Port Coquitlam Homeowners: Why Updating Your Replacement Cost Matters

Recent industry data shows that residential rebuild costs have increased by nearly 25% over the past five years. Across the Tri-Cities—Port Coquitlam, Coquitlam, and Port Moody—this trend is being felt through higher construction costs, supply chain pressures, and increased demand for skilled labour.

For homeowners, this creates a growing gap between insured values and actual rebuild costs.

If your policy hasn’t been updated recently, there’s a chance your home could be underinsured. In the event of a total loss, outdated replacement values may not fully cover the cost to rebuild your home to its original standard.

Regular replacement cost evaluations are one of the most important best practices in home insurance today. They help ensure your policy reflects current building costs—not past estimates.

At Tri-City Insurance, we’re here to help you stay ahead of these changes and make sure your coverage is accurate, up to date, and aligned with today’s reality.