New York Governor Cuomo announced yesterday that homeowners will not have to pay hurricane deductibles on their claims.
A hurricane deductible is the amount of money a homeowner is responsible to pay for out-of-pocket before their insurance policy will kick in for hurricane related damage. Moreover, while traditional deductibles are generally flat dollar amounts for fire and theft (i.e. $5,000), with a hurricane deductible its often a percentage of the storm damage, which can be quite high (1% to 15%).
To read the Governor's press release, click here.
Legal Analysts
Popular Posts
-
A new law on landlord's ability to collect legal fees was signed by Gov. Hochul on December 21, 2021 and is effective immediately. The l... -
HELPFUL TIPS FROM THE DEPARTMENT OF STATE (DOS) FOR RENEWING NY REAL ESTATE SALESPERSON & BROKER LICENSES. *** Renewal must be comple...
-
To remind you, this is the case that deputized private citizens to enforce the Texas Heartbeat Act (S. B. 8) and rewarded citizens with a $1... -
Now there is another initiative by New York State to combat discrimination in real estate. Effective as of December 21, 2021 a $30 fee has b... -
Unfortunately, the term shared is such an inexact state of being and only through first deciphering how the driveway is actually owned can ...
-
A licensee (salesperson or broker) can renew their license anytime within two years of the expiration date. Of course they cannot use the...
-
Some employers want to know if they can chose to take the penalty and forego the NY required sexual harassment prevention training, policy a... -
What are the Continuing Education requirements for real estate agents in NY? As of 7/1/2021. All licensees must receive 22.5 hours of contin...
-
As of October 1, 2021, Homeowners Associations will no longer be permitted to blanketly block unit owners from installing solar panels in th... -
NYS law is that the refusal to rent or lease based on "lawful source of income" constitutes actionable discrimination under Execut...
