TRENTON – Legislation sponsored by Senate Commerce Committee Chair Nia H. Gill and Senator Jim Beach to help improve the homeowners insurance claims process for New Jersey residents by ensuring the details of insurance policies are clearly defined for policy holders was approved today by the full Senate. The measure is intended to address the problem that some consumers encountered in the aftermath of Hurricane Sandy when they learned only after the storm that their insurance policy did not include flood insurance.
“Many homeowners who were already dealing with major property damage, and in many cases absolute devastation, in the aftermath of Sandy were dealt another blow when they attempted to recoup their losses through the insurance claims process,” said Senator Gill (D-Essex/Passaic). “In some instances, residents learned their policies did not include flood insurance and, therefore, they would not be compensated by their insurer. We have to make sure that insurance policies are clear and that homeowners know the details of their coverage before a natural disaster strikes. Providing consumers with a brief summary of the policy will help to safeguard them against unnecessary property or monetary loss in the future.”