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Brace for more home insurance rate increases in Ontario and across Canada: report

Canadians should expect higher home insurance rates due to inflation and increased climate-related disasters. Home insurance prices have already risen by 7.66% year-over-year. The impact of climate change on natural disasters is a key factor in the rate increases. The federal government has allocated funds to combat rising insurance premiums. Financial pressures on homeowners may lead to a concerning mortgage delinquency rate.

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