As building, lumber, and construction costs rise -- which leads to rising replacement costs to your home -- it’s important to make sure your property is fully covered.
What would it take to rebuild your home if something happened? The average inflation rate in Wisconsin this past year was about 10% and material costs were up about 14% in 2021 from early 2020, and “that’s where the rebuild costs get out of whack really fast,” said Steve Aune, an agent with American Family Insurance in Madison.
People typically review their policy and coverage every few years to make sure their income and assets are protected. This can prevent them from being underinsured. Aune said some reasons to revisit it include if you:
-
Make material changes to