One year later: how the wildfires are affecting...

Albertans are currently reflecting on the wildfires that plagued so many people one year ago in our province. Though some time has passed and rebuilding is happening, the fires will continue to affect the real estate industry. Home insurance was a huge factor, and continues to be. Insurers were on the hook for $3.7 billion in claims following the wildfires. To give that some comparison, the 2013 floods costed $1.9 billion in claims. What this translates to, is higher insurance premiums and increased government debt to cover those costs. On average, $2 a month to $50 a month, but that all depends on the insurer.…