10.11.2018 : Rising Construction Costs
As the United States and other parts of the world emerge from the Great Recession, construction costs escalate higher each year. Demand for construction materials and labor grows faster than supply, driving up the overall cost per square foot to construct. Because recession era insurance values are no longer sufficient to address replacement costs, many building owners, commercial tenants and home owners must respond to this dynamic economic environment by assessing their current property insurance programs.
To address this need, we have released this piece outlining how these changes can affect insurable value and some questions that can prompt conversation regarding having adequate limits in place.
Rising Construction Costs