Toronto residents still dealing with flood backlash a year later
Posted Jul 8, 2014 04:31:31 AM.
This article is more than 5 years old.
Toronto residents are still dealing with the backlash of last year’s flash flood, the worst that city has ever faced.
The Toronto Star reports insurance premiums have gone up; some by 15 to 20 per cent since the flood of July 8, 2013.
Insurers paid out nearly one-billion dollars after the flood, equal to the amount they spent on weather-related damage across the entire country in 2012.
The costs have caused some insurers to boost premiums and even cut their coverage, a change some home owners didn’t discover until recent flooding damaged their property.
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