Verisk’s 360Value® reconstruction cost estimating tool can help insurers maintain ITV for older homes that have more varied building materials and techniques.
Total reconstruction costs increased sharply again at the national level in the United States and Canada, according to the latest data from Verisk’s 360Value.
Applying an inflation-based index to reconstruction cost estimates (RCEs) can cause homeowners insurers to miss important property changes at policy renewal.
Total reconstruction costs, including materials and retail labor, increased 4.8% at the national level in the United States from July 2019 to July 2020.
Reconstruction costs continue to rise in the second quarter of 2020, based on interim data extracted to identify short-term impacts of the COVID-19 pandemic.
Verisk recently released its latest 360Value® Quarterly Cost Update, which offers an overview of current reconstruction cost trends at the national and state/provincial levels for the United States and Canada from January 2018 to January 2020.
Verisk recently released its latest 360Value® Quarterly Cost Update, which offers an overview of current reconstruction cost trends at the national and state/provincial levels for the United States and Canada from October 2018 to October 2019.
Verisk recently released its latest 360Value® Quarterly Cost Update, which offers an overview of current reconstruction cost trends at the national and state/provincial levels for the United States and Canada from April 2018 to April 2019.
Verisk recently released its latest 360Value® Quarterly Cost Update, which offers an overview of current reconstruction cost trends at the national and state/provincial levels for the United States and Canada from January 2018 to January 2019.