Chinese drywall owners may lose property insurance

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Some home owners plagued by the obvious troubles caused by defective Chinese drywall — foul smells, corroded metal fixtures and possible health problems — now face the possible loss of their property insurance. Many insurers are denying claims because the homeowners policies they’ve issued don’t cover contamination or building material defects. But existing damage is grounds for canceling a policy, which Citizens Property Insurance, the state-run insurer, has done in some instances.

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