With NY/NJ declared a disaster from Hurricane Sandy that implies the 10% limit will not apply (with respect to Casualty loss).
Who would like to summarize what the expectations are in a situation like this. For my neighbors, their filing cabinets and what could be proven now became a near impossibility. I've read over Publication 584; Topic 515 and Form 4484 - topped that off with some light Publication 551 for good measures. But in all this a few direct questions are not answered.
Example:
FEMA helped with a check for $3,800 for emergency housing and another $6,200 for emergency repairs. FEMA monies are not required to be reported. So with that said, should I reduce the total loss value by that of what FEMA and the insurance company provided or just the $982.50 that the insurance company?
I read this as reduce by the $982.50 and call it a day. Now, I have LOTS of pictures, a list and more - but I am sure many of my neighbors do not. I will be offering my services free to any of the people in my immediate neighborhood. I figure any savings will help. I am a firm believer in the "PAY IT FORWARD" philosophy.
I know first hand that ALL of my neighbors lost their entire first floor and many their homes - some swept away - many uninhabitable.
The PILES of garbage (home debris, furniture - clothes - appliances - toys - EVERYTHING) were removed by front-end loaders and into dump trucks. From the streets they were taken to an old field. Then - larger dump trucks carted the mountain to an undisclosed location - The Dump I presume.
For many, FEMA has helped greatly - For others - near nothing. Not sure - I just know the squeeky wheel ususally gets oiled. I squeeked lots! Our 12 days of no heat, power or sanity were so overwhelming even I stopped telling people to list and take pictures. People just wanted to get rid of stuff and sit down for a moment. A desperate attempt to try to get some level of normalcy back.
Luckily, my house (my corner) is elevated (and built in the good old days) so we only sustained 6-8 inches in my basement. My neighbors had 4-6 feet of water running THROUGH their homes. My front yard (and road) had 5+ feet of water. I had put a sump pump in just two weeks before!! So - I was lucky. Though I live across from a lagoon I wasn't required to have flood insurance. My insurance covered $982.50 of wind damage. No water. Fema helped alot. FEMA saved a very light Christmas - That's for sure!
Who would like to summarize what the expectations are in a situation like this. For my neighbors, their filing cabinets and what could be proven now became a near impossibility. I've read over Publication 584; Topic 515 and Form 4484 - topped that off with some light Publication 551 for good measures. But in all this a few direct questions are not answered.
Example:
FEMA helped with a check for $3,800 for emergency housing and another $6,200 for emergency repairs. FEMA monies are not required to be reported. So with that said, should I reduce the total loss value by that of what FEMA and the insurance company provided or just the $982.50 that the insurance company?
I read this as reduce by the $982.50 and call it a day. Now, I have LOTS of pictures, a list and more - but I am sure many of my neighbors do not. I will be offering my services free to any of the people in my immediate neighborhood. I figure any savings will help. I am a firm believer in the "PAY IT FORWARD" philosophy.
I know first hand that ALL of my neighbors lost their entire first floor and many their homes - some swept away - many uninhabitable.
The PILES of garbage (home debris, furniture - clothes - appliances - toys - EVERYTHING) were removed by front-end loaders and into dump trucks. From the streets they were taken to an old field. Then - larger dump trucks carted the mountain to an undisclosed location - The Dump I presume.
For many, FEMA has helped greatly - For others - near nothing. Not sure - I just know the squeeky wheel ususally gets oiled. I squeeked lots! Our 12 days of no heat, power or sanity were so overwhelming even I stopped telling people to list and take pictures. People just wanted to get rid of stuff and sit down for a moment. A desperate attempt to try to get some level of normalcy back.
Luckily, my house (my corner) is elevated (and built in the good old days) so we only sustained 6-8 inches in my basement. My neighbors had 4-6 feet of water running THROUGH their homes. My front yard (and road) had 5+ feet of water. I had put a sump pump in just two weeks before!! So - I was lucky. Though I live across from a lagoon I wasn't required to have flood insurance. My insurance covered $982.50 of wind damage. No water. Fema helped alot. FEMA saved a very light Christmas - That's for sure!
