Realty Check

Homeowners Hit by Sandy May Save Thousands of Dollars

Share

The fact that was downgraded to a "Post-Tropical Cyclone" before it made landfall on the East Coast will save homeowners potentially thousands of dollars in home insurance deductibles. 

Getty Images

New Jersey's Department of Banking and Insurance Acting Commissioner Ken Kobylowski communicated that to the insurance industry Tuesday night and New York's Governor Andrew Cuomo announced the same Thursday morning.

"Homeowners should not have to pay hurricane deductibles for damage caused by the storm and insurers should understand the Department of Financial Services will be monitoring how claims are handled," Governor Cuomo said in a release. (Read More: .)