Will the average home insurance cost go up because of COVID-19? Aug 31st

How to go about securing the best policy for your insurance in Canada.
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What does home insurance have to do with the pandemic? Canadians have been spending more time at home as a result of the COVID-19 pandemic, and that’s a good thing–we’re all trying to stop the spread of the coronavirus and get back to life as we knew it. However, all of that extra time in our houses has led to an unexpected consequence for some families.
The Ontario Fire Marshal reports that between January 1 and May 4, 2020, there were 51 fire-related fatalities in Ontario—a 65% increase in comparison to the same timeframe last year. While there were a variety of factors behind these incidents, unattended cooking is a leading cause of residential fires. With restaurants feeling the negative effects of the pandemic, and more people working remotely or out of work due to the pandemic, cooking at home (while working and/or watching the kids) could be a reason for the increase.
The above is a troubling statistic for a number of reasons, most notably the tragic loss of life. From a financial perspective, this increase in residential fires may have some wondering if home insurance rates might go up in an already challenging time…

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