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Re: Help - post hurricane
by Katiekate (New York)
on November 1, 2012 @10:14
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That is exactly true.
I had this experience with my condos after 3 (three!) Cat 3 hurricanes went thru the neighborhood in 2005. I paid for all repairs and it was a business expense on my taxes that year.
If you did not have Federal Disaster Insurance you are out of luck. FDI can only be used once per property...so, if a previous owner used it, or you used it (Or, maybe you never signed up for it and paid it?) that is also not going to be there for you. Insurance does not pay for floods.
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