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.
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 surged at historic rates in the United States and Canada from October 2019 to October 2020 as lumber prices spiked.
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.
Property insurance prefill gets easier with 19 million more addresses added to SmartSource® in 360Value®, Verisk’s replacement cost estimate tool.
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.
Total reconstruction costs, including materials and retail labor, accelerated to 5.0% growth in the United States from April 2019 to April 2020.