Home insurance: Are you covered for wildfires, floods and other climate-related disasters? Sep 5th

How to go about securing the best policy for your insurance in Canada.
Latest News
 insurance agents

The best travel insurance credit cards in Canada for 2025 Jan 11th

Many Canadian credit cards come with built-in travel insurance benefits, such as emergency medical coverage, trip cancellation protection and flight delay compensation, which can save travellers from unexpected out-of-pocket expenses. Our list of the best travel insurance credit cards come with thes.... More »
 home insurance

Making sense of the markets this week: November 3, 2024 Nov 4th

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors. Apple, Nvidia growth—no cap Depending on the day you ask, it’s either Apple or Nvidia as the answer to the classic q.... More »
 life insurance

Auto loans for newcomers—questions to ask when buying your first car in Canada​ Dec 22nd

Buying a car in Canada can be a daunting task for newcomers to the country, facing unique challenges like a lack of credit history, an unfamiliar selection of vehicles, new regulations, and new financing and insurance options. Below, we’ll dive into the important steps, tips and pitfalls to help n.... More »
 term insurance

The best travel insurance credit cards in Canada for 2024 Nov 16th

If you’re one of the nearly 80% of Canadians planning a trip outside your province or territory this year, you’re going to want to use a travel credit card with solid insurance. Top 3 cards for travel insurance featured .... More »
As wildfires continue to burn in parts of Canada, we’re increasingly feeling the impacts of the climate emergency.

Canada is warming twice as fast as the rest of the world, according to a report by the federal government in 2019. The highest temperature increases are in the North, the Prairies and northern B.C. Over time, we’ll see more precipitation, snowstorms, wind, hail, floods, droughts, smog, wildfires and “extreme heat events,” like the heat dome that scorched Lytton B.C., in 2021. That means more weather damage to infrastructure, businesses and homes—and a corresponding rise in insurance claims.

Between 2009 and 2020, Canadian insurers spent an average of $2 billion annually on losses related to natural catastrophic events (those resulting in insured losses of $25 million or more)—more than four times the average of $422 million paid out annually from 1983 to 2008, according to the Insurance Bureau of Canada (IBC). Claims have continued to rise. In 2022, insured damage for severe weather events reached $3…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!