July Prairie storms add $40 million to total insurance cost

Summer storms across the Prairies continue to demonstrate the financial costs to consumers and tax payers.

The July and August storms in Alberta and Saskatchewan caused more than $240 million in insured damage to homes, businesses, and vehicles.

This brings the total of insured damage across Canada to $1.4 billion, thus far in 2018.

Severe storms brought damaging wind gusts and large hail to central Alberta and central Saskatchewan on July 6-7.

The storm downed large trees onto recreational vehicles and cabins in the Saskatchewan Lakeland region causing $40 million of insured damage.

Insurance Bureau of Canada (IBC) reminds consumers to be insurance aware and to check what your policy covers before severe weather hits.

Ask your insurance representative about what coverage is included or what you need to add on, like overland flood coverage, for example.

Consumers can also call IBC's Consumer Information Centre with their questions, at 1-844-2ask-IBC.

"Costs from severe weather events in the Prairies and across the country have been increasing. Insured losses is only part of the picture, taxpayers also foot the bill. We all have a role to play in adapting to the changing climate. We need to look at increased access to flood maps so that consumers understand their risk, better land use planning and updated building codes," explained Celyeste Power, VicePresident, Western, IBC (Acting).

To learn how to protect your property against floods and other disasters, visit IBC's website.

Key Facts

• Severe weather events have hit the Prairies, resulting in over $500 million in insured damage.

• May 2017: Wind, water and flood damage near Lacombe, Alberta, resulted in $68 million in insured damage.

• June 2017: A hail storm in Saskatchewan caused more than $46 million in insured damage.

• July 2017: Wind and water damage in in Yorkton and Melville, Saskatchewan, and in parts of Alberta resulted in over $50 million in insured damage.

• October 2017: A windstorm in Dauphin and Winnipeg, Manitoba, and parts of Alberta caused over $100 million in insured damage.

• June 2018: Wind, rain and hail in Saskatchewan and Manitoba resulted in $90 million in insured damage.

• July 2018: Severe thunderstorms in central Alberta caused $120 million in insured damage.

• August 2018: Hail, strong winds and heavy rain in Alberta and Saskatchewan resulted in $30 million in insured damage.