Our home insurance renewal just arrived. It is 14% higher than last year, and a whopping 56% higher than we paid in 2020, despite not having had any claims. After calling the broker I heard the predictable story about “costs of materials, labour, rate of inflation, etc.” I am not an economist but am fairly confident that inflation has not increased by 56% over the past 3 years. Also, although the cost of building materials skyrocketed during the first year of Covid, they did recede somewhat since then. I just cannot see the justification for this amount of increase. We asked about other ways to reduce the premium with this company such as raising the deductible, but were told that it would not have a significant impact. My location is eastern Ontario. Is everyone else experiencing this and did you find any better deals by shopping around?