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Crane Collapses in New York Only 2 of 32 Apartments Insured

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Wednesday, April 02, 2008

Crane Collapses in New York 2 of 32 Apartments Have Tenant Insurance

6.25% of the Tenants Had Renters Insurance or a Tenant Insurance Policy

Only two of 32 renters interviewed by the New York State Insurance Department following last month’s crane collapse on New York City’s East Side were protected by tenants insurance.

That low number is hardly surprising. Nationally, a 2006 survey by the Insurance Research Council found that only 43 percent of all renters were insured. In New York City, that percentage is believed to be significantly lower because of the high cost of living.

Some renters may believe – mistakenly – that their personal property is covered by a building owner’s insurance. Others, like recent college graduates, may be unaware of tenants insurance and some simply decide not to buy it.*

We at Castle Rock Agency constantly attempt to inform our clients of the importance of Apartment Insurance or Tenant Insurance.  In New York the cost of being without a home due to an insured loss, even for a short period of time, can be a catastrophic financial burden.

For more answers to questions about renters insurance please Read This Article about Renters Insurance.

For a Free Quote on Renters Insurance Click Here

*source: New York State Insurance Department 

As many people have already found out, Castle Rock Insurance Agency is the best stop for a quote on Apartment, Condo or Coop Insurance.  We are the low cost solution for your Condo Insurance Policy.

Castle Rock Agency currently offers Apartment, Condo and Coop Insurance Policy Coverage in New York, NY, New Jersey, NJ and Pennsylvania, PA.

Crane Collapses in New York 2 of 32 Apartments Have Tenant Insurance

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