June 1 is the beginning of the 2012 hurricane season.
According to the National Hurricane Center, damages from Hurricane Irene alone totaled $18.7 billion last year. When a hurricane does hit New York State, many homeowners will be surprised to find out that, while their home may have incurred similar damage to the one next door, the deductible for the storm damage with their homeowner’s insurance is hundreds or even thousands of dollars more than that of their neighbors.
Fortunately, the state Assembly has passed a bill, A.3282, to standardize the conditions that trigger hurricane deductibles — but the companion Senate bill, S.3387, awaits action.
Nobody likes to learn their deductible is larger than the other guy’s, or that their policy doesn’t cover the same damage after a storm. The last thing our state’s homeowners need is an unexpected disappointment after a hurricane.
As the hurricane season begins, I urge your readers to call their state senators and ask them to mark the occasion by passing S.3387.
The writer is president of Lyons General Insurance.