Home insurers raise prices, rein in coverage as weather events worsen

Residents survey the damage before beginning cleanup in Calgary, Alta., Sunday, June 14, 2020, after a major hailstorm damaged homes and flooded streets on Saturday.THE CANADIAN PRESS/Jeff McIntosh

Canada’s home insurance safety net is starting to fray at the edges as the costs of extreme weather continue to rise.

While competition is still healthy, and the country has so far avoided the coverage deserts growing in the United States, insurers are paring back policies in a variety of ways to adapt.