While I wasn’t able to get to the bottom of why it happened, clearly the unit was gutted judging by industrial-sized garbage bin after garbage bin filled with drywall and other hard-to-identify items spilling out, which were likely once the interior of the suite. What disturbed me most was the rumour, and I hope that’s all it is, a dog died and it might have been the little guy’s owner who was responsible for the blaze by leaving a stove on.

It sickens me to think what would happen if anything every happened to our resident canine, and that even if we are diligent to protect ourselves and home, living in such close quarters with so many takes our fate out of our hands in a way.

While nothing could ever replace my dog Gatsby, the incident made me curious about just how protected our home and belongings are against accidents or natural disasters.

Talking to my insurance agent made me feel both better and worse about our coverage. Even though we took our realtor’s advice and used the same company as our condo corporation for our home insurance, it seems the topic of condo insurance is always, at best, complicated when it comes to settling a claim. The basics are this, though: the corporation’s insurance policy which part of our monthly fees go to covers any damage to the structure such as the roof, exterior and interior walls, floors, doorways and the like as well as common property, while we are responsible for insuring our personal property or contents within our unit. But there can be gaps, so, like anything in a condo corporation, it’s best to consult the condo bylaws and the Condominium Act to see who is liable for what.

I worried that perhaps the recent fire would mean (another) increase in our condo fees from having to tap into it, but that’s generally only the case if the reserve fund was non-existent, as most damage to common areas and structure should be covered by the considerable insurance taken out on the building’s behalf.

Anyone considering not getting insurance because they think the corporation’s insurance covers them, though, really should think twice, since not only are your belongings not going to be replaced in the event of damage, but you may also be on the hook if the fire was your fault. The biggest dollar value on my insurance policy, for example, is $2 million for bodily damage or property damage should a fire or other disaster be the fault of me, my husband or any guest of ours. (I believe it also covers defense costs in case we’re involved in a dispute over who is at fault). For the $200 we shell out, I’d say it’s worth it.

And if planning renovations, especially major ones, you’d be remiss not to let your insurance company know in advance to protect yourself. Say you get a plumber who’s not licensed to come in and do work and he causes problems, it might be, er—like flushing money down the toilet, because shoddy workmanship is not covered by insurance. Speaking of plumb­ing, a leaky water pipe that causes more extensive damage over time may also not be considered an “insurable loss” so it’s always best to read over your insurance policy in detail. Turns out mice or other pests gnawing away at my walls are also not covered, nor is any harm caused by a missile blowing up our place if our country is at war. Meanwhile, if someone managed to fraudulently take out a mortgage on our unit, if we didn’t have a mortgage (I wish), that also may not be considered insurable under our personal policy, and we would literally be out on the street.

Other areas worth closer examination are windows and doors, as they are increasingly considered the onus of the condo owner and not the corporation, so any damage or replacement costs will be coming out of owners’ insurance and not the building’s.

And while my neighbours likely have insurance that covers putting them up some-where while their unit is repaired (which could take years, depending on damage and labour availability), it’s a good idea to spend this money wisely. Ours, for example, adds up to $26,000, which may not last long if your preferred accommodations are a hotel, or you have pets who need to be boarded at a kennel. Once that money is gone, it’s gone, so it’s not a bad move to have at least one friend who really likes you who’d be willing to put you up, if need be.

One thing condo owners should pay close attention to is the price allocated to replacing personal property, and most insurance advisors will tell you to go over contents of your home with a fine tooth comb; if you’ve underestimated how much you’ve got, it’s your loss, basically. When you add up all of your clothing, furniture, and electronics, most people have more than they initially estimate.

Seems I’ve got my work cut out for me this weekend tallying what our worldly possessions are worth.

If anyone needs me, I will be counting my shoes.  CL