Don't Buy Drywall Made In China: Insurers Dropping Chinese Drywall Policies

The Associated Press (See ABC news clip)
WEST PALM BEACH, Fla. -- James and Maria Ivory's dreams of a relaxing retirement on Florida's Gulf Coast were put on hold when they discovered their new home had been built with Chinese drywall that emits sulfuric fumes and corrodes pipes. It got worse when they asked their insurer for help - and not only was their claim denied, but they've been told their entire policy won't be renewed. Thousands of homeowners nationwide who bought new houses constructed from the defective building materials are finding their hopes dashed, their lives in limbo. And experts warn that cases like the Ivorys', in which insurers drop policies or send notices of non-renewal based on the presence of Chinese drywall, will become rampant as insurance companies process the hundreds of claims currently in the pipeline.
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Posted by Editor at October 16, 2009 01:14 AM