Questions for the construction experts. We have had a couple of leaks from the outside of the home into our unfinished basement. in examining the problem and looking for solutions, I have had a couple of stucco subs tell me that not only are my windows improperly flashed, but the previous owner having painted the stucco basically ruined it, trapping moisture on the inside (I am told paint will seal water on the inside of the stucco accelerating the breakdown of the paper behind the stucco).

Long story short, I may be staring a massive project in the face in the form of a complete tear down and reinstall of all the stucco.

Does this jive with anyone's understanding of stucco? Will paint really do this?

And, insurance experts, is there a snowball's chance in hades that home owners insurance may cover something like this?