In the past, we discussed whether Homeowners Insurance will be liable for Chinese Drywall damages in Louisiana. While the jury is still out on this issue, we’ve posted on a number of occasions that the courts may very well find coverage for chinese drywall losses within homeowner insurance policies.
Now, many are reporting that a guest lecturer at the National Association of Public Insurance Adjusters just recently predicted that courts will find at least some coverage for Chinese Drywall damages (As per Merlin Law Group). Earlier in the year, the folks at Merlin Law Group also posted that the FC&S Bulletin’s June 2009 edition also indicated that there would be coverage for Chinese Drywall losses under homeowner insurance policies.
So, while it’s far from certain that Chinese Drywall damages will be covered by standard homeowner insurance policies…it’s also far from certain that courts will disallow such coverage. One thing is certain: insurance companies have largely taken the position that the policies do not cover the damages, and are denying these claims across the board.
This begs the question: what is the next step?
In Louisiana, most policy holders have just 1 year to file suit for insurance benefits. The time period begins from when the policy holder knew or should have known of the occurrence or loss.
News of Chinese Drywall problems broke across Louisiana between January and March 2009. Arguably, those with Chinese Drywall “should have known” of the problem starting at this time. To be safe, homeowners with Chinese Drywall are facing a very important deadline as the new year approaches.
With so many questions about who is liable for this Chinese Drywall mess, it would be quite devestating for homeowners who may have a viable claim against their homeowners insurance, to lose that claim because they failed to take the necessary action before the alloted time expired.
News around the country is that the insurance industry may be liable for these Chinese Drywall losses. If you have Chinese Drywall losses, you should consider filing suit to enforce your claim for coverage….or risk losing the opportunity.