It is like if your 5 year old car gets totaled in a car accident, the insurance company doesn't give you a new car.

I do not want to go the attorney route  expense and find my way very well with legal matters, reseaching titles, etc and have represented myself well in auto accident suit as plaintiff and in other matters. 

A property that cash flows on paper may in fact cause you large cash losses for years due to unexpected/unforeseen capital expenditures or skillful professional tenants who evade eviction for months or years, etc.

The emotionally-dependent wife that can't help enabling him, but has to leave him when he becomes a danger to his children.The childhood accident that leaves a very young girl permanently scarred and she chooses a completely marginalized husband because it's precisely his marginalization that allows him to understand her own.

Is it by accident or by design?

This is not by accident.  

I have some cash reserves on the side just to cover any unexpected expenses if it cannot cover itself (hopefully these kind of events don't occur often).

those companies treat the plant workers like expendable little pieces in the machine, the conditions are brutal, and those plants were all super spreaders at one point I don't understand that statement really because there are few accidents in my whole life of living here.

This covid thing is a true accident in the great world of the history book.

I have seen condo owners assessed10s of thousands in special assessment by boards to do unexpected repairs and upgrades.