Canadians aren’t being proactive in protecting themselves and their properties even as climate disasters threaten more homes and vehicles.

Less than 40 per cent have taken steps to protect their home from climate-change-related weather events and just 38 per cent plan to do so in the next five years, with the majority citing the cost of such a retrofit, according to a new survey from Desjardins Group .

“There is an opportunity to raise more awareness and better support Canadians to give them greater peace of mind about protecting their homes,” Valérie Lavoie, president of Desjardins General Insurance Group, said in a release.

Awareness is the key since most Canadians are apparently unaware that there are programs in place to help bring the costs of protection down.

For example, the City of Toronto last week began offering homeowners up to $6,650 in subsidies to protect their homes against flooding, including installation of sump pumps and backwater valves and home plumbing assessments.

The Canada Greener Homes Initiative offered Canadians grants up to $5,000 and interest-free loans up to $40,000 for several weather resiliency measures, including basement wall waterproofing and roofing membranes.

Those programs may help convince the 82 per cent of respondents who said financial incentives for climate proofing would influence their decision to protect their homes and the two-thirds who said they would be willing to take action if the costs were between $1,000 and $5,000.

The risks Canadian homeowners face is also weighing on their mental health, with 40 per cent saying climate change is hurting their mental well-being.

“The rise in climate-related stress in Desjardins Insurance’s studies underscores uncertainty about the future of extreme weather events and the relationship between protecting property and maintaining financial stability and peace of mind,” the report said.

Canada has faced worsening climate disasters in recent years.

Insured losses from weather events reached $2.4 billion in 2025, the 10th-worst year on record, according to the Insurance Bureau of Canada (IBC), but insured losses over the past decade have totalled $37 billion, nearly triple the losses from the prior decade.

“As Canada embarks on a historic housing plan, investing in community and household resilience is significantly more cost-effective than paying to rebuild following every disaster,” IBC chief executive Celyeste Power said back in January .

The IBC is urging Canadians and governments to invest in flood protection, update building codes and protect those communities most at risk of wildfires.

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As jet fuel prices climb due to the war in Iran, WestJet Airlines Inc. says it will be gradually raising fares to make up the difference.

Alexis von Hoensbroech, WestJet’s chief executive, told the Financial Post that the spike in fuel prices was too quick for the airline to adjust its network, so it is instead raising prices.

“We are pretty successful in passing on an increasing share (of the costs),” he said. “I’m pretty confident that in the course of this year, at some point in time, we will be passing on the entire incremental cost.

Average airfares are already up 20 per cent, according to KAYAK.

This comes as Air Canada announced on Thursday that it would be cutting a quartet of summer routes to the U.S. due to the jet fuel costs.

Read more here.

  • Today’s Data: U.S. and Canadian employment report for April, U.S. wholesale trade for March
  • Earnings: Enbridge Inc., Brookfield Asset Management, Pembina Pipeline Corp., Telus Corp.

  • U.S. trade tensions may drag on for the foreseeable future: Canada’s former top trade negotiator
    Carney’s $25-billion sovereign wealth fund should trade as ETF, says TMX CEO
  • WestJet says it’s not finished hiking fares to recover rising jet fuel costs
  • Canadians are working harder but not getting ahead — and productivity is to blame

More Canadians will soon be eligible to claim the Disability Tax Credit thanks to changes in the Spring Economic Update that added more than applicable 40 long-lasting conditions, including Alzheimer’s disease, autism spectrum disorder, cerebral palsy (severe), and cystic fibrosis. Read more on the changes.

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McLister on mortgages

Want to learn more about mortgages? Mortgage strategist Robert McLister’s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his mortgage rate page for Canada’s lowest national mortgage rates, updated daily.

Financial Post on YouTube

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Today’s Posthaste was written by Ben Cousins with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.

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  • Young Canadians are once again leaving Atlantic Canada
  • Canadians skip vacation time as workload, burnout piles up

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