High Construction Costs May Call for Higher Replacement Cost Coverage on Insurance Policies

If you’re a homeowner or on your way to becoming one, you’ve probably heard about the increasing construction costs.

In addition to making the purchase of a new home more difficult, skyrocketing prices for lumber and other materials are making Replacement Costs climb. Replacement Cost is the amount it would take to rebuild your house in the event of a disaster, and it's one factor we consider when evaluating your coverage.

If you’re curious how you can evaluate your own coverage in this challenging environment, here are some items to consider:

  • Last Review — When was your last insurance review? If it was a long time ago, your coverage amount could be too low.

  • Market Value — If you bought your own coverage and you used how much you paid for your home as the value, you could be WAY off.
  • Remodeling — Renovations and Additions cost more than ever. Make sure you insure your home for the extra  work.
  • Talk to Your Agent — Ask your Fortify agent if your Replacement Cost is higher than it was previously and save yourself from big risks.

Having the right value on your coverage could be the difference between insurance saving the day or you paying out of pocket. Make sure your insurance works for you!

A ring of shiny silver keys hang on a key hook on a maple board. The keys include one key in the shape of a house.
We are so thankful we had Karla as our Realtor! Thanks for holding on with us, through the roller coaster of homes and decisions, to find the right fit.
Zech and Hillary Rose
Brett Beavers, owner of Beavers Dairy, is seated in his office. A image of a Holstein cow is pictured on the cabinet behind him.
Comprehensive insurance is so important. When you do something of this scale, managing risk is key. If you are laying everything on the line you have to consider every scenario.
Brett Beavers of Beavers Dairy
Jen Griifith is pictured by the brick front pillars of the Shickley Community Center, where she works as the village clerk. She has long, dark hair and is wearing a pink blouse.
Everyone has their forte in life. Insurance is not mine. I wanted to find someone I could trust...It was easy to trust Joe and Roxie and I was comfortable asking them questions.
Jen Griffith
Tiffany W. is pictured at work with a brick stone background. She gave Fortify Group testimonial comment.
Saved me almost $75 per month!! Definitely worth a quote!
Tiffany W.
The Hejny Family
Personal service is huge to us. We like to stay connected to people. With Fortify we feel less like clients and more like extended family.
Terry & Pam Hejny
Jeff and Sally Row in their shop
It's nice to get guidance from people you know and can have a conversation with.
Jeff Row