File #: Res 0395-2026    Version: * Name: Prohibiting increases in rates of homeowners’ insurance in excess of twenty-five percent per year. (S.6356/A.4188)
Type: Resolution Status: Committee
Committee: Committee on Consumer and Worker Protection
On agenda: 3/26/2026
Enactment date: Law number:
Title: 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
Sponsors: Frank Morano
Council Member Sponsors: 1
Attachments: 1. Res. No. 395, 2. March 26, 2026 - Stated Meeting Agenda

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 Member Morano

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