Verisk's 360Value Quarterly Reconstruction Cost Analysis shows materials and labor prices rose 3 percent from July 2021 to July 2022.
Knowing when a property has been updated is critical, as these changes can add new liability risks and insurance-to-value considerations.
Property insurers can move to simplify quoting workflows in a digital-first strategy with fast, reliable reconstruction cost estimates.
With renovations increasing rapidly, the pressure to monitor property changes has increased to promote premium and ITV alignment.
Verisk's 360Value® Quarterly Reconstruction Cost Analysis shows materials and labor prices rose 13.5 percent from April 2021 to April 2022
SmartSource in 360Value gives personal property insurers the current and comprehensive data they need to underwrite with confidence.
A new Verisk wildfire case study breaks down the data suite used to evaluate the aftermath of the recent Marshall Fire in Colorado.
Total U.S. reconstruction costs, including materials and retail labor, rose 7.2 percent in the year-over-year period ending January 2022.
The latest 360Value® Reconstruction Cost Analysis shows that lumber price volatility is slowing the overall pace of growth.
Property insurance underwriters relying on up-to-date cost data to cope with higher reconstruction estimates amid lumber's price volatility.
The comic strip is part of our new Laugh Ratios series, highlighting Verisk’s 360Value solutions, which provide reliable replacement cost estimates.
Total reconstruction costs rose 16.7% in the second quarter of 2021, with lumber up 162.7%
Verisk is giving insurers a new way to discover if their replacement cost estimates need updating.
Total U.S. reconstruction costs continued to rise in Q2 2021, according to Verisk, with lumber costs soaring a historic 84.71%.
Verisk’s 360Value® reconstruction cost estimating tool can help insurers maintain ITV for older homes that have more varied building materials and techniques.
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