Navigating Home Inflation: What You Need to Know

In today’s rapidly evolving market, understanding the changes in home construction and insurance costs is crucial. Here are some key points:

Skilled Labor Shortage: The building industry is currently experiencing a significant shortfall in skilled labor, impacting construction timelines and costs.

Rising Material Costs: Essential building materials have seen a sharp increase in prices, particularly since the COVID-19 pandemic. This includes items like asphalt shingles, concrete blocks, and drywall.

Home Value Surge: With a low housing inventory and high demand, the median price of homes in the U.S. has seen a dramatic increase over the past few years.

🛡️ As your trusted insurance agency, we’re here to guide you through these changes. Remember, updating your insurance policy could be crucial to ensure adequate coverage in this shifting landscape.

Tip: Ask us about potential policy discounts to help manage your premiums.