A bill in the state legislature aimed at making insurance companies cover the cost of crumbling concrete basements has died.
The judiciary committee voted down Senate Bill No 518 24-16 Monday afternoon.
The bill would have also raised more money to help homeowners impacted by crumbling foundations by adding a $20-per-year surcharge on all renters’ and homeowner’s insurance policies. Last session the General Assembly agreed to bond up to $100 million over five years to help hundreds of people with crumbling basements.
"While I'm disappointed that legislation aimed at supporting homeowners failed to make its way out of committee, I remain committed to those impacted by this devastating epidemic. In the meantime, I will continue my work around the establishment of the captive insurance company which will provide real relief to homeowners and remain persistent around bringing insurance companies to the table to be a part of the solution," State Rep. Jeff Currey (D-East Hartford), a member of the Judiciary Committee who voted in favor of the bill, said in a statement.
The insurance industry said forcing it to cover crumbling basements would have doubled premiums statewide.
At last check, the Department of Consumer Protection said 685 people have filed complaints about crumbling basements. Many people following the situation closely believe that number will go up by hundreds, if not thousands.
