The issue with failing Connecticut foundations continues...and has even crossed over state-lines to Massachusetts. We have been following this story because we extended our services to homeowners who need their foundation replaced. It appears that there is a bit of light at the end of the tunnel.
Homeowners will be able to apply for reimbursement through a new state-sponsored fund. The insurance company set up to process claims launched a website Monday that provides guidelines on eligibility, documentation needed, and what is covered.
Connecticut is funding this pool by borrowing money to fund the reimbursements and through a surcharge of $12 on everyone’s homeowners insurance policy.
Regular homeowners' policies have refused to pay out for repairs, leaving some people with hundreds of thousands of dollars of out-of-pocket costs. Expenditures which could be covered by the new fund include raising the house and repairing the foundation, up to a maximum of $175,000 per property.
Kettelle Building Movers will be happy to talk to any of our Connecticut neighbors who need services to raise their homes in order to repair foundations. Contact us to learn more.