Ontario home insurance rates ‘snowballing,’ and flood claims partly to blame: group
NegativeWorld Affairs

A recent report from Rates.ca highlights a troubling trend in Ontario, where home insurance rates are skyrocketing, largely due to flood claims. Just one claim for flood damage can lead to a staggering 19 percent increase in premiums. This is concerning for homeowners, as it suggests that even those without flood coverage may face rising costs. Understanding these dynamics is crucial for residents as they navigate their insurance options and budget for potential increases.
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