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Free Inflation Calculator for Homeowners Insurance
You have to worry about rising construction costs, even if your home has been built for years! See why
By: SmartFinancial Insurance
Consumer inflation rose by 7.0% last year. If you think the inflation at the supermarket is bad, it's mild compared to the record increases in construction costs.
Why does that matter if you're not building a home? Well, if you're a homeowner, those construction costs also affect the price of any home repairs you may need. While you may count on insurance to cover damage to your home, soaring repair costs mean you may need to look at your coverage limits to see if they suffice.
The resulting coverage gap could cost you dearly out-of-pocket should you need to file an insurance claim to repair damage to your home from bad weather, a fire or other covered misfortune.
To make sure you're protected, this article (https://smartfinancial.com/