Your NYC Home is one of your most important tangible assets and deserves a comprehensive New York home insurance policy coverage on an extended replacement cost (ERC) or replacement cost (RC) basis. This limit reflects the cost to rebuild your entire home. Oftentimes, this limit is underestimated and can have adverse consequences. Also, all home policies are not the same. Most standard policies, called ISO H03 policies, are narrower and are on a named perils basis (also called broad form). Instead, we recommend more comprehensive New York Home insurance from Chubb Insurance called "all-risk" or "special form” that covers everything except what is excluded. Furthermore, others will have more exclusions than Chubb Insurance.

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Water is by far the most common cause of loss for your NYC home and deserves special attention. Water damage from burst pipes, roof leaks, overflowing toilets, or faulty appliances can lead to severe losses, often reaching millions of dollars. Insurance data shows water damage losses are rising in both frequency and cost. Homeowners insurance should address these risks thoroughly. Because most carriers limit water protection, we recommend Chubb, as they offer water coverage on an extended replacement cost basis, ensuring your property and valuables are safe. Please read our blog on water damage to learn more.

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Most NYC Home policies restrict the ordinance or law, as it is expensive to add. Most Home policies rebuild to original condition, but after a loss, you must meet current building codes set by Federal, State, County, or City standards. Compliance with these standards results in extra expenses, including increased costs of architects and engineers to comply with items such as the latest fire code, plumbing code, air conditioning codes, noise control, ceiling heights, safety measures, window codes, and more. It also includes demolition costs to rebuild any undamaged portion of the structure to comply with the ordinance and law. For the best coverage for ordinance or law and cost-efficient homeowners insurance, Chubb remains the gold standard.

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Mold is everywhere in all properties without exception. Wherever there is water, there is mold. Home insurance New York is meant to cover losses that are "sudden and accidental," and often the growth of mold is neither sudden nor accidental. Sometimes, it grows over time in a manner that goes unnoticed. Think of a water drip happening in your cabinets, closets, or walls. Perhaps you are getting sick regularly, or circumstances unravel, and you have black stachybotrys mold! Or perhaps you had a water loss, in which case, mold will start to grow 24 to 48 hours after. Because of the complex nature of mold, most Home policies will not cover mold. For unparalleled mold coverage in NYC, we recommend Chubb home insurance in New York.

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Personal property coverage protects "your stuff" –the items inside your NYC Home that aren’t permanently attached. This includes furniture, clothes, appliances, refrigerator, dishwasher, washer & dryer, etc. Many homeowners' insurance policies in NYC use named peril coverage and pay on an actual cash value basis, which reduces payouts due to depreciation. Opt for replacement cost valuation to ensure full reimbursement for your belongings. Also, named peril policies don’t cover every type of loss; choosing an all-risk (open peril) policy gives you broader, more reliable protection. We recommend Chubb’s all-risk, replacement-cost coverage, ensuring your valuables are fully protected — making it the best home insurance New York.

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Loss of Use coverage reimburses additional living expenses needed to maintain your household’s standard of living after a covered loss, while repairs or rebuilding are underway (see Ordinance or Law). If your home becomes uninhabitable due to fire, storm damage, or another covered event under an HO-3 policy, you may face extra costs such as rent, hotels, meals, and transportation. Many insurers limit temporary housing options, duration, or location after a loss. Chubb’s flexible policies let you live comfortably where you choose during restoration, making it a top homeowners insurance choice in Manhattan, Brooklyn, and beyond.

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Umbrella provides higher liability coverage and usually sits on “top” of standard personal liability and auto limits. As we have stressed many times, protection against liability is one of the most important, if not the single most important, aspects of your portfolio. Hence, we strongly advise our clients to carry at least a few million dollars of umbrella coverage as part of their portfolio to protect against scenarios of financial distress or bankruptcy. Chubb, a premier home insurance company in New York, provides broad umbrella protection designed for high-net-worth individuals. Please see our blog on the importance of personal liability, litigation finance, and Warren Buffett’s advice on not losing money.

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Luxury items like jewellery, art, and collectables require specialised protection. Many New York property insurance plans limit or exclude these items. The reason is that these items are expensive and at high risk. Even if covered, they may not be covered on a true all-risk basis, have many exclusions, etc. Even if available, the carrier may have a hard time upfront demanding multiple appraisals or giving problems on the back end, paying the claim (e.g., if the item is harder to value). For broad coverage and reliable New York property insurance, we strongly endorse Chubb Insurance for all your valuables.

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Most NYC property insurance options are not designed to cover equipment or appliances that become damaged and suddenly stop working. While Equipment Breakdown coverage excludes normal wear and tear, it covers sudden failures and pays to repair or replace damaged appliances. For example, an electrical arch or power surge may damage your heaters, air-conditioner, refrigerator, boiler, fan, washer/dryer, dishwashers, and other home appliances. For comprehensive protection, we recommend Chubb Insurance, a leader in home insurance New York, offering reliable equipment breakdown coverage for your NYC home.

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Believe it or not, NYC is susceptible to earthquakes. In fact, NYC suffered a 5.8 magnitude earthquake stemming from Virginia in 2011 and a 4.8 magnitude earthquake in 2024. If either had been just slightly higher, damage could have been devastating. Given that most NYC homes are older, they are not as earthquake-resistant as newer cities, say in California. The age of homes, construction, population density, and vertical structures make earthquake-related losses extremely high in NYC. As such, many insurers will not cover earthquakes, and if they do, the premiums will be high. Chubb’s New York home insurance offers specialised earthquake protection to cover this often-overlooked exposure, ensuring complete security for your property.

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Flood insurance is essential for protecting your home and recovering from damage caused by heavy rainfall, storm surges, or tidal flooding. If you live in a New York home, you face the risk of water entering your property from heavy rain or runoff. In severe cases—like during Hurricane Sandy—your building could become uninhabitable, forcing you to relocate for months or even years while repairs are made. Flood coverage is one of the most underinsured risks in the United States because it is usually offered by the government, is poorly understood, has narrow coverage, and has very low limits. Instead, for comprehensive homeowners insurance, Chubb delivers unmatched reliability. against water and flood.

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Cyber insurance is the fastest-growing area of insurance with the highest demand and lowest supply of products. Insurers often struggle with how to price cyber insurance because: a) it is a new risk, with less data than usual risks, and b) it is a man-made risk that is changing. I.e., hackers are always changing their approach, which makes the little prior data not relevant. Furthermore, hackers are starting to target individuals over businesses because most individuals lack the security protections that businesses are forced to keep. As a homeowner in NYC, you need robust cyber protection. For a strong cyber home insurance in New York that offers excellent protection against cyber losses, we recommend Chubb Insurance.

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