Canadians optimistic about their ability to deal with extreme weather events: RBC study

Although extreme weather events are on the rise, Canadians are still optimistic about their ability to deal with the impacts of these events, according to the 2015 RBC Canadian Water Attitudes Study released on Tuesday.

RBC Insurance said in a statement that extreme weather events are on the rise, with heavy rainfalls, severe snowstorms, ice storms and floods increasing in prevalence and intensity across the country. In some regions of Canada, weather events that used to occur every 40 years are now happening every six years, the statement said. Yet, despite this rise, Canadians are still optimistic about their ability to deal with some of the impacts of these events.

According to the eighth annual RBC Canadian Water Attitudes Study, the majority of Canadians feel prepared to deal with extreme weather events such as severe snowstorms (70 per cent), severe thunderstorms (56%) and ice/hail storms (55%). While only 36% of Canadians feel prepared for flooding, the majority are confident in their ability to cope with personal stress and the safety and security of their family.

Interestingly, seven in ten Canadians said that the emotional impact of a home robbery would be more negative than having their home damaged by flooding, but more Canadians made efforts to protect their home against flooding (37%) than burglary (28%). When asked “do you currently live in an area that you think is vulnerable to flooding?” 72% of respondents said no, 21% said yes and 7% were recorded as “didn’t know/not applicable,” with residents of Alberta and the Prairies feeling significantly more vulnerable to both flooding and drought than in other parts of Canada. [click image below to enlarge]

“Although Canadians feel prepared to deal with the adverse effects of extreme weather, the amount of damage caused by weather incidents increased 650% in Canada between 2009 and 2012,” said Paula Bandi, senior product manager, home, RBC Insurance. “Based on these findings, it appears Canadians may have a relatively high level of optimism when rating their level of preparedness.”

Over the past five years, water has replaced fire as the main cause of damage to Canadian homes, RBC Insurance reported. Despite this risk, the survey found that many Canadians do not have plans to take precautionary measures to prevent water damage to their home this year. In addition, the number of Canadians taking preventative measures against water damage has decreased significantly from previous years.

“It’s alarming to see such a steep decline in Canadians willingness to take precautionary measures to protect their homes,” added Bandi. “Extreme weather events are inevitable and Canadians need to take proactive steps to protect their home from extensive property damages.”

The 2015 RBC Canadian Water Attitudes Study included an online survey administered by GlobeScan between Jan. 5 and Jan. 25. It included a sample of 2,242 Canadian adults; weighting was employed to balance demographics, to ensure the sample’s composition reflects the adult population according to Canadian Census data, and to provide results intended to approximate the sample universe. The margin of error for a strict probability sample for a sample of this size (n=2,242) would be ±2.2 per cent 19 times out of 20.

RBC Insurance, through its operating entities, provides a wide range of travel, life, health, home, auto, wealth and reinsurance products and solutions, as well as creditor and business insurance services to individual, business and group clients. RBC Insurance has more than four million clients globally.