Dwelling Limits for Home and Business Properties

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Rising costs in construction materials are having an affect on how we determine dwelling limits recently. Many clients ask me what exactly goes into the dwelling limits for home and business properties?

The simple answer is that dwelling limits only apply to how much it would take for a contractor today with today’s material cost and today’s labor cost to rebuild your home or business.

What Is Not Included In Dwelling Limits for Home and Business Properties

What does not go into dwelling limits is how much you can sell your house for or what the property value is in your neighborhood.

Here in Texas, most houses are worth more than the cost to rebuild a home in a total loss situation. However, recent rise in materials cost has reversed that a bit.

Jesse Gay, owner of Jackson and Taylor Homes, is noticing a 30-40% increase in materials causing him to have to bill this into each bid.

Ask Your Agent for Help Calculating Your Dwelling Limits for Your Home and Commercial Properties

When renewing your insurance in today’s climate, sit down with your agent, whether it be for your home or business, and calculate today’s rates both from a materials and wages standpoint.

Wages and cost of labor has increased due to the labor crisis we are under as well.

Contact Arredondo Risk Advisors Today for Dwelling Limits

The good thing about insurance carriers is that they will almost always be happy to raise your dwelling limits to your preference should you wish to.

As always, if you have any questions, feel free to contact me at 281-566-2583 or simply click here and we will be in touch very soon.

☀Have a great Summer!☀


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