Inflation guard - Insurance Software development

Inflation guard in HOME Insurance

Author - Webner
4:27 am
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What is the Inflation guard in HOME Insurance?

The premium amount of the HOME INSURANCE POLICY is determined by a number of factors, including property value, housing status, claims history, local climate, and crime rate in the area. But there is one more important factor to consider: inflation.

The level of construction and renovation in the area could increase year on year as it continues to improve infrastructure and decoration, or simply for economic reasons. Inflation can cause equipment to become more expensive or workers to pay higher wages.

Keeping this in mind, insurance companies (subject to a […]

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