Many homeowners underestimate the impact of inflation on the cost of rebuilding their homes.
) - Homeowner’s policies generally come with an inflation guard. Insurance carriers are consistently running actuary numbers and applying those updates to renewals.
“Inflation can significantly affect the cost of construction materials, labor, and overall rebuilding expenses. If homeowners do not adjust their coverage to account for inflation, they may be underinsured in the event of a disaster or major loss,” said Brennan.
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