In a property insurance appeal, insured homeowners sought full guaranteed rebuilding costs after a total-loss flood, including legal-compliance costs imposed by conservation authority requirements.
The Court interpreted the standard form policy and guaranteed rebuilding cost endorsement together, holding the compliance-cost exclusion remained operative except for the specified additional $10,000 coverage.
The majority held the exclusion’s language was unambiguous and that applying it did not nullify the endorsement’s core benefit of coverage beyond the policy limit.
Dissenting reasons would have allowed broader recovery at least for compliance costs tied to laws in force at renewal.
The appeal was dismissed with costs.
