I don’t think anyone expects insurers to pay for “defective products” but the policies these insurers have sold appear to cover “ensuing” damage the defective product has caused, and “reasonable steps” homeowners are REQUIRED to take to protect their property from further damage, like raising the structure so the defective material can be replaced, and the additional expenses incurred for temporary housing while the repairs are being made.
Is there any argument that homeowners policies cover damage resulting from “defective material or products”? I’m not sure the “bravos” are in order just yet.
Given the fact that the State of CT Offers up to $175,000 toward replacing a crumbling foundation, it seems only fair that the insurance company cover the difference of what the total cost will be. The homeowner is at the mercy of the insurance company since most homeowners are victims of this horrible Situation as most homeowners cannot afford to pay the difference out of pocket & pay a mortgage insurance, etc.
This is something the buyers of the home were not aware of and appears years later, thus they purchase coverage to insure the home in the event a fluke situation like this happens. It is suggested to have it repaired sooner than later to protect your largest investment. Hello? If your house burned down ins. Cos. Would pay to repair or rebuild. They are both unexpected situations that should be covered.
Insurance cos. Pay for unexpected damage to one’s home. After all, when thE buyers Purchase a new or used home and there is no evidence of damage or anything wrong with the home they are purchasing in good faith. Years later this crumbling foundation surfaces. The fact that the State of CT offers to contribute or help toward replacing The foundation many homeowners are left to contribute or pay for the difference as to what the cost is actually going to cost. Many folks don’t have that or can’t afford to refinance. This is where homeowners Are victims not only of a crumbling foundation that they knew nothing about but the fact that insurance cos. Are not willing to pay the difference between what the State is offering and what the raising of the foundation really costs. If your home burned down, who do you call for a claim to rebuild and replace the home?
Your foundation is found to be crumbling, homeowner should be able to rely on their insurance company to Correct, and replace The foundation portion of what the State doesn’t pay.
We pay a dear premium for insurance coverage, we deserve to be treated fairly and help us out.
Bravo for Travelers, Hartford and Liberty
Will they pay for all the toxic Chinese drywall as well?
I don’t think anyone expects insurers to pay for “defective products” but the policies these insurers have sold appear to cover “ensuing” damage the defective product has caused, and “reasonable steps” homeowners are REQUIRED to take to protect their property from further damage, like raising the structure so the defective material can be replaced, and the additional expenses incurred for temporary housing while the repairs are being made.
Is there any argument that homeowners policies cover damage resulting from “defective material or products”? I’m not sure the “bravos” are in order just yet.
Given the fact that the State of CT Offers up to $175,000 toward replacing a crumbling foundation, it seems only fair that the insurance company cover the difference of what the total cost will be. The homeowner is at the mercy of the insurance company since most homeowners are victims of this horrible Situation as most homeowners cannot afford to pay the difference out of pocket & pay a mortgage insurance, etc.
This is something the buyers of the home were not aware of and appears years later, thus they purchase coverage to insure the home in the event a fluke situation like this happens. It is suggested to have it repaired sooner than later to protect your largest investment. Hello? If your house burned down ins. Cos. Would pay to repair or rebuild. They are both unexpected situations that should be covered.
Insurance cos. Pay for unexpected damage to one’s home. After all, when thE buyers Purchase a new or used home and there is no evidence of damage or anything wrong with the home they are purchasing in good faith. Years later this crumbling foundation surfaces. The fact that the State of CT offers to contribute or help toward replacing The foundation many homeowners are left to contribute or pay for the difference as to what the cost is actually going to cost. Many folks don’t have that or can’t afford to refinance. This is where homeowners Are victims not only of a crumbling foundation that they knew nothing about but the fact that insurance cos. Are not willing to pay the difference between what the State is offering and what the raising of the foundation really costs. If your home burned down, who do you call for a claim to rebuild and replace the home?
Your foundation is found to be crumbling, homeowner should be able to rely on their insurance company to Correct, and replace The foundation portion of what the State doesn’t pay.
We pay a dear premium for insurance coverage, we deserve to be treated fairly and help us out.