COLLINS: Rising insurance costs are another drain on your financial resources

IT IS SOMETIMES NOT PLACED as high up the priority list as it should be but skyrocketing prices for insurance of all kinds is hitting us hard, and it’s only going to escalate.

Every time there is a natural disaster, I wonder how insurance companies can cope with billions of dollars in claims. The truth is, they can’t, so they take measures to mitigate their losses.

First up is a marked increase in your general policy. Then a premium for specialized equipment that costs more and is often used in more high-risk situations where it’s more likely to be damaged or destroyed.

Loss of property, including businesses and homes. Fires like those that ravaged Jasper, Lytton and large tracts in California. Climate change will create even more problems until we come to the realization that the change is real and not some conspiracy theory.