New YorkA 20562025-2026 Regular SessionHouseWALLET

Relates to flood insurance limits

Sponsored By: Pamela J. Hunter (Democratic)

Became Law

JUDICIARYRULES

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Homeowners: caps on required flood insurance

Lenders in New York cannot force you to buy flood insurance above the lower of your home’s replacement value or your loan’s principal at the start of the policy year. They also cannot require contents (your personal property) coverage. When flood insurance is required, the lender must give you a clear written notice when it learns you need it. The notice must say the minimum coverage may not pay for all repairs or losses and that you may want more coverage. These rules apply when a lender makes, increases, extends, or renews a loan or line of credit secured by improved residential real property.

When these flood rules start

Most of this law takes effect now. Section one starts on the same date and in the same way as the 2024 real property law update on flood‑insurance limits. Lenders must follow the new rules once that date arrives.

Sponsors & Cosponsors

Sponsor

Pamela J. Hunter
Democratic • House

Cosponsors

David Weprin
Democratic • House
Nader Sayegh
Democratic • House

Roll Call Votes

All Roll Calls

Yes: 61 • No: 0

House vote • 2/11/2025

FLOOR Vote