New York State
Insurance Department


ISSUED: 10/14/99

FOR IMMEDIATE RELEASE

DEPARTMENT UNVEILS NEW HOMEOWNERS
RESOURCE CENTER FOR CONSUMERS

In an effort to provide useful information for consumers, Superintendent of Insurance Neil D. Levin today launched the Department’s first Homeowners Resource Center on its Web site. The new section will help consumers who are shopping for homeowners insurance make the right choices for themselves and their families.

"With hurricane season upon us, it’s a perfect time for New Yorkers to review their homeowners insurance coverage," said Levin. "Whether you’ve just purchased your first home, or your mortgage is fully paid, the new Homeowners Resource Center can help you get the best coverage for your money."

The Center offers a glossary of frequently used terms along with descriptions of the kind of basic policies that companies offer. Consumers will also find recommendations for how much coverage to purchase, how to save money, and what additional products are offered on top of the basic policies. The Center shows how small investments in a home can lead to big insurance savings down the road. Sample premiums for the major companies are listed to help New Yorkers make meaningful price comparisons.

For consumers who have experienced difficulty in obtaining homeowners insurance, the site offers steps homeowners can take to ensure adequate protection. Tips for those in shoreline communities are also available. In addition, information is provided on how to control losses and what to do once a loss occurs. For individuals concerned about cancellations or nonrenewals, the Center helps explain basic consumer rights and obligations.

The Resource Center at www.ins.state.ny.us is linked to the Department’s 1999 Homeowners Guide, which is also available on the Web site. To obtain a copy of the guide in New York, call 1-800-342-3736.


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