Do you own a residential building in Manhattan, Brooklyn or Queens with 20 or fewer units? The New York Brick & Brownstone Program could improve your coverage and save you money.
Designed specifically for smaller properties in New York City, the Brick & Brownstone Program is available for owner-occupied and tenant-occupied buildings, including condos, co-ops, brownstones, row housing and apartment buildings. The program also includes mixed-use properties that are at least 50% residential.
NY Brick & Brownstone Benefits
Why should you check out this program? It’s a premium insurance package at a competitive cost, backed by an A-rated carrier that’s been insuring New York properties and paying claims for more than 40 years.
The following coverages are standard:
- Special form protection
- Replacement cost
- Terrorism included
- Agreed amount endorsement available
- Equipment breakdown/building machinery, heating/cooling systems, miscellaneous electrical apparatus included
In addition, New York City building owners can customize their policy with the following property endorsements and coverages, among others:
- Personal property
- Deductible options, ranging from $1,000 to $10,000
- Flood, in qualifying locations
- Water back-up (not flood related)
- Upgrade to green
- Ordinance or law
- Business income, including rental value with extra expense
- Employee theft
The New York Brick & Brownstone Program also offers the following optional liability coverages:
- Personal liability
- Directors & officers liability
- Employee benefits liability
- Water damage legal liability
- Hired & non-owned automobile liability
As new carriers and products enter the New York City market, we’ll keep you posted on the details to help you understand the available options and make the right decisions to protect your properties. New programs are coming for properties ranging from two to 100 units.
To learn whether the New York Brick & Brownstone Program can help lower your insurance rates, call our office at 877-576-5200. Or, if you have questions regarding the above types of coverages, download our free guide to commercial property insurance. You may also want to see our Special Considerations for Brownstone Insurance. You can also post a comment below or call our offices for additional information.