In this episode our agent, Seth Arruda talks about some of the serious effects of inflation and construction costs on property insurance. The cost of building has risen and we’re seeing that reflected in new construction, but it can also effect the cost to rebuild, especially after a large catastrophic wildfire.
Update: lumber prices have come down recently but that doesn’t mean they will return to pre-pandemic prices. Also the with inflation and with the additional higher costs involved in building those costs are being passed down to the consumer.
So let’s dive into how the rising costs of building materials and inflation are effecting replacement cost and being properly insured to value.
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