Home Insurance
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Ontario home insurance rates ‘snowballing,’ and flood claims partly to blame: groupA new report by Rates.ca shows a single claim of flood damage could increase home insurance premiums by 19 per cent, but you could face more costs without any coverage at all.ConsumerOct 1, 2025
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‘It’s not right’: Flood victim deals with insurance frustration after July storm in TorontoLike hundreds of other homeowners who suffered a loss in the July flood, Rebecca Benson has been consumed with dealing with a restoration contractor and her insurance company.ConsumerAug 10, 2024
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Canada’s extreme weather events are costing billions, new data showsFrom 1983 to 2008, insurance companies in the country spent about $400 million on average annually on catastrophic claims, but since 2009 that number's risen to almost $2 billion.CanadaMay 15, 2024
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Home insurance up 7% in Canada, report says. How to cut costsHome insurance has become more expensive in Canada this year amid soaring replacement costs and extreme weather events, according to a new analysis.CanadaMar 6, 2024
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Climate change could make insurance more expensive: expertsA group representing Canada's insurance industry says the ferocity and frequency of weather events means premiums could rise by as much as 50 per cent.CanadaAug 24, 2023
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What to know about home insurance if you’ve been displaced by B.C. or N.W.T. wildfiresWhile starting a claim sooner may help you get reimbursed sooner, IBC said personal claims can usually be reported within two years of finding out about the damage or loss.FireAug 21, 2023
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Calgary community helps senior whose garage burnt downLast winter, Gaile Simpson let two unhoused people take shelter in her garage. A fire lit inside the garage got out of control and burned it down, bringing costly consequences.CanadaJun 3, 2023
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Insurance costs rising as ‘catastrophic events’ become the normAs weather events and wildfires become increasingly extreme and frequent, insurers in Canada are finding it more difficult to keep coverage affordable.ConsumerJun 2, 2023
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As wildfires ramp up, here’s what to know about filing an insurance claimMost insurance companies have "catastrophe teams" that they send to affected areas to help people file claims in person, according to the Insurance Bureau of Canada.CanadaMay 29, 2023
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Spring flood risks in Canada raise concern about insurance for homeownersFlooding is the biggest under-insured climate risk in Canada, said Victor Adesanya, vice-president of insurance at DBRS Morningstar, especially during the spring thaw.EnvironmentMay 26, 2023
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