Inflation affects more than the price of everyday goods. Rising costs for construction, labor, vehicle parts, equipment, and personal property can also change the amount required to repair or replace insured assets after a loss. Replacement Costs Change The amount it cost to rebuild a home, replace business equipment, or…
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Home Value Check: Is Your Coverage Keeping Up?
As home values and rebuilding costs continue to change, many homeowners may not realize their insurance coverage hasn’t kept pace. Even without major changes to your home, the cost to rebuild today may be significantly higher than when your policy was first written. Replacement Cost vs. Market Value Your home’s…
