home Insurance?


Clearly you don’t want to overpay for any insurance that you do take out, and so it is useful to have some idea about what the average cost of a policy might be.

The US Government provides some clear statistics in this regard, because they have access to data from each of the individual state insurance regulators as to the average costs for different policies.

The average cost of New York Home Insurance for a year’s worth of premiums was $983; which is a bit higher than most other states, but perhaps not surprising given some of the inner city areas that these statistics are also covering.

You can reasonably expect that there will be quite marked differences in the costs based on exactly where you are located, and so make sure to shop around for a good selection of New York Home Insurance Quotes before finally buying your policy in order to check that you are getting the best possible value for money.


 

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