Hurricane Sandy sparks aggressive support from New York officials

Homeowners flood Insurance

Homeowners Insurance News for Hurricane SandyNew York officials mobilize to help victims in wake of Hurricane Sandy

Homeowners in New York are still reeling in the wake of Hurricane Sandy, which struck the state and its neighbors in late October. The storm proved to overcome expectations of its strengths and caused havoc throughout the state, generating widespread floods and claiming 131 lives in the U.S. Insurers are still evaluating the damage caused by the storm, but estimates concerning Hurricane Sandy’s impact suggest that the storm caused some $50 billion in damages.

Staten Island residents find support from state government

In the wake of the disaster, New York Governor Andrew Cuomo has been working to ensure that homeowners receive the help they need. Recently, the Governor dispatched high-ranking officials to Staten Island, where homeowners are struggling to recover in the wake of Hurricane Sandy. Staten Island victims, many of whom lack insurance, are in need of financial assistance and the New York government is working to find a way to assist these people. Officials have established a disaster center in St. George to help answer any questions regarding insurance coverage that consumers may have.

Information may be a powerful tool for victims

State officials have been working to assist homeowners, renters, and business owners with the insurance problems they may be having. This assistance includes getting into contact with an insurance provider, as many victims have limited means of communication due to the impact of Hurricane Sandy. Governor Cuomo believes that information is one of the best tools consumers have to overcoming the disaster and ensuring that they can get the benefits they need from their insurance provider.

Uninsured and NFIP policyholders may face major financial problems

Those without insurance coverage are expected to bear a major financial burden. Much of Hurricane Sandy’s impact comes from the widespread floods generated by the storm. Typical homeowners insurance policies do not protect against flood damage, leaving many homeowners responsible for acquiring this coverage through the National Flood Insurance Program. The program is crippled by massive debt that ranks in the trillions of dollars. It is unclear whether the program will be able to honor the claims coming from policyholders at this time.

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