PUBLIC COMMENTARY: It's time to fix windstorm coverage in New York insurance policies

As we look at the damage caused by Hurricane Ian in Florida and South Carolina-and as we assess the damage caused by Hurricane Nicole-we say our prayers and think about how New Yorkers would fare in this type of disaster. The answer lies within each homeowners insurance policy's definition of windstorm.

In New York state, homeowners insurance companies effectively use the same definitions for fires, vandalism, etc. However, while the National Weather Service has a clear definition of a hurricane, the insurance industry uses over 100 definitions of windstorm. Which definition your policy uses depends on your insurance company, and it could impact the amount you have to pay in the event of wind damage greatly because of the policy's higher windstorm deductible. If the windstorm wind speed doesn't meet the definition of windstorm outlined in the policy, you will be charged your standard deductible-typically $500 to $2, 000. However, if the storm meets the defi-nition of windstorm-due to the speed of the wind-your deductible would increase to a percentage (often 5%) of the value of the home. For example: If your home is valued at $500, 000, your 5% windstorm deductible is $25, 000.

Here's the problem: If your neighbors have policies with different insurance companies, they may only have to pay their standard deductible.

New York State needs a standard definition of windstorm so all homeown- ers are treated the same and they can understand what they may have to pay following a hurricane.

The solution: Establish a standard definition for windstorms that would apply to all homeowners policies with a windstorm deductible. Defining windstorm for the purposes of insurance coverage would not upend the underwriting of coastal homeowners policies for carriers. Instead, it would make it easier for New Yorkers to understand when a windstorm deductible may apply.

Ask your elected officials if they will be a part of the solution. Last legislative session, a bill that would standardize the windstorm definition passed in the state Assembly, but it did not pass in the state Senate. If you have any questions about the windstorm deductible or other insurance matters, please contact your professional insurance agent.

The writer is a Financial Services and Investment Adviser Representative for MassMutual and the newly elected President-Elect of the Professional Insurance Agents of New York.