Chinese Drywall Homeowners Dropped by Insurance Carriers

Chinese drywall has now affected more than just the buildings built with the contaminated material. Two insurance companies, Citizens and Universal North America, have dropped property insurance coverage for some homes affected by the Chinese drywall. In some instances, homeowners have been told that they have six months to fix the Chinese drywall problem or their property insurance won’t be renewed. This poses a difficulty for the homeowner since no remediation plan has been formulated in spite of the fact that some builders have already started remediation efforts.
While homeowners suffer, the Consumer Products Safety Commission is investigating the problem which is estimated to affect at least 100,000 homes in the US.