Failure to Insure

April 2018

Insurance is financial protection when unexpected emergencies arise.  Lack of insurance may mean there is nowhere to turn for assistance when these events occur.

One such event arose in the Yonge. St. and Eglinton Ave. area on January 7, 2018.  In the midst of a deep freeze a radiator pipe burst in the early morning hours and flooded a unit at 60 Holly St.  Electronics and other personal possessions were floating in inches of water soon after.  Within days mould began to appear.  Restoration services were necessary followed by a check of electrical wiring and outlets during a three week period before the unit was once again habitable.  During this time the tenant was required to seek alternate accommodation.

There was no insurance to cover personal possessions or the cost of alternate accommodation.

Individuals are always responsible for their own costs when emergencies such as this arise.  Having tenant’s insurance or owner’s insurance, and remaining current in payments, provides a level of financial protection.  In the absence of tenant’s or owner’s insurance a landlord or condo corporation will not fund accommodations or replacement of damaged contents.


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