I sustained roof damaged along with some other more minimal damage due to Irma (Some water intrusion causing flooring to warp, lost screens, etc.).
My insurance adjuster calculated the covered amount of damage to be ~$15k, which was the roof only. The remaining items were not covered by my policy. My deductible is $8,600.
I'm looking at form 4684 for deducting my deductible amount from my taxes and am confused on the before and after casualty FMV value of my home. It seems that the FMV is based on a sq. ft method and but I'm confused if the before and after value is effectively equal to the amount of the instance adjuster estimate?
Also, for the other minor damages, what is an effective approach to calculate the causality loss of these as the insurance agent would not provide estimates for non-covered amounts?
Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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