The short answer: the current documents show about $32.7 million of stated property capacity. The important answer: the signed Helix application now reveals the building values used to support that tower - including a uniform $164 per living square foot valuation - and Helix can limit recovery for an individual building or structure to 110% of the value on file.
The signed August 28 Helix application includes the Association's Statement of Values. It lists $26,985,216 of building replacement cost plus $5,723,200 of garage replacement cost, for a total insured value of $32,708,416. Residential building values use a uniform $164 per living square foot.
Why this matters: Helix says its liability for any one building or structure cannot exceed 110% of that property's stated value. If those values materially understate actual reconstruction cost, unused policy limit elsewhere does not automatically erase the building-specific cap.
Open the signed Statement of Values →In the Association's owner-vote presentation, the Board described the then-current State Farm policy as “60% replacement coverage” and said a 100% replacement-cost policy was substantially more expensive. The current State Farm declarations now show $22,613,700 of blanket building coverage plus $288,200 of business personal property, totaling $22,901,900. The later Helix policy adds $9,806,516 above that layer.
Board source: Association “Summary of Owner Ballots” presentation, which states: “Current State Farm policy (60% replacement coverage).” Source copy is on file with this site.
If $22 million represented only 60% of replacement value, the implied full value was about $36.67 million. On that historical assumption, the uninsured difference was about $14.67 million - roughly $149,660 per owner across 98 units if allocated equally.
Using that same $36.67 million implied replacement-value benchmark only as an illustration, the new nominal gap would fall to about $3.96 million, or about $40,390 per owner if allocated equally. That is still almost 2x the current $20,408.16 roof assessment - before deductibles or building-specific limitations.
The Statement of Values is not missing anymore. It is in the signed Helix application and was signed by Board President Mark Reynders on August 28, 2026. The key question is now whether those submitted replacement-cost values were adequate when the excess policy was bound.
Helix does not replace the underlying policy. Its $9,806,516 layer attaches above $22,901,900 and responds subject to the policy's terms.
The Helix Margin Clause says liability for one building or structure cannot exceed 110% of the value assigned to it in the latest Statement of Values or other valuation information on file. The signed SOV now shows those values.
Helix defines a Covered Location by reference to the most recent Schedule of Covered Locations accepted by Helix.
Helix requires the underlying insurance identified in its schedule to remain in force at not less than the required underlying limits. That means the State Farm renewal after January 30, 2027 matters because Helix continues for another seven months. The renewal should be checked against Helix's underlying-insurance requirements when it is issued.
Also worth knowing: Helix is a nonadmitted / surplus-lines insurer. Its policy notice states that it is not protected by California insurance guarantee funds if the insurer becomes insolvent. That does not mean the policy is invalid; it is a disclosure about the type of insurer and regulatory protections.
Status correction: the September 17 owner follow-up requested the current State Farm declarations. Those declarations have since been received, so that part of the request is now satisfied. The Statement of Values has also now been located inside the signed Helix application. The Covered Locations and Underlying Insurance schedules remain the material missing verification items in the record available to this site.
If the loss is covered by both layers, the affected locations and building values support the claim, and no exclusion, sublimit, deductible or other limitation changes the result, the stated limits appear sufficient for that simplified $30 million example. But the Helix Margin Clause means the building-by-building values can matter even when the total policy tower looks large enough.
The signed finance agreement shows an $11,837.99 down payment and ten monthly payments of $2,917.41. These are costs of obtaining the excess layer; they do not themselves establish what a future claim will pay.
The one-page SOV signed with the Helix application. It lists each building, square footage, building replacement cost, garage replacement cost, the $164-per-square-foot residential building rate, and the $32,708,416 total insured value.
Current underlying property declarations, premises schedule, limits, forms and endorsements.
Issued excess policy, including the attachment point, Covered Locations definition, Margin Clause and exclusions.
Evidence of the $9,806,516 excess property layer effective August 31, 2026 to August 31, 2027.
Shows the down payment, financed balance, 16.25% APR, finance charge and ten-payment schedule.
Documents the $1,225 broker fee and the $11,837.99 initial insurance payment.
The owner request explaining why the current declarations, Statement of Values and Covered Locations schedule matter. The current State Farm declarations have since been received.
The full signed Helix application contains e-signature audit metadata, including IP-address information that is not necessary for owners to understand the coverage. The site therefore posts the substantive one-page Statement of Values separately, together with the issued policy and other material coverage records.