Another Record Breaking Year for Insurance Claims

According to Global News, 2016 was another record-breaking year for insurance claims in Ontario. The IBC (Insurance Bureau of Canada) stated that natural disasters coast-to-coast triggered a staggering $4.9 billion in insurance claims this year. With natural disasters on the rise due to the changing global climate, homeowners and insurers alike are calling on the government for more comprehensive options when it comes to insurance coverage during these extreme weather events.

Due to the rise in claims and the rise in extreme weather events causing extensive damage, insurance carriers are consistently forced to raise home insurance premiums and reconstruct their coverage options for their customers. From flooding to fire to snow, knowing how to predict the outcomes of extreme weather events is the most difficult part for insurance companies. In fact, water damage has become one of the leading causes of insurance claims in recent years, and insurance carriers and home owners must constantly stay abreast of their policy coverage in the case of such an event.

Because natural disasters are on the rise, it is more important than ever that homeowners have the proper insurance coverage and know what is in their policy from year to year. At Noble Insurance, our team is ready to answer your questions and help you create a customized plan that gives you optimal coverage and peace of mind. Contact us today to talk with one of our insurance brokers to find out how you can guard your home financially from a disaster.