We recommend that all boards include the following in their status certificates and/or in a newsletter to owners:

Every owner should carry insurance to provide coverage for the following:

  1. Damage to personal property and/or parts of the unit, which are not included in the standard unit by-law.
  2. Liability for injuries which might occur to someone in the unit.
  3. The cost of living out of the unit if uninhabitable by reason of an insured loss.
  4. The recovery of insurance deductibles for which the owner is responsible.

If the unit is tenanted, loss of rental income coverage should also be secured to protect the owner's loss of rental income if the unit is damaged and the tenant does not pay rent.