These are the factors that can affect your Home Insurance Rates. Check this out!
- Labor shortages: Labor market pressures have driven repair costs up even more with fewer available workers, extending timeframes for getting work done.
- Extreme weather: Major destructive weather events such as hurricanes and wildfires are on the rise. This leads to trends where claims are both more frequent and more expensive.
- Inflation: The Consumer Price Index (CPI) has risen more than 9 percent since July.1 That means we’re all spending more for the same goods and services
- Building materials: Inflation is even higher when it comes to many of the materials commonly required for home construction and repair
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