Alberta saw nearly 400% spike in home insurance costs over 20 years: StatCan
Posted Jun 17, 2026 12:57 pm.
Last Updated Jun 17, 2026 1:05 pm.
Albertans have faced the steepest rise in home insurance premiums in the country, with costs climbing nearly 400 per cent between 2005 and 2025, according to new data from Statistics Canada.
The surge comes as extreme weather batters communities more frequently and drives up claims, straining both homeowners and insurers.
The latest example played out this week in southeast Calgary when a fast‑moving storm tore through the community of Lake Bonavista and left residents cleaning up toppled trees and damaged property.
Alan Campbell stepped outside to find a massive fir tree downed on his lawn.
“We came outside and to see this 50‑foot fir tree laying on the ground and then plus the destruction up in the park here, it was shocking,” he said.
StatCan’s report shows home insurance premiums in Alberta rose 391.6 per cent over the 20‑year period.
It’s a trend homeowners like John Winkler know firsthand. After filing a $42,000 claim for hail damage to his Strathmore home following the catastrophic 2024 hailstorm, his premium jumped by $1,000 the next year.
“It may not seem like a lot month‑to‑month, but for a yearly budget it’s quite a bit,” Winkler said. “With the cost of owning a home in Strathmore right now, our property taxes are also up.”
Insurers are feeling the pressure too. Liam McGuinty of the Insurance Bureau of Canada says the industry posted underwriting losses in both 2023 and 2024, driven in part by severe weather.
“Home insurance in 2023 and 2024, it was a net loss in terms of the underwriting returns that insurers generated,” he said. “That was in part due to really severe weather events in those years.”
Experts say the financial strain on both sides underscores the need for stronger climate‑adaptation measures.
Ryan Ness of the Canadian Climate Institute argues governments must do more to prevent development in high‑risk areas and update building codes to reflect changing conditions.
“All provincial and territorial governments in the country have the authority to limit development in high‑risk zones, but not all of them are using that authority,” Ness said. “And of course, making sure that building codes are updated to reflect new changes in climate.”
