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home insurance ontario typically covers a range of risks that could affect your property and belongings. The primary components include coverage for your home structure (dwelling coverage), personal property (such as furniture, electronics, and clothing), liability protection (in case someone is injured on your property), and additional living expenses if your home becomes uninhabitable due to a covered event. Common risks covered include fire, theft, vandalism, storms, and water damage. Having home insurance is essential for protecting your financial well-being, as it can help pay for repairs or replacement of your home and belongings, and protect you from liability claims. In Ontario, it's also a requirement if you have a mortgage, as lenders typically require proof of insurance before approving a loan.