Tariffs Will Affect Your Insurance Rates

After hurricane Florence floods recede, the journey to restoration begins. Typically the cost of building materials are slightly higher after a storm but “home builders and contractors say this administration’s trade policy will add to the price increases that usually follow natural disasters” writes Nelson D. Schwartz in the New York Times.

Wood prices are already up 40% from a year ago and there is a 25% tariff on imported steel. The more the raw materials cost to rebuild the more you and I will pay for insurance in time because the homeowners and property rates and driven by the reconstruction costs.

​Read more in the September 22nd Issue of the New York Times.