Download the reports for an indication of how 360Value® replacement cost estimates may change at the national and state levels for the current quarter. The report also details changes in costs of common materials and labor trades used in property reconstruction.
Total reconstruction costs, including materials and retail labor, increased 5.1% from October 2022 to October 2023. This uptick follows the 4.3% increase from July 2022 to July 2023. Quarterly reconstruction costs increased by 1.7%, a slight shift from the 1.0% increase last quarter.
As a leader in replacement cost estimation for more than 20 years, Verisk recommends five strategies to help avoid outdated valuations that could leave insurers and their customers vulnerable in the event of a total loss.
360Value Personal helps property insurers meet evolving customer expectations, while maintaining rating integrity.
We’re pleased to announce that Opta Information Intelligence is now a part of the Verisk family! Learn more about how we’re helping to reshape property risk management solutions with valuable services and business intelligence.
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