Alberta home insurance up 391% — is yours next? 1. Before you make any offer, get insurance quotes first — the Insurance Bureau of Canada estimates about 10% of Canadian households cannot get flood insurance at any price, meaning some homes are effectively uninsurable before you even move in. → 10% 2. Climate change alone drove 54.5% of Canadian home insurance premium increases between 2008 and 2024, adding roughly $533 per year to the average policy — that’s over $3,000 in extra climate-driven costs since 2020 alone. → $533/year 3. Canadian insured losses hit a record $9.4 billion in 2024 — roughly 12 times the annual average of the previous decade — which is exactly why insurers are either hiking rates dramatically or pulling out of high-risk areas entirely. → $9.4 billion 4. Retrofitting your home with flood-proofing, fire-resistant materials, or backup systems can reduce your premiums and improve your insurability — a smart move whether you’re buying or already own in a higher-risk area. Full buyer checklist 🌐 getwealthy.blog #canadafinance #personalfinance #canadianmoneytalk #moneytips #canada
Certified Financial Planner (CFP) and Chartered Investment Manager (CIM) with over 17 years of experience in Canadian personal finance. Spent 10+ years at one of Canada's Big Five banks, the last 7 focused exclusively on high-net-worth clients. Every guide is written with the same depth I bring to real client work — Canada-specific, CRA-verified, and always free.