Heather Walk Condominium is a gated subdivision of Miami, Florida.
The community features eight residential buildings housing 240
individual units. Between buildings are winding sidewalks lined with
a variety of palm trees. This well kept neighborhood adjacent to the
Falls Shopping Center is 25 minutes south of Miami International
Airport, 15 minutes from the City of Coral Gables. Residents enjoy
amenities such as on site professionals, limited pet restrictions, two swimming pools, children's wading pool, & security enforced parking.
Heather Walk Condominum Commercial Property Insurance
Assoc. policy deductible is 3 percent of each building value !
The Association maintains commercial property insurance. Coverage does not insure the interior individual units or cover flooding. Owners are responsible for and mandated by the State of Florida to purchase homeowners insurance for their unit. Within the association policy there are different levels of deductibles. Deductibles for windstorm
and hail are 3% of the value of each building with all other non
windstorm and hail perils at $1000 for each building per claim. The
following is an example of a claim using real insured values.
With the clubhouse insured for $571,900 a hurricane strike delivers
$571,900.00 in damage meaning a total loss.
The deductible is $17,157{571,900 x .03. In this example of a total loss the association owners would be special assessed for $17,157.
In another example using real insured values building 8 is insured for
$1,717,800 & sustains a total loss through fire.
The deductible is $1000 [1 building x $1000]. In this example of a non
windstorm, non hail event unit owners would be assessed for $1000. In both examples the assessment is divided & paid by all 240 units.
Fire Alarm Testing results from Sat., June 27, 2009 revealed:
Miami-Dade Fire Rescue Department report dated 06/27/09 reveals a
10 point list with mixed results. The fire alarm system as installed did not pass in order to receive a certificate for buildings 1, 6, 7, 8.
1. Fire alarm not approved.
2. Provide mechanical ventilation in electrical room.
3. Provide the correct size backup batteries.
4. Provide a letter stating all interior speakers have been tested.
5. Revise plans to show as built.
6. All pull stations, smoke detectors, and heat detectors tested, OK
7. All troubles, phone lines, AC electrical, and battery troubles at the facility tested OK
8. Location and candles checked out OK
9. Verified signals with monitoring company OK
10. Need to test each battery for 5 minutes in each building when correct batteries are installed. {Audible within each unit}