Hi, Clinton Chronicle,
In the film “Home Alone,” Kevin McCallister’s DIY security tactics may seem eccentric. But robbers were running rampant in the early ’90s — the FBI reported about 2.8 million home burglaries in 1990, which is 229% higher than today’s numbers (about 850K home burglaries were reported in 2022).
While Kevin successfully warded off burglars, it resulted in some hefty destruction. This made my team at ConsumerAffairs wonder: How much would it cost to repair the “Home Alone” damages in 1990 vs. 2023?
We analyzed consumer price index data and found the cost to fix the McCallisters’ house would’ve been about $3,408 in 1990. That price is $7,930 in 2023 — a 133% increase over 33 years.
More findings:
The McCallisters’ neighbors endured flood damage that would’ve cost about $124,028 in 1990. A similar incident would cost $288,590 today.
The McCallisters’ house, which sits about 20 miles north of downtown Chicago, sold for $875,000 in 1989. It’s worth about $2,236,000 now — a 156% increase over 34 years.
View a full breakdown of the cost per damage in our report: https://www.consumeraffairs.com/homeowners/how-much-would-home-alone-damages-cost-now.html
Would insurance cover the “Home Alone” damages?
“If he was just playing around to amuse himself, there would be no coverage under a standard homeowner policy. But he was defending himself and the home, so it would all be covered on a replacement cost basis.” – Anthony Verreos, strategic insurance advisor
THE STUDY here.
