Home insurance costs soared 45% in 6 years due to extreme weather: StatCan (opens original article in a new tab)

Canadian home insurance premiums rose 45% from 2019 to 2025 due to extreme weather claims, with catastrophic costs reaching $8.6 billion in 2024 and 96 active wildfires in 2026.

• Home insurance premiums in Canada increased by 45% between 2019 and 2025 due to extreme weather claims
• Catastrophic claims reached $8.6 billion in 2024, with major weather events in Q3 2024 costing over $23 billion
• Alberta saw the highest increase in home insurance premiums at 391.6% from 2005 to 2025
• Wildfire seasons in Canada are expected to remain above average with 96 active wildfires as of 2026