Watch: Home Insurance in Canada—what’s covered, what’s not, if premiums are rising and more + MORE Oct 11th

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“Is my claim settlement fair?” If you’ve had to make an insurance claim at any point, you’ve probably asked yourself (or your friends) this burning question.

The truth is there are a lot of questions you might have about home insurance. (“How much is home insurance?” How much does home insurance pay” and “How much does average home insurance cost? Are a few that come to mind.) Consider that insurance premiums are on the rise, and insurers and consumers are feeling the crunch. Severe weather conditions, caused by increasing temperatures in Canada, mean that we’re more likely to see snowstorms, hail, floods, droughts, wildfires, extreme heat events, which can all damage property. In fact, between 2009 and 2020 Canadian insurers spent an average of $2 billion a year on losses related to natural events. Even condo insurance has gone up as a result of extreme weather, with condo insurance increasing from 25% to 240% per year. So, insurers and consumers alike are paying more for coverage…

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Planning your home insurance policy? Wondering if you should add on coverage to your existing coverage? Managing editor Lisa Hannam interviews Morgan Roberts, director of sales at RH Insurance, about what is covered with a typical home insurance policy and what’s not covered, as well as if premiums are rising and more.

Watch:Lisa Hannam’s discussion with Morgan Roberts on home insurance
The post Watch: Home Insurance in Canada—what’s covered, what’s not, if premiums are rising and more appeared first on MoneySense.

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