Call Us 586-991-5066 ☰ ˟
586-991-5066
 
   
  • Main Menu
    • Home Page
    • Quote Inquiry
    • About Us
    • Contact Us
    • Employee Directory
    • Insurance Glossary
    • Location Map
    • Blog
    • Claim Information
    • Privacy Policy
    • Partners Page
Home > Blog > Reconstruction Costs Affecting Homeowners Insurance Premiums
MONDAY, FEBRUARY 28, 2022

Reconstruction Costs Affecting Homeowners Insurance Premiums

We understand that getting your Homeowners Insurance Policy renewal and seeing your premium go up can be upsetting. The last couple of years have taken a toll on everyone and everything, including the cost of labor and materials when it comes to construction.
Attached is a map of the United States showing the percentage that reconstruction rates increased per State from January 2021 to January 2022. Insurance carriers have to take into account the increase in reconstruction costs when it comes to setting rates for Insurance policies.
It is important for you as the Insured to make sure that your Homeowners Insurance policy includes the necessary amount of coverage in the event that your home needed any sort of reconstruction. What it may have cost even 2 years ago to rebuild your home from the ground up, is not what it would cost today, and you do not want to be stuck without enough coverage to rebuild.

 

*Map sourced from Verisk.com*

Posted 2:44 PM

Tags: insurance, atm insurance solutions, insurance agency, insurance agent, construction, homeowners insurance, reconstruction, insurance premium
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020

  • insurance(19)
  • michigan(15)
  • utica(11)
  • insurance agency(9)
  • atm insurance solutions(9)
  • insurance agent(6)
  • auto(5)
  • coverage(4)
  • independent agency(4)
  • business(3)
  • home(3)
  • macomb county(3)
  • small business(2)
  • commercial insurance(2)
  • boat(2)
  • recreational(2)
  • nationwide(2)
  • insurance quote(2)
  • business insurance(2)
  • independent agent(2)
  • cozy(1)
  • citizens(1)
  • summer(1)
  • camper(1)
  • violations(1)
  • spring(1)
  • accident fund(1)
  • family(1)
  • ticket(1)
  • winter(1)
  • mcca(1)
  • utica michigan(1)
  • guard(1)
  • inspection(1)
  • ocean(1)
  • crafts(1)
  • refund(1)
  • truckers(1)
  • vin(1)
  • motorcycle(1)
  • new home(1)
  • safeco(1)
  • boating(1)
  • app(1)
  • boat safety(1)
  • christmas(1)
  • golf cart(1)
  • atv(1)
  • trucking insurance(1)
  • reconstruction(1)

View Mobile Version
Logo
Quick Links
Home About Us Refer A Friend Blog Contact Us Claims Information
Location
45200 Sterritt St
Suite 104
Utica, MI 48317

Ph: 586-991-5066
Text Us: 586-991-5066
Fx: 586-991-5161
Social Social
© Copyright. All rights reserved.
Powered by Insurance Website Builder