Why Your Insurance Premiums Are Rising—and What You Can Do

You may have noticed your insurance premiums going up, and we want to explain why—and how we can help. At McDonalds Insurance, we’re committed to transparency, so let’s break it down.

Why Are Premiums Rising?

• Severe Weather: Alberta faced $8.5 billion in weather-related losses in 2024, including wildfires and hailstorms. These events drive up claims costs, which impact premiums.

• Construction Costs: Building costs have surged 67% in the last five years, far outpacing general inflation at 18%. Rebuilding or repairing homes is more expensive than ever.

• Industry Strain: Insurers paid out $1.17 in claims for every dollar of premium collected in 2024—an unsustainable trend that pushes rates higher.

What You Can Do:

• Reduce Risk: Use FireSmart practices to protect against wildfires, like clearing debris and using fire-resistant materials.

• Review Coverage: Let’s ensure your policy fits your needs without overpaying. Call us at 403-335-3442 or email office@mcins.ca to discuss options.

• Bundle Policies: Combining home and auto with us can often save you money.

We’ve been serving Didsbury since 1941, and we’re here to help you manage these rising costs. Let’s find the best solution for you!