Homeowner's Insurance
Hurricanes Typhoons and Cyclones

If the homeowner performs some of the necessary repairs caused by hurricane damage what is the best way to document these expenses?

138139140

Top Answer
User Avatar
Wiki User
Answered
2015-07-16 18:06:56
2015-07-16 18:06:56

Your insurance actually requires that the insured make all reasonable and necessary repairs to prevent further damage to the property. The company should consider the value of what you have done and, if you have documented your efforts with receipts for items purchased and amount of time spent doing temporary repairs, they would be able to consider this as part of the claim.

Best of luck to you...we were flooded by the remnants of Tropical Storm Gaston last August, have flood insurance, and still went throuugh the ringer trying to get compensated...I don't know about your homeowners, but our flood insurance had TWO deductibles, one for contents, one for building..each deductible was $500. Also, we were totally honest, had replacement cost, but, at least w flood insurance, then still take off depreciation. Also, any work you do yourself, they only pay you minimum wage to do the work--you might as well hire a professtional. This happened to me in Virginia and my step dad in Illinois.

001
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0

Related Questions


no, it is not necessary

To document your business expenses, you should keep any receipts and invoices, and your bookkeeping has to be in order.

One fourteenth share in the profits, expenses, and funeral expenses (if necessary).nothing

*total your income *figure out how much money you are spending. *categorize your expenses to show where your money goes. *determine if your expenses are above or below your income. *reduce expenses in flexible categories to save or increase savings

The intent of the document is to show both the income and expenses.

In order to qualify to refinance a home loan, the homeowner must not be in default. The homeowner must make a certain amount of income in a year and their monthly expenses cannot be more than 31 percent of their income.

No. The injured party cannot be a household member. It does not matter if they are not listed on the policy.

All ordinary and necessary business expenses

It authorizes your base to pay for expenses for certain type of funds

No. You should keep the expenses paid and sue the other owner if necessary. Perhaps you should make an agreement to buy them out and deduct the amount they owe for expenses from the purchase price.

Calculate Income Categorize and List your expenses - Include a plan for "savings" in this Total Up Spending Determine If Spending / expenses are Below Income Reduce expenses in flexible categories if necessary

Almost all policies will cover living expenses if a homeowner is forced to move.

It appears to refer to a document which contains a listing of medical procedures which, although they might be tax deductible, you will not be directly reimbursed for. Without the document containing this phrase there is no way of telling what they might be.

Boards are expected to spend monies according to the annual budgets which owners ratify yearly. There may be extra-ordinary expenses, which the board must explain.

Medically necessary dental services is covered but call your provider first. Some Medicare Advantage plans regular dental benefits.

Medicaid covers "necessary" medical care, which includes virtually all basic services. However, the definition of "necessary" varies from State to State.

In insurance, PIP is an acronym for Personal Injury Protection. In some states, PIP provides coverage for an insured person for certain "reasonable and necessary" expenses. The types of expenses that qualify for PIP coverage vary from state to state, but some examples of expenses may include: loss of services, income continuation, medical and hospital expenses, funeral expenses, and child care expenses for bodily injury caused by a covered accident (regardless of who was at fault).

warrant is a general term for the document authorizing the officer controlling expenditure to incur expenses.

debit all the necessary expenses credit the appropriate cash account

A retaining wall is considered part of coverage B or other structures protection. This coverage applies to structural damage only, and is somewhat limited. If someone is injured (while walking on a retaining wall etc.) certainly the homeowner could be liable for any medical expenses incurred as a result of the injury.

PERSONAL INJURY PROTECTION (PIP) COVERAGE In some states, this provides coverage for an insured person for certain "reasonable and necessary" expenses. The types of expenses that qualify for PIP coverage vary from state to state, but some examples of expenses may include: loss of services, income continuation, medical and hospital expenses, funeral expenses, and child care expenses for bodily injury caused by a covered accident (regardless of who was at fault). Click your state name below to see coverage details in your state.

A company can reduce expenses, such as layoffs, or reducing the cost of necessary materials.

Yes all ordinary and necessary expenses of the business operation would be deductible.

Because it is a part of the family support that helps pay some of the necessary living expenses.


Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.