After a hurricane, the building’s deductible becomes the owners’ bill. At The Ritz-Carlton Residences, South Beach, one line in your own policy decides how much of it you pay yourself.
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The association insures the structure under a master policy whose windstorm deductible is a percentage of the building’s insured value, so on a large tower it is a large sum. After a storm the association pays the deductible and any uninsured repair, then recovers them from the owners by special assessment, each paying the share the declaration sets.
The Ritz-Carlton Residences, South Beach: 30 residences over 15 storeys, one to five bedrooms, including two duplex penthouses with private rooftop terraces, pools and kitchens; sales launched February 2025; delivery planned 2027.
Read it against the Kempinski Residences Miami Design District dossier for the nearest comparison.
Loss assessment coverage is the part of an owner’s HO-6 policy that reimburses an assessment levied after a covered loss. Florida requires every owner’s policy to carry a minimum amount of it. That minimum is small against a deductible share on a waterfront tower, so owners often raise the limit by endorsement.
The Ritz-Carlton Residences, South Beach: 1671 Collins Avenue, Miami Beach, oceanfront in South Beach proper, adjacent to the Lincoln Road corridor.
Some policies cap what they pay toward the master deductible. An assessment for wear, a code upgrade or thin reserves is not a loss assessment at all. Flood follows its own policy.
What is the master windstorm deductible, and against what insured value? What share of common expenses does this residence carry? What limit would match that share? Does the policy pay a deductible assessment in full or under a cap? The desk reads the budget with you and introduces an agent for the policy.
Your share of the building’s deductible is a number. Insure the number, not the minimum.
Developer materials for The Ritz-Carlton Residences, South Beach as carried on the live dossier, verified September 2026. Compiled by the desk at Miami Dossier; figures are approximate and the developer’s.
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