As announced in Personal Lines Bulletin: Inflation Factor Adjustments, inflation is higher than previous years due to increasing construction costs. Citizens’ cost estimator, Residential Component Technology (RCT) Express, makes updates based on underlying construction costs each quarter. The first quarter cost update will occur on January 1, 2022.

Any cost estimate in PolicyCenter that is created or updated after January 1 will reflect the updates.

Note: This includes cost estimates due to policy changes.

It is important to insure properties for the full replacement cost. This can prevent dwellings from being underinsured in the event of a loss.

Resources

Log in to the Agents site to access the following resources:

• Rule 208: Coverage Limits – Minimum/Maximum in the Underwriting Guidelines. Select Personal > PR-M or PR-W, and then select the policy type on the left menu.
• Coverage Reference Sheet: Select Training > Personal Job Aids, and look under Resources on the right.
• Personal Lines Bulletin: Update to Maximum Coverage Limits
• Select FAQs on the top menu and enter inflation in the Search field.