Insurance companies trying to take advantage of Sandy victims - Dallas News | myFOXdfw.com

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>>

  • Schumer proposes ban on 10 flame retardants

    Schumer proposes ban on 10 flame retardants

    Sunday, September 14 2014 10:42 PM EDT2014-09-15 02:42:47 GMT
    Gov. Andrew CuomoGov. Andrew Cuomo
    Senator Charles Schumer says a Duke University study has found flame retardants in upholstered furniture and children's products like toys, pajamas and pillows to be highly toxic. The chemicals have also been linked to developmental delays and rare cancers in firefighters as well as cancers and hormone disruption in children.
    Senator Charles Schumer says a Duke University study has found flame retardants in upholstered furniture and children's products like toys, pajamas and pillows to be highly toxic. The chemicals have also been linked to developmental delays and rare cancers in firefighters as well as cancers and hormone disruption in children.
  • 3 plead guilty in $1.3M trading card theft

    3 plead guilty in $1.3M trading card theft

    Saturday, September 13 2014 3:20 PM EDT2014-09-13 19:20:23 GMT
    New York State NewsNew York State News
    Three former employees of a western New York trading card business have admitted stealing $1.3 million by taking advantage of a flaw in the computer software their employer used.
    Three former employees of a western New York trading card business have admitted stealing $1.3 million by taking advantage of a flaw in the computer software their employer used.
  • Ceremony to mark 43 years since Attica prison riot

    Ceremony to mark 43 years since Attica prison riot

    Saturday, September 13 2014 2:46 PM EDT2014-09-13 18:46:23 GMT
    Attica Correctional Facility. (AP)Attica Correctional Facility. (AP)
    Hundreds of personal items collected after the nation's deadliest prison riot will be returned to their owners and families as they mark the 43rd anniversary of the uprising.
    Hundreds of personal items collected after the nation's deadliest prison riot will be returned to their owners and families as they mark the 43rd anniversary of the uprising.
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices