Verisk Report (2Q 2022) Reconstruction costs continue to be on the increase
Total reconstruction costs, including materials and retail labor, rose 13.5% from April 2021 to April 2022, nearly doubling the pace of increase from January 2021 to January 2022. Overall inflation and rising fuel prices are driving the price swings as the cost of producing and transporting goods rises.
Verisk is a global data analytics and risk assessment company that serves the P&C industry. Verisk helps carriers estimate and manage the risks associated with natural and man-made catastrophes, weather, and climate. This quarterly report on reconstruction cost trends at the national and state levels.