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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Severe weather brought in $109 million in insurance claims

hail storm severe weather damage

The storms that struck Colorado from May 20 to 22 had left considerable damage in their wake. Homeowners, vehicle owners, and business owners in Colorado all found themselves having to deal with the aftermath of severe weather, and for many, this meant that they were making insurance claims on their policies to help to cover the cost of the damage that was left behind. While some people had to contend with very heavy rain, others were battered with hail. Those who were the most unfortunate found themselves having to manage…

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Climate change threatens insurance industry

Natural Disaster damage insurance trends

Climate change may be a significant problem that cannot be ignored Natural disasters are nothing new to the world. Countries have been battered by floods, hurricanes, earthquakes, volcanic eruptions, and other catastrophes since before they were officially countries. In the world of business, few industries are so well acquainted with natural disasters as the insurance industry. The industry, as a whole, is well versed in the monitoring of weather patterns and has been able to accurately predict the impact an effects of several natural disasters around the world. According to…

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