We learned a lot of valuable lessons from Irene and Lee last year. Homeowners all over the state were affected, and subsequently are better prepared for future disasters today.
When people buy homes they also buy homeowners insurance to protect themselves and their investment. They trust this will keep them financially secure in case the unthinkable should occur. But when a hurricane hits New York, many homeowners will find out the hard way that there is no standard on whether their insurance policy will make them pay their policy’s regular deductible or the much, much higher “hurricane” deductible. The qualifying conditions (or “triggers”) that make the damage fall under one or the other varies from insurer to insurer. So, when the storm hits, your neighbor might be paying his standard deductible of $500, while you’re in the hole for tens of thousands.
What New York homeowners deserve is a law that creates standard triggers for hurricane deductibles. Currently, there is a bill in the state Senate (bill No. S.3387) that already has passed the Assembly to do exactly that. Reach out to your state senator today and let your representative know that New Yorkers need this protection. Ask your Senator to vote for the windstorm deductible bill before they leave Albany next month.