Extension > Family > Families in Tough Times > Disaster Recovery > Financial information for flood preparation and recovery
Financial information for flood preparation and recovery
Review insurance before disaster
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Review your policy with your insurance agent before disaster strikes. For instance, flood damage is not covered by standard homeowner policies.
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Settling property insurance claims
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Don’t be in a hurry to settle your claim. Often, people are so anxious to have their home restored after a disaster, they sign off on a settlement before damages are fully discovered. Complete Transcript
Do you have a grab and go file?
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A ‘Grab and Go File’ is a collection of all the important papers and information that you can just pick up and leave with, if, for instance you had to evacuate your home.
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Income tax deductions for property loss
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Deductions, which are allowed for partial or total loss of personal or business property, could greatly reduce the amount of federal income taxes owed for the year the disaster occurred.
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Records for a disaster insurance claim
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Good records save a lot of headaches even when disaster doesn’t strike you. But if it does, know what to do that will help you with the insurance claim process.
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