NYC Landlord & Building Owner Insurance Insights
These articles are intended to help NYC landlords and building owners make informed insurance and risk management decisions. You will find practical guidance on liability exposures, compliance issues, common claims, and coverage considerations that can affect insurability, premiums, and long-term stability.
New York’s Indoor Allergen Law: What Landlords Need to Know
New York City landlords must perform annual inspections of units for indoor allergen hazards under New York's indoor allergen law. New York’s Local Law 55 of 2018, also known as the…
How Open Violations Can Affect Your NYC Property Insurance
Open violations can cause problems for landlords when renewing the building’s insurance policy, even if they still have time to correct and certify the violation before the agency deadline. As…
Hiring Contractors? Follow These Risk Management Tips
While some property owners are handy and enjoy upgrading and maintaining their buildings, most people rely on professional contractors. Even minor repairs and improvements, however, can involve some level of…
Dog-Related Injuries Cause $1.57 Billion in Liability Claims
Even landlords who love dogs might want to rethink the pet policy for their buildings. According to the Insurance Information Institute (III) and State Farm, dog bites and other dog-related injuries cost…
Wear and Tear vs. Property Damage: What NYC Landlords Need to Know
A chief source of friction between landlords and tenants stems from disagreement over what constitutes normal wear and tear versus excessive damage to a rental property. Naturally, these disputes typically…
Questions to Expect When Buying Landlord Insurance
The landlord insurance market has been tough for years. Various external forces—from higher construction labor and materials to more frequent and severe natural disasters—have driven up insurance premiums. Not surprisingly,…
Spring Maintenance Checklist for Landlords
After a particularly brutal winter, spring is finally arriving here in the Northeast. Warmer temperatures mean that building owners and landlords should inspect their properties for maintenance issues that might…
Do I Need Separate Insurance Policies for Each Rental Property or Apartment Building?
Many property owners who have multiple buildings in their portfolios ask whether we recommend separate insurance policies. We present options for a master policy and provide them with the information…
Fire Prevention for NYC-Area Landlords: Protect Your Tenants and Property
The holiday season may be behind us, but we’re in the heart of the winter fire season, with home heating—particularly space heaters—a leading cause of home fires and fire-related…
NYC Landlord’s Guide to Water Sensors and Leak Detection Technology
It’s every landlord’s nightmare: a leak, flood, burst pipe, or overflowing sink or appliance that goes undetected until major, expensive water damage occurs. Landlords and property owners are right to…