If house prices go up then insurance prices will go up. As the Japanese say "Shoganai" which translates to "It can't be helped" or "There is no ginger" ( I am referring to the former not the latter)
I guarantee you that you would be much more upset if something happened to your home and your insurance company only covered to last year's values.
Taxes and insurance costs increase when your property value does. Think about the $82,500 you made last year and weigh it out.
A helpful tip:
"Karen Hopkins-Lee, chief underwriter at Canadian Direct Insurance, said homeowners can reduce their premiums by raising their deductibles -- from $200 to $500, for example -- and by updating roofs, plumbing and hot-water tanks." Full Article
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