Sentences with phrase «labor costs of rebuilding»
Replacement value insures your home with enough coverage to handle market inflation and labor costs of rebuilding if your home is leveled.
https://www.trustedchoice.com/ Not exact matches
Some insurance companies have refused to pay policyholders for a general contractor's overhead and profit (O&P), which is typically 21 percent of the estimated material and labor costs, when policyholders decide not to rebuild or repair their homes.
It's important to include the value of those updates and materials in your coverage estimation, since it may cost more to replace or rebuild those features made with new materials or specialized labor.
He also expects labor rates and the cost of supplies like drywall and flooring to rise, given the increased demand for remodeling and rebuilding.
«Construction labor costs are astronomical, and that's purely a function of supply and demand for that skilled portion of labor — a demand driven by hurricane rebuilds and not new housing starts necessarily,» Roschelle says, referring to the reconstruction efforts following hurricanes Harvey and Irma.