Study: Extreme weather impacts on consumers and insurers in Canada: An updated analysis, December 2019 to December 2025

Canada's property and casualty (P&C) insurers have faced growing financial pressure, driven by an increase in extreme weather events, higher building and replacement costs, higher repair costs and a rise in vehicle prices and thefts. These factors have contributed to higher insurance expenses, and insurers have raised premiums to compensate. From December 2019 to December 2025, homeowners' home and mortgage insurance premiums increased 45.0%, more than double the increase in the all-item Consumer Price Index over this period (+21.0%). Passenger vehicle insurance premiums rose 23.9%, also outpacing overall inflation, albeit to a lesser degree.

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