The answer is no.
Gov. Cuomo recently directed all insurance companies who ensure homeowners in the state of New York to waive their “hurricane deductible.” This saves property owners tremendous amounts of money.
A hurricane deductible is typically a percentage of the assessed value of your home. This means that before the insurance company would pay a single penny, you would have to pay a sizable amount of money out of your own pocket to pay for repairs before the insurance company would begin paying.
You will of course be required to meet your standard deductible, which you will find in your declaration page of your homeowners insurance policy. This is an excellent idea on Gov. Cuomo's behalf and I applaud his efforts to help damaged property owners following the massive destruction that occurred from hurricane Sandy here in New York.