Insurance Versus Inflation
Even during low inflationary times, it is wise to evaluate your property insurance needs periodically. Replacement costs keep rising, and even if that is only 2% per year, over 5 years that makes a $100,000 replacement cost $110,400 five years later…..that’s up 10.04% when you compound 2% over 5 years. If inflation is at 4%, that can escalate this number by more than 21% in 5 years! You need to, therefore, constantly re-evaluate your insurance needs.
With 36 years of experience in real estate, we are here to provide you non-Google-able insights and valuable guidance. We are available 24/7, and would love to hear from you!
Best, Joujou