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What is inflation protection in home insurance?

I’ve recently been contemplating purchasing inflation protection with my home insurance due to the increased inflation rate, but I’m not sure if it's necessary. What actually is inflation protection in a home insurance policy?

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Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
With inflation being a common current event topic, it’s something to think about! Inflation protection in
home insurance
is a way to ensure your benefits do not lose value and the buying power of your dollar remains the same. The protection is an additional feature and will typically increase your benefits and premium over time.
Since the cost of materials, like lumber and building supplies, varies, inflation protection ensures your home is rebuilt at the same value, regardless of how much something costs. Without inflation protection, your home could be destroyed, but you’d be unable to rebuild it due to inflation and the cost of materials. Essentially, your dollar won’t go as far as time goes on unless you periodically rate your coverage for these increases.
If you’ve done a lot of renovations on your home or inflation is a concern for you, check with your home insurance company. An agent can explain exactly what their protection covers and how it will benefit you.
That said, every insurance company is different. You can also shop around with multiple providers to ensure you’re happy with the coverage they offer.
If you want an easy way to find a home insurance policy with all the coverages you need at the best rate, you should use
Jerry
. A licensed broker that offers end-to-end support, the Jerry app gathers affordable quotes, helps you switch plans, and will even help you cancel your old policy.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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