Res. No. 395
Resolution calling on the New York State Legislature to pass, and the Governor to sign, S.6356/A.4188 prohibiting increases in rates of homeowners’ insurance in excess of twenty-five percent per year
By Council Members Morano and Louis
Whereas, Homeowners’ insurance is essential to protect residents’ homes, belongings, and financial assets from unexpected damage or theft; and
Whereas, It is important that New York City homeowners are able to insure their property as the City experiences increasingly frequent and severe storms such as Hurricane Ida, which damaged approximately 33,500 buildings in the City in September 2021, and Tropical Storm Ophelia, which inundated the City with 8.65 inches of rainfall in September 2023, resulting in flooded basements in need of repair; and
Whereas, The cost of home insurance nationwide rose about 8 percent faster than inflation between 2018 and 2022, according to a 2025 report published by the U.S. Department of the Treasury’s Federal Insurance Office; and
Whereas, New York homeowners have experienced average insurance premium increases of over $1,000 since 2020 and almost half a million New York homeowners are completely uninsured, according to Consumer Reports; and
Whereas, S.6356, sponsored by Senator John Liu and pending in the New York State Senate, and companion bill A.4188, sponsored by Assembly Member Nader Sayegh and pending in the New York State Assembly, would prohibit increases in rates of homeowners’ insurance greater than twenty-five percent per year except when agreed to in the policy; and
Whereas, Establishing a reasonable limit on increases to homeowners’ insurance premiums would foster predictability and allow homeowners to plan their budgets; now, therefore, be it
Resolved, That the Council of the City of New York calls on the New York State Legislature to pass, and the Governor to sign, S.6356/A.4188 prohibiting increases in rates of homeowners’ insurance in excess of twenty-five percent per year.
NEM
LS # 21774
3/11/2026