When Hurricane Sandy hit in October 2012, it impacted 24 states, including the entire eastern seaboard from Florida to Maine and as far west as Michigan and Wisconsin. It damaged hundreds of thousands of homes and businesses, forced thousands of people into shelters, and wreaked havoc on vital infrastructure. Overall damage estimates in the U.S. are around $65 billion, making Sandy the second costliest hurricane in U.S. history after Katrina.
Most New Jersey and New York homeowners never imagine that their dream homes may become nightmare insurance claims. But unfortunately, that’s exactly what happens to some homeowners who insure their high value homes with standard homeowner’s insurance policies.