New York S 6356: Prohibits increases in rates of homeowners' insurance in excess of twenty-five percent per year

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S06356 Summary:

BILL NOS06356 

&nbsp

SAME ASSAME AS A04188

&nbsp

SPONSORLIU

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §2351-a, Ins L

&nbsp

Prohibits increases in rates of homeowners' insurance in excess of twenty-five percent per year except where agreed to in the policy.

Go to top S06356 Actions:

BILL NOS06356 

&nbsp

03/11/2025REFERRED TO INSURANCE

01/07/2026REFERRED TO INSURANCE

Go to topS06356 Committee&nbspVotes:

Go to topS06356 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS06356 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6356

 2025-2026 Regular Sessions

 IN SENATE

 March 11, 2025
 ___________

 Introduced by Sen. LIU -- read twice and ordered printed, and when
 printed to be committed to the Committee on Insurance

 AN ACT to amend the insurance law, in relation to prohibiting increases
 in rates of homeowners' insurance in excess of twenty-five percent per
 year

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The insurance law is amended by adding a new section 2351-a
 2 to read as follows:
 3 § 2351-a. Homeowners' insurance policies; rate increases. (a) For the
 4 purposes of this section, "homeowners' insurance" means a contract of
 5 insurance insuring against the contingencies described in subparagraphs
 6 (A), (B) and (C), or (B) and (C) of paragraph two of subsection (a) of
 7 section three thousand four hundred twenty-five of this chapter and
 8 which is a "covered policy" of personal lines insurance as defined in
 9 such paragraph; provided, however, that the coverages provided under
 10 such subparagraphs (B) and (C) shall not apply where the natural person
 11 does not have an insurable interest in the real property, or a portion
 12 thereof, or the residential unit in which such person resides.
 13 (b) No insurer shall increase the rate of homeowners' insurance such
 14 that the rate is more than one hundred twenty-five percent of the rate
 15 of the same policy from one year prior unless agreed to by the policy-
 16 holder prior to the policy being issued, renewed, modified, altered or
 17 amended.
 18 § 2. This act shall take effect on the ninetieth day after it shall
 19 have become a law and shall apply to all policies issued, renewed, modi-
 20 fied, altered or amended on or after such effective date.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07611-01-5

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps