We monitor inflation trends in building materials regularly and work to reflect an adequate cost to rebuild part or all of your home in the event of damage to your property. Review your Coverage A (the part of your policy limit dedicated to your home) amount with your independent agent to ensure you are staying ahead of inflation trends and that you’ve considered the cost of any unique features of your home.
Consider the percentage change in material costs from January 2020 to December 2022, according to www.bls.gov.*
*Costs are subject to change and may be higher or lower in your geographic region. Cost increases cited were valid as of December 2022. Based on the national average in the Producer Price Indexes.
Ways to Reduce Your Homeowner Premium
When you take extra steps to protect your home, you not only reduce the risk of incurring an inconvenient claim, but you may be eligible for premiums credits on your home, condo, or tenant policy. (Credit availability varies by state, and premium credits may differ based on the characteristics of the property or location).