flood insuance

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joey90x

Massapequa Park, NY

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#1
Nov 7, 2012
 
anyone know what to expect from the adjuster when he inspects your house, is he gonna lowball or do theright thing to get the house repaired right

Since: Dec 12

United States

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#2
Dec 28, 2012
 
What was your experience Joe? Although we had the adjuster come through like Nov 8th, and I thought he was extremely thorough, and we haven't, seen any report so far and it is 12/28! A lousy 7g advance, and that didn't cover the rip out. The house could have been almost rebuilt by now.
Lori

Brooklyn, NY

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#3
Dec 28, 2012
 
Hopefully it is nothing to worry about but a heads up to my neighbors. I called the IRS yesterday to understand if flood insurance payments for 2012 or 2013 will be taxable. I was told that disaster tax lax is in IRS publication "547". The details on tax law 547 are currently only available for 2011. The 2012 and 2013 version is not yet available so we have no idea yet what is to come so please be careful!

Since: Dec 12

United States

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#4
Jan 3, 2013
 
Lori, you shouldn't have any problems if you can match the cost s of the loss with the proceeds.

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