Insurance companies trying to take advantage of Sandy victims - New York News

Insurance companies trying to increase deductibles for Sandy victims

Posted: Updated:
MYFOXNY.COM -

Senator Charles Schumer (D-NY) says he has warned insurance companies not try to skirt their obligations to their policyholders.  

Schumer held a Sunday press conference claiming reports indicate that these companies are pushing to have the storm reclassified as a Hurricane, rather than a "post tropical cyclone." That storm reclassification that would increase deductibles for homeowners by tens of thousands of dollars if successful.  

Schumer said that homeowners across the New York area have paid thousands of dollars in premiums and that they should be receiving world-class service from the companies in this time of crisis. 

"Superstorm Sandy left many homeowners' lives in shambles, and private insurance companies - who have collected thousands and thousands of dollars in premiums - should be doing everything possible to help them clean up the mess and rebuild, not trying to skirt their obligations," Schumer said. "The state and federal government both classified this storm as a post tropical cyclone, not a hurricane, and insurance companies shouldn't try to alter reality to save money on the backs of homeowners." 

Homeowner's insurance policies frequently have special deductibles for storms classified as "hurricanes." In almost all cases, these deductibles are far higher than those for other types of storms. A typical hurricane deductible is between 1% and 5% of the value of a home, amounts that easily run into the tens of thousands of dollars in expensive real estate markets such as the New York region. Non-hurricane deductibles, on the other hand, are usually a fixed amount, oftentimes less than $1,000.

  • New York State NewsNew York State NewsMore>>

  • Brand names in NY standardized tests vex parents

    Brand names in NY standardized tests vex parents

    Monday, April 21 2014 6:43 AM EDT2014-04-21 10:43:41 GMT
    "Just Do It" has been a familiar Nike slogan for years, but now parents are wondering what it was doing on some of New York's Common Core standardized English tests.
    "Just Do It" has been a familiar Nike slogan for years, but now parents are wondering what it was doing on some of New York's Common Core standardized English tests.
  • Fort Drum soldier fatally wounded in Afghanistan

    Fort Drum soldier fatally wounded in Afghanistan

    Thursday, April 17 2014 3:12 PM EDT2014-04-17 19:12:36 GMT
    U.S. Army photoU.S. Army photo
    A soldier from Fort Drum in northern New York has died from wounds suffered in combat in Afghanistan, the Department of Defense announced. Spc. Kerry M. G. Danyluk, 27, of Cuero, Texas, was wounded during a firefight with insurgents in Pul-e-Alam, Logar province on April 12, 2014, the Pentagon said. The military flew him to Landstuhl Regional Medical Center in Germany, where he died three days later.
    A soldier from Fort Drum in northern New York has died from wounds suffered in combat in Afghanistan, the Department of Defense announced. Spc. Kerry M. G. Danyluk, 27, of Cuero, Texas, was wounded during a firefight with insurgents in Pul-e-Alam, Logar province on April 12, 2014, the Pentagon said. The military flew him to Landstuhl Regional Medical Center in Germany, where he died three days later.
  • Harlem politician Basil Paterson dead

    Harlem politician Basil Paterson dead

    Thursday, April 17 2014 8:41 AM EDT2014-04-17 12:41:03 GMT
    Basil Paterson, the father of former New York Governor David Paterson, died Wednesday night at the age of 87. The trailblazing Democratic politician from Harlem served in the state Senate, as deputy mayor of New York City, as secretary of state of New York and was appointed by the New York Senate as a commissioner of the Port Authority of NY and NJ. In 1970, he ran for lieutenant governor, the second black nominee of a major party for statewide office in New York.
    Basil Paterson, the father of former New York Governor David Paterson, died Wednesday night at the age of 87. The trailblazing Democratic politician from Harlem served in the state Senate, as deputy mayor of New York City, as secretary of state of New York and was appointed by the New York Senate as a commissioner of the Port Authority of NY and NJ. In 1970, he ran for lieutenant governor, the second black nominee of a major party for statewide office in New York.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices