How Climate Impacts Your Property Insurance Costs

climate change and property insurance costs

There are plenty of factors that can impact your property insurance costs, from your location and the size of the home to the contents, but one thing that homeowners may not be prepared for is how climate is now affecting their premiums. A recent report released shows Canada is warming up at twice the rate of the rest of the world; this has left insurance providers feeling uneasy. That uneasiness is most likely going to translate to a rise in premium rates. So how exactly does climate impact your property…

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Climate change is forming a broadening insurance industry struggle

climate change insurance industry

The shift away from the traditional attitude of insurers is generating considerable controversy. While the insurance industry has traditionally been a strong supporter of the principles and behaviors of free enterprise – as it is quite the business giant – as some major carriers start to evolve their positions as a result of climate change, this has generated some disagreements to build among many of their backers in congress. Skepticism regarding the science behind the global warming claims remains among many in Congress. When it comes to the insurance industry,…

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