Failure to Insure

The article highlights the importance of having insurance for tenants and owners to provide financial protection during unexpected emergencies. It shares a real-life incident where a lack of insurance caused significant financial and personal losses to a tenant whose unit was flooded. The tenant was required to seek alternate accommodation and pay for the cost of restoration services and damaged personal possessions. The article emphasizes that individuals are responsible for their own costs in such emergencies and that a landlord or condo corporation is not liable to fund accommodations or replacement of damaged contents in the absence of insurance.