Inflationary pressures are contributing to the rising costs to repair and rebuild homes.
Here are some of the factors that may influence premiums going forward.
Material goods for new residential construction prices up 14.3% Oct ‘21–Oct ‘221
Asphalt roofing materials prices up 14.5% Oct ‘21–Oct ‘222
Prices for lumber and wood products up 6.2% Oct ‘21–Oct ‘223
15 separate $1B+ loss events from weather as of Oct 11, 20224
423,000 job openings in the construction industry as of Sept ‘225
Have additional questions?
We're here for you. Please contact a Travelers representative or your independent agent who can help answer questions you may have about the insurance market trends, assess your current coverages and discounts for which you may be eligible.
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