Damage to insured properties caused by the explosion in the East Village area of New York City yesterday, are likely covered by standard property insurance policies, according to the Insurance Information Institute (I.I.I.).
Homeowners insurance policies (including condos and co-ops) typically cover damage caused by explosion, fire, smoke and building collapse. Renters who have renters insurance also have coverage for their personal possessions. Both renters and homeowners will likely have coverage for the cost of additional living expenses if their homes are uninhabitable due to damage or destruction of the property.