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.
7 Signs You Need to Update Your Property Insurance
Most people don’t think about their property insurance until something happens. But when was the last time you made sure your coverage was up to date? It’s far more painful…
Why You Need to Know Your Insurance Company Rating
Before purchasing a policy, you’ll want to make sure that the insurance company you choose will be able to pay you after a claim is approved. Insurance company ratings are…
Homeowner Insurance and Building Insurance: Key Differences
People ask us all the time, what's the difference between homeowner insurance and building insurance? The answer typically comes down to whether you're insuring your primary residence or whether you…
Could Social Media Raise Your Insurance Premiums?
When you post photos of your new home addition on Facebook or Instagram, tweet about your vacation, or upload videos of your puppy to TikTok, Snapchat, and other social media…
How and When to File a Landlord Insurance Claim
Landlord insurance protects building owners from financial loss due to property damage or liability claims. At City Building Owners Insurance, we help owners of apartment buildings, brownstones, and condominium and…
Best Practices for Building Management Associations
Good intentions aren’t enough to protect building associations and their boards of directors from legal claims. Directors and officers (D&O) liability insurance is essential for protecting the association and board members from…
Common Directors and Officers Liability Claims
While no one likes to think about lawsuits (except for perhaps litigation attorneys), they are a fact of life—one that association boards and property managers need to prepare for with…
Why You Shouldn’t Own a Building in New York
If you own a building in your personal name, then you’re opening yourself up to a world of liability. Let’s say you’re a landlord. A tenant sues you over repairs…
Social Inflation: What It Is & How the Right Insurance Partner Can Lower Your Risks
When assessing the risks of insuring a property, landlord insurance providers use inflation indicators like the Consumer Price Index (CPI) to estimate payout amounts for potential claims. But one type…
Does Your Lease Agreement Include These 11 Key Pieces of Information?
Whether you're a landlord or a tenant in New York State, a well-drafted lease agreement is essential to protect the rights and obligations of all parties involved. A lease agreement…