The OP should call their insurer as there's a slim chance - but I'm afraid the news may not be good. To use CubicleGeek's post:
Quote:
Loss assessment
An important feature of a condominium insurance policy is loss assessment. This is when you share responsibility with others for common property. The insurer will pay, up to a stipulated limit, your portion of any special assessment that's valid under your condominium corporation's governing rules:- If it's due to a direct loss that affects a shared part of the premises and if it has been caused by an insured peril
- If it's due to legal liability arising out of shared ownership of common areas of the condominium premises (for example - to compensate a visitor for injuries incurred by tripping over a frayed carpet in a corridor)
- Providing that the assessment has not been made necessary because of a deductible in the corporation's own insurance policy.
In most cases, the condominium corporations own insurance coverage will be adequate.
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The key word is insured peril. In general your insured peril is for things like fire, vandalism or theft. If the building's insurance is unable to cover thse insured perils (ie fire causes $2M damage but coverage is only $1M, your personal insurance on the unit kicks in and covers any amounts the Board has to special assess for.
Unfortuantely here, water related exclusions seem to be previlant right now. A few years back, one water related claim would void the building's ability to make further water related claims. As such, from the OP's description, it sounds like the building doesn't have coverage in this situation, therefore he doesnt under his own policy.
Bella Vista went through this a couple years back - how's a $110K assessment?
http://www.cbc.ca/news/canada/calgar...ills-1.1264358
A Beyond member tried to run it through insurance and ran into the above wall unfortuantely.
http://forums.beyond.ca/showthread.php?threadid=336045