Manhattan Home Insurance

Manhattan Home Insurance Information

Manhattan Home Insurance

Manhattan Home Insurance

One thing that affects the price of home insurance is the value of the home that you are getting coverage for.  In Manhattan, NY, the estimated median house value is $808,200. This is higher than the New York State average of $311,000.

Another thing that affects home insurance rates is the likeliness of natural disasters like flooding or hurricanes.  Manhattan gets 46 inches of rain per year which is higher than the US average of 37.  It also gets 25 inches of snow each year which is equal to the US average of 25 inches.  There are 224 sunny days per year and the July high is around 86 degrees.  The low in January is 26 degrees.

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You will also have to determine the value of your home’s contents and decide between replacement coverage and actual cash value reimbursement. Replacement coverage means that in the event of a loss, the insurance company will pay what it costs to replace the property at today’s prices. Replacement cost policies give you more protection than actual cash value coverage, which will pay you for what your stuff is actually worth. If your antique piano cost you $5,000 two years ago but is only worth $2,500 today, that’s all you’ll get from the insurance company.

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