NY homeowners won't have to pay storm deductible - New York News

NY homeowners won't have to pay storm deductible

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ALBANY, N.Y. (AP) - State officials have determined New York homeowners won't have to pay an insurance deductible in seeking compensation for damage from superstorm Sandy.

Laws in 15 states including New York allow officials to waive the 1% to 5% deductible payment if a storm is downgraded from a hurricane. Sandy was downgraded from a hurricane just before making landfall Monday on the New Jersey coast.

Gov. Andrew Cuomo and Financial Services Director Benjamin Lawsky announced Thursday that the payment would be waived in New York.

Lawsky has informed insurance companies of the decision that could save a homeowner thousands of dollars.

The state has a disaster hotline to help. The hotline number is 800-339-1759 and is staffed weekdays and Saturdays from 9 a.m. to 4 p.m.

Complaints can be filed online at http://www.dfs.ny.gov/consumer/fileacomplaint.htm .

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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