U.S. Representative Charlie Melancon of Louisiana introduced the Drywall Victims Insurance Protection Act. If passed, insurance companies will be prohibited from canceling or refusing to renew homeowners’ insurance policies on grounds related to Chinese drywall. The bill also restricts insurance companies from altering pricing or coverage due to Chinese drywall related problems.
Policyholders will still maintain the right to sue insurance companies over dropped coverage. Property damage related to Chinese drywall is estimated to be as high as $3 billion.
DHW asks: Have you had homeowners insurance cancelled due to Chinese drywall?
Tags: chinese drywall, congress, drywall victims insurance protection act, insurance
Bill seeks to protect homeowners with Chinese drywall (http://bit.ly/5CUua0) http://bit.ly/5CUua0
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