Over the past several years, construction material prices and labor shortages have significantly increased rebuilding costs across Texas. Many homeowners are unknowingly insured at outdated limits that no longer reflect current market realities.
If a total loss were to occur today, would your policy truly rebuild your home to its prior condition?
Why Replacement Cost Matters
Replacement cost coverage is designed to rebuild your home at current construction prices, not what you originally paid for the property.
However, if your dwelling limit hasn’t been reviewed recently, you may be insured at yesterday’s prices in today’s market.
What’s Driving Inflation?
• Labor shortages
• Supply chain disruptions
• Increased lumber and steel prices
• Updated building codes
These factors mean rebuilding costs have risen significantly, even in the last 24 months.
The Risk of Being Underinsured
If your coverage limit falls short of rebuilding costs, you may face substantial out-of-pocket expenses. Coinsurance penalties can also reduce claim payouts during partial losses.
Caring Makes the Difference
At Parkway Insurance Group, we understand that your home represents more than walls and a roof, it represents stability and security for your family.
That’s why we conduct proactive coverage audits to ensure your replacement limits reflect today’s construction environment, not outdated assumptions.
Protect What Matters Most: Contact us today at info@parkwayinsurancegroup.com or calling us at +1 281 558 1991 to review your dwelling coverage before storm season intensifies.
