Unusual weather cost $57 million in insured damage

U.S. President Donald Trump may not believe human activity is causing climate change but Canada’s insurance industry certainly does.

Unusual weather caused ice jams and flooding in the Ontario town of Brantford. (Jared Houliston/CBC)

‘Climate change is causing severe weather’

“Climate change is causing severe weather events more frequently throughout the year, especially storms involving floods,” said Kim Donaldson, Vice-President, Ontario, Insurance Bureau of Canada in a news release.

In particular, the bureau flags a slow-moving high pressure system that brought unusually high temperatures and heavy rains to southern parts of the provinces Ontario and Quebec between February 19 and 22, 2018. It caused over $43 million in insured damage in Ontario and over $14 million in Quebec for a total of $57 million.

Plan for floods, other disasters, urge insurers

Donaldson warns consumers to know what is covered in their insurance policies and whether they are protected for overland flooding. The news release also directs consumers to a bureau website which provides information on how to protect property against floods and other disasters.

It is obligatory for Canadians to have insurance on their cars. Canadians must insure their homes in order to get a mortgage when buying. Some homeowners drop the insurance after their mortgage is paid off, however almost 97 per cent bought home insurance in 2015. The vast majority renew their policies every year but may choose policies that offer more or less coverage depending on the price and their particular needs.