InsuranceLecturer — In the state of New York homeowners and renters insurance is big business. With over 200 companies available all offering a variety of different insurance plans, it is essential to take the time to shop around for the best policy that fits your needs.
One important New York State rule to keep in mind when shopping for insurance is that insurance companies are allowed to drop existing customers based on the breed of dog they own.
If the insurance company in New York feels that your dog could pose a threat to paying liability insurance, they have the right to deny you insurance.
There is no specific list of breeds under New York law either, so each individual insurance company sets their own standards for which breeds will not be insured.
The rules are also in effect even if the particular animal shows no particular history of violence, behavioral problems, or even with a show of vaccinations or a veterinarian’s note.
Of course many of the same dogs continue to appear on the same insurance company lists in New York and often include large breed dogs or stereotypically aggressive dogs such as an American Pit Bull Terrier, German Shepherd, Rottweiler, Doberman Pincher, and even Great Danes and Saint Bernards.
Especially for those homeowners who are living in crowded city areas, these rules are especially stringent, since there is a likelihood of running into another neighbor or passerby.
Another important New York state rule to keep in mind is that New York insurance law does not require homeowner’s insurance policies to cover pollution damage. This can be a particular problem for those New York residents living in the crowded city where pollution may become a problem.
Not covering pollution in the insurance policy could range from a discharge of oil from a homeowner’s or building oil tank to hazardous chemicals from a nearby factory or work site.
If you feel you may be moving into a home where pollution insurance would be beneficial, be sure to discuss amending your homeowner’s insurance policy to include this coverage.
Keep in mind that New York state insurance laws also allow the homeowners insurance company up to 60 days to cancel an insurance policy if the cancellation notice specifically states the reason for cancellation.
After this 60 day period the insurance company is no longer capable of canceling the insurance policy for a three year period, unless they have valid reason, such as a certain breed of dog or nonpayment by the policy holder.
Be sure to check with your insurance company to ensure that you understand the rules and regulations surrounding your New York insurance policy.
There are only a few specific reasons that the insurance company can cancel a policy after 60 days, but you want to be certain you do not violate the conditions that would cause termination of your policy.
If you plan to live in one of the five burroughs of New York City, keep in mind that there are different insurance rating systems for each separate burrough.
This means that you could live in Manhattan in the same size and shape condominium as you previously had in Harlem and could pay a considerable amount more or less for homeowners insurance.
This is because New York State estimates insurance rates by a number of different factors including the fire protection in the area, the fire resistance of the building, as well as the amount of crime and vandalism in an area.
If you haven’t decided where to move within New York City yet, it may be beneficial to spend time getting estimates from insurance companies before you decide on a home. There could be a tremendous difference in your yearly homeowner’s insurance from one New York neighborhood to the next.
