Home insurance also protects you in case you’re sued for something that happened on your property. That rebuilding, along with additional costs for demolition, replacing destroyed contents and finding a temporary place to live, can easily add up to a cool million dollars following a fire. And when they do, home insurance pays to fix the mess they cause.Īccording to Altus Group’s 2022 Canadian Cost Guide, it can cost as much as $1,050 per square foot to build a custom-built single family house in the GTA, with Ottawa not far behind at $955 per square foot. Fires, floods, storms and burglaries happen.
Home insurance covers you in case something goes very wrong with your home.
