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Building value update

See how far construction costs have moved since a building's value was last set.

Limit required
$24,902,681
Short by
$4,902,681

Run this through the coinsurance calculator

Trend estimate of today's value

$27,669,645

Construction costs for this type rose 38% from 2021 to September 2026, so this value trends to $27,669,645.

The limit carried is $4,902,681 below the limit required on the trended value.

No federal index covers multifamily, so this uses the overall nonresidential index as a stand-in.

Check the value on your policy

A trend is a starting point, not a valuation. Our policy review reads your limits and valuation against your buildings, and a licensed insurance broker approves every report. Policy reviews are free for any owner.

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Trend estimate from a national cost index. Not an appraisal or a replacement cost estimate. General information, not insurance, legal or financial advice.

Why values fall behind

A building's insured value is often set once and then left alone while construction costs move. This tool trends a past value to today with a federal producer price index, then compares it with the limit carried. It shows how costs moved in general, not what this building would cost to rebuild.

How the math works

  1. Index for the value's year: the average of the index across that year, so a value set in any month compares fairly.
  2. Latest index: the most recent month the Bureau of Labor Statistics has published.1
  3. Trended value: the value multiplied by the latest index and divided by the index for the value's year.
  4. Limit required: the trended value multiplied by the coinsurance percentage.

Where the numbers come from

The Bureau of Labor Statistics publishes producer price indexes for new warehouse, office, industrial, school and health care buildings, built from model buildings priced each month.1

It publishes none for apartments, retail, hotels, self storage or mixed-use buildings. For those the tool uses the overall index for new nonresidential buildings, and says so beside the result.1,2

Index used by this tool and the month it starts1,2
IndexSeriesStarts
New warehouse building constructionWPU801101December 2004
New office building constructionWPU801103June 2006
New industrial building constructionWPU801104June 2007
New nonresidential building constructionWPU801June 2009

What a cost index can't see

  • This building: an index follows model buildings across the country, not your construction, finishes or location.1
  • Site work and fees: the indexes leave out site preparation, landscaping and design fees.1
  • Changes since the value was set: additions, renovations and new code requirements are not in the trend.

Questions

Is this an appraisal or a replacement cost estimate?
No. It trends a past value with a national index. An appraisal or a replacement cost estimate looks at the building itself.
Why does a multifamily building use a stand-in?
The Bureau of Labor Statistics publishes no index for apartment buildings, so the tool uses the overall index for new nonresidential buildings and labels it as a stand-in.1
Why can't I go further back?
Each index starts on a set date, and the tool won't estimate before it. A value from before then gets no result.

Terms used here

Sources

The tool does arithmetic only and sends nothing anywhere. The index figures are from the published sources below.

  1. 1. U.S. Bureau of Labor Statistics: Producer Price Index Data for the Nonresidential Building Construction Sector, NAICS 2362
  2. 2. U.S. Bureau of Labor Statistics: PPI Commodity data for Construction (partial): New nonresidential building construction, series WPU801

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