Tag Archives: condo problems

How do I know what my Condo Insurance Covers

 Are you protected?

Recently, Allstate Insurance Company of Canada and Abacus Data released some research that shows many condo owners are lacking critical knowledge about their insurance coverage, which could lead to costly mistakes.

Here are some of the major findings:

  •  61 per cent of Canadian condominium (“Condo”) owners don’t know or incorrectly assume their building’s insurance will cover damage to another unit from water or fire that originated in their unit
  • 74 per cent of Canadians looking to purchase a condo in the next few years don’t know what their personal insurance cover versus what the condo corporation’s insurance should cover.
  • Only 39 per cent of condo owners and 26 per cent of condo buyers know that the belongings of a roommate or boarder are not covered under their personal condo insurance policies.
  • 21 per cent of condo owners are not aware that the condo corporation’s insurance is responsible for incidents like falling concrete and shattering glass from condominiums.

As a condo owner, there are things you can do to make sure you are protected:

  •  Ask your condo board or management company to explain what the building’s insurance policy does or does not cover.
  • Talk to your insurance agent about your policy. Being properly covered can prevent your getting stuck with the bill if your condominium’s policy falls short.
  • Remember that damage done to your car in a garage or belongings in a storage locker are covered under your personal policy and not the building’s policy so you should ensure your coverage properly protects your car and any items you have stored in your locker.
  • Right now we (COA)  are partnering with Allstate Canada to help educate Canadians about their condo insurance.   We’re running a contest to find a GTA Condo Hero – a concierge, security guard or property manager who makes a big difference to the lives of condo owners.
 You can find out more about this contest

Meet the Judges:

Why you need Condo Insurance

 

 

CONDO BOARD CORRUPTION WITH PROXIES

PROXY CORRUPTION AT CONDO AGM?

  • Qorum was called – the meeting can start!
  • 62 Proxies and 28 Owners in Attendance records 90
  • How many were for quorom? None the proxies eliminated quorom.
  • How many included voting? All 62 because an option for substitution and other non compliance terms were included
  • Corporation Lawyer was the Chair at the AGM cost $500 per hour
  • The Board hides behind the lawyer to look legitimate!!
  • Lawyer refuses question period before the election
  • The Board holds control of the majority 62 proxies !
  • The proxy form is in non compliance to the Condo Act
  • Owners object but Lawyer and Board ignores objection
  • The Board appoint 2 of their friends as scruitineers
  • Ballots are casted; scrutineers count proxsies behind closed doors
  • The Board announces the “New Board Member/s and moves on!!
  • How many proxy and ballot votes for each candidate!! Who knows? Only the Board, Property Management and the 2 scrutineers
  • The Board forged 62 proxies before the meeting started!!
  • 28 Owners wasted their time on the (1) single vote for Director for owner-occupied position
  • The Deceitful Board of Directors has MAJORITY VOTE & control
  • The Lawyer puts forward a motion DESTROY Ballots; of course and doesn’t answer owners about ability to view the Proxies; of course!!
  • The deceitful Board now has control to ie: manouever contracts, skim monies, hold Owners hostage from receiving Condo documents, place unjustified liens on Owners units, create havoc and spread lies and deceit for their own self gain!!
  • Owners are so afraid they will remain silent!!!!
  • THE BOARD KNOWS THAT THE COAST IS CLEAR !!!