Selden, NY is one of the best places in the world to live, isn’t it? You have the peace and quiet of the farmland, the pleasant, cozy warmth of a small town, but you can drive down to NYC any time you want to experience the city. The town gets its name from Henry Selden, an upstate attorney, who promised to do "something happen" for the town if they named themselves after him. Well, he never wound up doing anything handsome for the town, but it’s still a great place to live!
That doesn’t really qualify as something that you "need to know" if you live in Selden, it’s just a fun piece of trivia. Now here’s something you do need to know: Living in upstate New York means paying quite a bit less for insurance than you will in NYC. This is true across the country: if you live in a place that is a little more secluded and rural, your insurance rates are going to be much, much lower than they are in the city. Some NYC drivers spend more in a year on insurance than you spend on your mortgage and car payments combined. Even the most reasonable providers you’ll find through XL Brokerage Inc. have to charge more simply because they’re taking a bigger risk on city drivers than country drivers.
Selden has a smallish population that skews middle-age, with the median being just under forty years old. This also contributes to lower insurance rates.
In other words, if you live in the city, you might want to consider moving out into the sticks. You’ll cut your rent by, probably, a few grand a month, and you may wind up paying a fraction of what you’re currently paying for auto insurance.
Home insurance is custom fitted to the premises that it insures, so many different factors go into its cost. Taking a look at some of those factors can help you understand what you’re paying for. Here are a few for thought.
Whether your home is frame or brick influences risk and its replacement cost. That’s the cost of the labor and materials necessary to rebuild your home today. You’ll want an accurate replacement cost value so you don’t have to reach into your pocket to be made whole again.
Selden, NY isn’t a stranger to hurricanes, and standard homeowners policies don’t cover either hurricanes or flooding. Hurricane insurance should be an important part of your home insurance. Most hurricane policies cover both wind and flood damage, but be sure that you’re covered for both. New York requires insurance companies to offer discounts to homeowners who have installed certain forms of hurricane protection like storm shutters or protective windows and doors.
Your deductible is the amount that you’ve agreed with your insurance company to pay out-of-pocket before the insurer’s obligation to cover you for a loss is triggered. A higher deductible might lead to a lower premium on a standard policy. Expect to pay hurricane and flood deductibles in excess of your standard deductible in or around Selden, NY.
A standard homeowners policy covers about half of the value of your personal property inside of your home. You’ll want to look into replacement cost coverage. Special coverage should be added for items like artwork, jewelry, furs or the like.
We’re independent agents at XL Brokerage Inc. We’ll custom fit homeowners coverage for you anywhere in New York. Feel free to visit us online or in person.