Was Superstorm Sandy a hurricane or a post-tropical storm? The difference on your checkbook could be immense. If Sandy is classified as a post-tropical storm, which the NOAA has said it was when it barreled into New Jersey, homeowners insurance coverage would nick them for about $1000 with the insurance companies picking up the rest.
Here's where the insurance companies play their usual sleazy role. If perchance Sandy is classified as a hurricane when it hit land, there is a deductible that can be approximately $20,000. Guess what insurance companies are ACTIVELY LOBBYING the NOAA to classify Sandy as? That's right, more than likely the money you paid into an insurance company is being used right now to lobby against your interests. Insurance companies are actually asking the NOAA to deny science for their bottom lines. Amazing isn't it? We said it was amazing, not surprising. Senator Schumer is fighting back against any reclassification. Said Schumer: “The reason you have insurance is that they’ll stand by you when you have got in real trouble and we all know how many people have. If the insurance company tries to say ‘oh, it was a hurricane and you’ve got to pay the first $20,000 or so,’ fight back or call the state insurance department or any of your local officials.”