Alberta home insurance costs up nearly 400% in 20 years
Extreme weather has battered Alberta more than any other province. The 2024 Calgary hailstorm alone caused $3 billion in insured damage.
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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.
Home insurance premiums in Alberta rose 391.6 per cent over the 20-year period — the largest increase in Canada, way over the national average of 174.4 per cent. Over the past five years alone, Alberta has seen premiums climb 55.8 per cent between December 2020 and December 2025, also the highest among all provinces and above the national average of 38.6 per cent.
Extreme weather has become a dominant driver of insurance losses across Canada, with Alberta among the most affected regions. In 2024, a hailstorm that slammed Calgary caused an estimated $3 billion in insured damages, and the Jasper wildfire the same year added another $1.1 billion in losses.
A single homeowner told the story. After filing a $42,000 claim for hail damage to his Strathmore home following the catastrophic 2024 hailstorm, John Winkler's 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."
The Prairies, particularly around Calgary and north toward Edmonton, are highly prone to hail and tornado activity. Calgary's larger population and higher housing density make it more vulnerable to significant damage and claims. Each year from 2020 to 2025 ranked among the top 10 costliest years for extreme weather. Despite 2024 being a more severe year, insurance costs stayed high in 2025 as insurers continued to raise premiums to meet rising cost pressure.