Though the final number has yet to be determined, recent reports state that the total cost of damages from Chinese drywall could reach $25 billion. Most reports place the final number somewhere between $15 and $25 billion, while others state that after repairs and litigation costs, the $25 billion mark could be surpassed.
What’s also unclear is the percentage of this final number that will be covered from property and casualty insurance. This means builders, suppliers and manufacturers of the defective drywall should prepare for numerous lawsuits in the near future from homeowners facing thousands of dollars in damages and repair costs.
I found an article online recently which details the estimated costs associated with the Chinese drywall problem, and those who are most likely to be affected by the current litigation. You can read the full article here.
If you suspect your home may be built with defective Chinese drywall, contact us here for a free no obligation case review.