QUOTE(yvonne johnson @ May 14 2008, 11:24 PM)
QUOTE(splinky @ May 14 2008, 11:21 PM)
QUOTE(yvonne johnson @ May 14 2008, 11:14 PM)
Speaking of which, living in NY, do G and I need flooding and earthquake insurance? (More than half-serious....co-op policy renewal and all that.)
your insurance broker can give best advice but flood insurance is always a good thing if there's important mechanical stuff and storage in the basement. not every insurer offers it, though. we have flood insurance on our house.
There's something about NY being around tidal rivers that don't flood and therefore one should not bother with flood insurance.
Your building may have a master policy covering floods and insurance damage, you might want to check with the board, etc on what is covered.
Much of lower Manhattan, and many parts of the east side are only a few feet above sea level. A level 3-4-5 hurricane hitting at the river's high tide could put them under a few feet of water. Many parts of Jersey City, Brooklyn and Queens have the same problem.
Many areas of Manhattan, in particular, are built on filled in water areas. The area east of Water Street, Turtle Bay, Kip's Bay, much of Battery Park City, etc are all built on fill.
Dreams come in all sizes, shapes, and colors.