In 2020, severe weather events caused $2.4 billion in insured damage within Canada. You can read the full article from Insurance Bureau of Canada, here.

Taxpayers and insurance premiums share the cost for severe damage due to weather. Severe weather events that occur in Toronto, for example, will affect premiums in other parts of the province and country. These weather-related claims impact everyone.

Our climate has already shifted, and experts predict significant further changes. Our future will be warmer, with more extreme weather events. The damage to buildings and infrastructure is expected to increase because of the growing number of people and assets located in areas of risk. According to the Insurance Institute, the average annual severe weather claims paid by insurers is expected to double over the next 10 years.

Insurance is in the business of managing risk. Greater risk = more claims = higher premiums.

Climate change is already having a direct financial impact on Canadian homeowners through their home insurance premiums. According to newswire.ca, in Ontario, premiums have grown by 64 per cent since 2011.

Homeowners can better protect themselves from the rising costs of climate change by checking their policy to ensure they are covered for any associated event that might occur. Homeowners can also reduce their risk of weather-related damage by ensuring proper irrigation to direct water away from their home and ensure downspouts are properly positioned.

We are expected to see:

  • More rainfall events
  • Wildfire ignitions and a longer fire season
  • Coastal flood risk is projected to increase because of rising sea levels
  • Ice-free conditions are projected for Canada’s Arctic Ocean

When your home insurance premium is calculated, the odds of your property sustaining damage is taken into account when your insurance premium is calculated. Climate change means those odds are getting worse.


As your Insurance Broker, we are always happy to discuss your home insurance policy with you. Roughley’s team of insurance professionals is standing by to answer your call. If you have questions about your insurance, we invite you to call us and speak to one of our team members.

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We are available Monday to Friday, 9am until 4:30pm.
Oshawa Location
Phone: 905.576.7770 • Toll Free: 1.888.558.0883
Fax: 905.576.3610
insure@roughleyinsurance.com

Bowmanville Location
Phone: 905.697.4257 • Toll Free: 1.888.558.0883
Fax: 289.316.3662
insurebowmanville@roughleyinsurance.com