New York Property Insurance Underwriting Association (NYPIUA) basic coverage and related premium discounts

How it works

If you are unable to find an insurance company that will sell you a homeowners or tenants policy, DFS says special insurance programs are available. One of them is the New York Property Insurance Underwriting Association (NYPIUA), which is an association of all insurance companies that sell fire insurance in New York State.

What the coverage includes

NYPIUA’s Basic coverage form generally provides fire and extended coverage for wind (including hurricane), hail, explosion (except steam boilers), riot, civil commotion, aircraft, vehicles, smoke, vandalism, and malicious mischief.

For a higher premium, Broad Form coverage is available. It includes everything in Basic coverage plus:

• property damage by burglars (not theft of property)
• falling objects
• weight of ice, snow, or sleet
• accidental discharge of water or steam
• sudden cracking of a steam or hot water heating system
• freezing
• sudden damage from artificial electric currents

Amounts and matching

The page does not give a grant, rebate, or dollar subsidy amount. It describes insurance coverage and premiums instead.

Special deductible rules

NYPIUA policies that include Broad Form coverage are subject to a 2% hurricane deductible for insured properties in these counties:

• Bronx
• Kings (Brooklyn)
• Nassau
• Queens
• Richmond (Staten Island)
• Suffolk
• Westchester

This deductible applies to hurricane losses 12 hours before and after a hurricane category 2, 3, 4, or 5, as declared by the National Weather Service, makes landfall anywhere in New York State.

Coverage limits and other notes

NYPIUA policies are generally offered on an actual cash value basis. However, policies written with a voluntary market policy that includes an approved “wraparound” endorsement can provide building coverage on a replacement cost basis.

NYPIUA policies do not include liability, flood, or theft coverage. DFS also says coverage through NYPIUA is limited and sold at a higher premium than voluntary market coverage, so homeowners and their agents should try to get insurance from a voluntary insurer first.

How to apply

The page does not provide a hardening application process. It directs homeowners to contact NYPIUA or use DFS guidance if they cannot obtain standard coverage.

Timing and deadlines

No application deadline is listed.