FEMA trailers..why don’t you let me live in your house and you can live in mine? Mine is brand new, beautiful-has all the bells and whistles, they just don’t all work and have a crummy odor to them too. Oh, did I mention that there’s $125,000 downpay as well as a mortgage? I am a great believer in carrying sufficient ins coverage..I have flood (and so not in a flood zone), carry excess liability and property. My carrier of 30yrs didn’t offer me Defective Materials Insurance when I was spending my nest egg..
You will be there one day too- just outside of retirement-buy NEW so won’t have those repairs or maintenance. This could be YOU, your mom or your kid. This is the most awful delimma that I am facing. Don’t speak so quickly the next time. We are home owners, tax payers-hard workers-family people..NOT free loaders.
Just happened to my house and not yours…LUCKY YOU.
“Homeowners insurers are generally denying coverage based on the standard pollution exclusion in the homeowners’ policy.”
first of all, it’s not pollution to begin with. amazing that the insurance companies are going to have to pay out quite a bit, if it means rebuilding homes with the proper construction equipment… the pollution they are talking about is like the running water, or the factory released pollution. many homeowners are going to probably have to go through a lon process in more ways than one to get this resolved. can’t wait to have the ho policy cover and then the constuctiion companies cover. at least there will be work for those who need it….
Notwithstanding insurance issues, affected homeowners should have a viable cause against the merchants who sold the defective gypsum board and the manufacturers who made the stuff.
Doesn’t anyone remember the tort concept of products liability or the warranty of merchantability?
There is indication that at least some of the manufacturing compaines are OWNED by the Chinese Government. Any unsatisfied judgements should create rights to assert claims against the US Treasury debts owned by the Chinese Government.
The real tragedy would be if our government somehow gave the Chinese “get out of jail” protection much in the same way as they assured the Saudi businessmen and government officials who funded part the 9-11 terrorism attacks would be held immune from prosecution or civil litigation.
OK – everybody with a house that has Chinese Drywall, gut it. No one bu you will pay for it, but that’s ok – should only cost, with plumbing, electrical and heating / cooling systems, about 60% of your home’s relpacement cost.
Good luck with that.
Tthere was a story last week on a P/L case in Louisiana. Correct me if I’m wrong but that judge basically ruled that (a) the corrosion wasn’t the cause of loss but rather WAS the loss, (b) that the pollution exclusion was never written nor intended to apply to emission of noxious fumes from building materials, and (c) that the building materials are not defective because they’re still capable of serving their intended function.
problem, not whether that drywall is serving it’s purpose, because it is, but it’s not! it should not create problems with the rest of the house and it’s building supplies, like wire… fumes, well, even better because we still have not figured out the extent of the fumes to those sleeping from humans to animals… still too much to play with!
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Put ’em in the leftover FEMA trailers!
FEMA trailers..why don’t you let me live in your house and you can live in mine? Mine is brand new, beautiful-has all the bells and whistles, they just don’t all work and have a crummy odor to them too. Oh, did I mention that there’s $125,000 downpay as well as a mortgage? I am a great believer in carrying sufficient ins coverage..I have flood (and so not in a flood zone), carry excess liability and property. My carrier of 30yrs didn’t offer me Defective Materials Insurance when I was spending my nest egg..
You will be there one day too- just outside of retirement-buy NEW so won’t have those repairs or maintenance. This could be YOU, your mom or your kid. This is the most awful delimma that I am facing. Don’t speak so quickly the next time. We are home owners, tax payers-hard workers-family people..NOT free loaders.
Just happened to my house and not yours…LUCKY YOU.
“Homeowners insurers are generally denying coverage based on the standard pollution exclusion in the homeowners’ policy.”
first of all, it’s not pollution to begin with. amazing that the insurance companies are going to have to pay out quite a bit, if it means rebuilding homes with the proper construction equipment… the pollution they are talking about is like the running water, or the factory released pollution. many homeowners are going to probably have to go through a lon process in more ways than one to get this resolved. can’t wait to have the ho policy cover and then the constuctiion companies cover. at least there will be work for those who need it….
Notwithstanding insurance issues, affected homeowners should have a viable cause against the merchants who sold the defective gypsum board and the manufacturers who made the stuff.
Doesn’t anyone remember the tort concept of products liability or the warranty of merchantability?
There is indication that at least some of the manufacturing compaines are OWNED by the Chinese Government. Any unsatisfied judgements should create rights to assert claims against the US Treasury debts owned by the Chinese Government.
The real tragedy would be if our government somehow gave the Chinese “get out of jail” protection much in the same way as they assured the Saudi businessmen and government officials who funded part the 9-11 terrorism attacks would be held immune from prosecution or civil litigation.
OK – everybody with a house that has Chinese Drywall, gut it. No one bu you will pay for it, but that’s ok – should only cost, with plumbing, electrical and heating / cooling systems, about 60% of your home’s relpacement cost.
Good luck with that.
Where’s my Chinese Drywall Bailout money?
Always enjoy your perspectives and level-headed comments. You could be my favorite underwriter!
Tthere was a story last week on a P/L case in Louisiana. Correct me if I’m wrong but that judge basically ruled that (a) the corrosion wasn’t the cause of loss but rather WAS the loss, (b) that the pollution exclusion was never written nor intended to apply to emission of noxious fumes from building materials, and (c) that the building materials are not defective because they’re still capable of serving their intended function.
problem, not whether that drywall is serving it’s purpose, because it is, but it’s not! it should not create problems with the rest of the house and it’s building supplies, like wire… fumes, well, even better because we still have not figured out the extent of the fumes to those sleeping from humans to animals… still too much to play with!
How about making the Chinese pay? We could deduct it from the money that China loaned us.