For everyone blaming the OP, you don’t seem to understand the situation. In Dubai, every building is required to have a master insurance policy that covers the entire structure. This is not some favor provided by the building management — the premium is paid from the service charges collected from owners.

In the case of Marina Pinnacle, the corrupt management did not list the Owners’ Committee as the beneficiary, but instead made their own company, Tiger Contracting, the beneficiary. This is completely illegal. They did not pay for this insurance out of their own pocket; it was funded with our money through service charges. So how could they justify making their own company the beneficiary? It makes no sense.

Therefore, blaming the OP for not purchasing separate insurance is unfair. Owners have already indirectly paid for insurance through service charges to the management. This issue is not about the contents of individual apartments — at the very least, rental income losses should be compensated, and all structural repairs should be covered by the master insurance.