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How the Rising Price of Lumber Could Impact Homeowners Insurance
Jordan Paszek June 30, 2021 Posted in: Blog Posts, Homeowners
The pandemic has created some extraordinary market conditions throughout the U.S. economy. As people have spent more time at home, the demand for single-family homes and the number of home renovation projects have increased. But what happens when costs of parts and labor for repair become inflated? For submitted home insurance claims, insurance costs will likely be significantly more in 2021 than a similar claim last year.
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