answersLogoWhite

0


Best Answer

No, but you cannot claim the loss on taxes.

User Avatar

Wiki User

15y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Are insurance claims from hail damage to home and auto taxable?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What types of collision insurance claims were reported for auto damage in 1991?

All of them.


What Physical Damage is usually covered with Auto insurance?

Damage to both people and property are covered by auto insurance. Aside from protecting the insured against the claims of others (for bodily harm or property damage, for example), auto insurance typically helps pay for medical expenses needed by the insured or other person involved in the accident AND it covers costs leading to loss or damage of the automobile stated in the insurance.


What company claims to have the cheapest auto insurance rate?

Geico claims to have the cheapest auto insurance rates. You can get more information about auto insurance rates from Geico at the official Geico website.


Do you pay taxes on an auto insurance settlement?

I had a huge settlement from an auto insurance company and it was not taxed. However I believe that was because my attorney negotiated a type of settlement that made it non-taxable. I thnk it has to be considered "punitive damages" or something like that for it not to be taxed. Update - Generally, amounts paid for personal injury and property damage are NOT taxable. Amounts paid for punitive damages and loss of income ARE taxable.


Will insurance pay for a DUI wreck?

Yes, your auto insurance policy will respond to damage claims even though your may have been intoxicated at the time. However, you may also see a steep increase in your auto insurance rates for the near future.


20 percent of all insurance claims for auto damage in a 1991 study of 4 metropolitan areas involve?

parking lot collisions


Is there a national auto insurance claims registry?

yes


How can you make a auto insurance claim?

Call your claims department. This is found on your auto id card or insurance paper work.


What is the average rate for auto insurance claims in the US?

The average rate for auto insurance claims in the U.S. is around eighteen hundred dollars. However the prices can vary depending on where you live.


Where can you look up your auto insurance claims history?

From your insurance carrier or carriers. They usually can give you a report showing all your claims filed with them.


Do you pay taxes on auto insurance settlement for bodily injury?

No. This type of settlement is not generally taxable.


Does homeowners insurance cover auto damage caused by wind?

No. that's what Auto Insurance is for. Home insurance covers damage to your home from wind, hail, fire, lightning etc. Likewise, your auto insurance, comprehensive coverage would repair wind, fire, hail and lightning related damage to your vehicle.