New legislation signed into law by New York Governor Eliot Spitzer will generate more mail for Empire State homeowners, but it’s not junk mail.
Having decided that a single notification generally given when initially purchasing homeowners insurance is not enough, the State of New York will now be sending annual notices to those who own homes reminding them of three things:
- Homeowners insurance does not include flood insurance.
- Flood insurance is available to those who live in flood zones.
- Contact the National Flood Insurance Program for more information
Martin Koles, president of the Professional Insurance Agents of New York State, an organization which supports the bill, says, “”An annual notice will give our members’ clients a repeated opportunity to consider the risks posed to their property by flooding.” He added that the single notification homeowners currently received is often overlooked, or lost among the paperwork involved in a new policy or new home purchase.
The new notification law supercedes the existing regulation.