Tag: new york homeowners insurance

New York institutes new homeowners insurance rules in wake of Hurricane Sandy

Logan B.
New York Homeowners Insurance Rules

New homeowners insurance rules take effect in New York Hurricane Sandy may be a distant memory for some, but many people along the East Coast continue to struggle with the damage the powerful storm caused in late October 2012. Nearly four months after the storm struck, homeowners in several states are still waiting for their claims to be processed by their insurance provider. Many of these claims concern flood insurance, while others are in the realm of homeowners insurance. In New York, lawmakers have instituted new rules that are expected…

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Homeowners insurance checks to be expedited by New York Banks

G. Turner
Homeowners flood Insurance hurricane sandy damage

Financial institutions within the state are making efforts to try to issue the payments more quickly. The New York Department of Financial Services has announced that five of the largest banks and mortgage service institutions within the state have assigned reps to help to make the homeowners insurance cash settlements more quickly throughout this week for the Sandy claims that have remained unpaid. There have been a number of different locations established in which those representatives can be contacted. The reps are available to homeowners insurance customers at various Disaster…

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Homeowners insurance payments in New York finally get approval

Marc
New York homeowners insurance payments

Homeowners insurance continues to be a problem after Hurricane Sandy For the past several months, New York residents have been struggling to recover from the impact of Hurricane Sandy. Though the hurricane struck the state in late October 2012, the damage it has caused continues to linger due to the lack of funds needed for the recovery effort. Some victims of the powerful storm have seen their claims denied by their insurance companies, but the vast majority have experienced delays in their homeowners insurance payments; delays that have slowed recovery…

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Homeowners insurance claims for Sandy aren’t all going smoothly

Hurricane Sandy flood insurance

Some policyholders are struggling while officials remind claimants to be “smart” when they file. New York state officials are recommending that homeowners insurance policyholders be “smart” about the way that they file their claims related to damage from Sandy and are also stating that they should know that they are not required to accept the first offer that is made by their insurers. There are many disagreements between claimants and insurers about issues such as flooding. Many homeowners insurance customers are finding themselves battling out the details of their claims…

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Lenders ease their grip on claims funds for Hurricane Sandy relief

Marc
Hurricane Sandy Damage flood Insurance surcharge

Hurricane Sandy claims payouts to be freed due to agreement with Department of Financial Services Eleven of New York’s major lending companies have reached an agreement with the state’s Department of Financial Services. The agreement involved expediting the claims payouts that are due to homeowners that have been affected by Hurricane Sandy. Many of these homeowners are waiting on their claims payouts in order to begin the recovery process, but insurance companies have been issuing payouts at a sluggish pace for some time. The state government is keen to increase…

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Hurricane Sandy sparks aggressive support from New York officials

Marc
Homeowners flood Insurance

New 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…

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Homeowners insurance rates will likely rise in New York

H. Cutner
Hurricane Sandy Homeoweners Insurance New York

Following the destruction that the state has faced, experts feel that premiums will be headed skyward. Experts are now saying that well after the gas lines have been repaired and electricity has been fully restored, New Yorkers will continue to feel the pain felt from the massive superstorm Sandy as it sends their homeowners insurance premiums higher. Predictions have placed payments from private insurers between $10 and $20 billion for the storm. The damages from the winds, alone – not to mention the flooding – has placed this most recent…

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