NORFOLK, Va. — As we are in the middle of hurricane season, rising costs due to tariffs are leading many homeowners to wonder how supplies will be affected.
Tariffs are currently in place for various materials, including steel and aluminum, while other reciprocal tariffs are paused until July 9.
Michael Best, the regional manager for Level Home Pros, said that if a storm causes damage, homeowners may face increased repair and renovation costs.
His company handles everything from insulation to roofing, and he noted that prices are already rising slightly.
"There has been an increase in price for raw materials — doors have gone up, windows have gone up, the price of lumber has crept up a little bit, asphalt, shingles — those things have gone up a little bit," Best said. "My insulation, that we use on a regular basis, has gone up about 12-15% year-over-year."
Best explained that these cost increases could directly impact homeowners if a significant storm strikes.
"Most things that happen in storms are the shingles blow off, the siding comes off, windows are damaged, doors are blown open. So, it's mostly exterior stuff," he said.
Smart shopping expert Trae Bodge indicated that many businesses stocked up on items when tariffs were announced.
"If you look at those stores that have inventory already, that inventory is not going to be affected by tariffs because the merchandise is already here," Bodge said.
For homeowners who need repairs, Best advised that homeowners have insurance, which can help cover rising costs.
"The fail-safe for homeowners is they have insurance, so that increase in cost is obviously going to be transferred to the insurance company," he explained.
Though filing a claim is likely to raise your premiums.
According to CBS News’ Price Tracker data, the cost of insurance has risen about 4% since last May. In the event there is damage, homeowners will need to weigh the decision between paying out of pocket for repairs or using insurance.
Best mentioned that consumers frequently ask about supply chains, prices and timelines. He said he is always happy to discuss logistics.
"You have a kid, you have family, you have responsibility, and if you have a setback in a storm and you have to shoulder some of that responsibility, you do want to do that at a low cost," he said.
Additionally, economists warn that prices may also rise for essential items like first aid kits, flashlights and batteries, as they often contain materials shipped from China.
As homeowners prepare for storm season, being informed and financially prepared is critical.
This article was researched, reported, and written by a WTKR News 3 journalist. AI was used to minimize typos and ensure style continuity.
