The policy form has to match the property

Homeowners, condo, co-op, renters, and dwelling fire are different structures, not different names for the same thing. A condo owner on a renters form has nothing covering the kitchen they renovated. A landlord on a homeowners form may find it is not built for a tenanted property.

Deductibles in the five boroughs

A hurricane deductible is usually company mandated and applies when a storm is declared a hurricane. It commonly runs 1% to 5% of the dwelling value or the amount of insurance on the dwelling, and many insurers require one for properties in the five boroughs, Nassau and Suffolk counties, and coastal areas of Westchester.

The Department of Financial Services requires insurers to state that deductible as a dollar amount on your declarations page, so it is worth checking yours. A separate windstorm deductible is optional and applies to any wind loss, not only a named hurricane.

What standard policies leave out

Flood is excluded from standard homeowners, condo, and renters policies. Coverage comes separately, through FEMA's National Flood Insurance Program or a private flood policy. Homeowners policies also carry sublimits on certain property, commonly around $1,500 for jewelry, furs, and coin collections, and generally $2,500 for business property kept at home. Scheduling those items usually costs very little.

Broker, agent, or agency: what the difference actually is

In New York the distinction turns on who is being represented. An agent generally represents the insurer. A broker acts on behalf of you, the client. Market access varies either way, since some agencies are appointed by one carrier while others place business with many.

So whether you want a homeowners insurance agency or a broker, the useful question is the same. How many markets will actually see your submission, and will someone explain the differences in limits, deductibles, and exclusions rather than only the price?