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Homeowners insurance rates likely to spike in Alberta

Homeowners insurance rates likely to spike in Alberta

Homeowners insurance rates likely to spike in Alberta
News from Live Insurance News:

Homeowners in Alberta, Canada, are preparing to see higher insurance rates as insurers begin to feel the financial impact caused by recent floods. The Insurance Bureau of Canada notes that insurers have been weighing the impact of floods that struck Alberta in June of this year and many have found the need to raise rates in order to mitigate the financial blow of the disaster. Those that had fallen victim to flooding will likely see their homeowners insurance rates spike in the coming months.

Flood damage breaks records

Early summer floods sparked record breaking insured losses in Alberta, according to the Insurance Bureau of Canada. In the months following the floods, homeowners had been seeing their

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