Insurers Drop Chinese Drywall Victims

Florida home owner policyholders who made claims related to defective Chinese drywall are being told by their insurers that if the damage to their homes isn’t repaired in six months, their policies won’t be renewed. Insurers sending out those notices include Citizens Property Insurance Corp., the state-owned nonprofit, which is Florida's largest home insurer. Citizens says it hasn’t paid any drywall-related claims because there are policy exclusions for pollution and builder defects, but the corrosion apparently caused by the drywall could lead to future claims for fire or water leaks. Replacing the defective drywall and the damaged electrical wires and plumbing costs an average of $80,000 to $100,000 per home, experts estimate.

Click here to enter the Tampa Realtors MLS (updated daily)
Register to receive an email every morning of today's new listings
Visit my website or contact me by email