Are You Leaving 2 Big Ones on the Table?
Most residents are aware that the Board of Aquarius approved a Special Assessment 2018 to cover the expenses to fix the damages of the IRMA Hurricane of September 2018.
We had damages in the Air Conditioning Water Cooling Towers, in the Roof, in the floor cover of the hallways and several other areas. The insurance claim is still being composed.
Our Aquarius Condo. Association insurance policy has a deductible that must be covered. Regardless the amount of damage this deductible will be not be paid on the claim.
Attached you find the amount any unit owner needs to contribute to cover this deductible.
But this amount may get some help from your own private unit homeowners insurance policy. Most insurance policies under Florida law must cover what is called LOSS ASSESSMENT. The usual coverage is $ 2000.00. It is not enough but it helps.
This is what you need to do, if you didn’t do it already:
- Check out your Homeowners Insurance Policy
- Find if it covers the LOSS ASSESSMENT
- Submit the insurance claim with the attached documents.
If you can not print the attached documents the Management Office is likely to be able to help.
What if you do not have Homeowners Insurance covering your apartment? You will have to bear the full amount of the Special Assessment 2018 to cover the Aquarius Condo. policy deductible. It maybe be advisable to change or get your homeowners insurance policy for future mishaps.
The Condominium rules require all owners to have an Homeowner Insurance Policy.
Click the links for the documents you need to post your insurance claim:
2018 02 22 Irma_Special_Assessment Payments
2018 02 22 Special_BOD_Minutes
P.S.: Some owners and friends already got their $ 2,000.00 check from their insurance. Did you?