Today we're talking about two things everybody hates. We're talking about flood insurance and taxes. These are two subjects that everybody dreads coming up. However, today we're talking about maybe some ways that these two can actually help benefit you as a property owner. What we want to talk about is how can your taxes benefit when it comes to flood insurance or how can your flood insurance benefit. First of all, just take this as it is that we're not giving tax advice. We're just showing you some ways of how flood insurance can be used just like a normal business expense. When it comes to flood insurance on your primary residence, of course, it's not going to be able to be written off on your taxes as an expense because it's just like regular home insurance and things like that.

However, when it comes to rental properties that's a different subject there because that is considered an investment property and so things can be considered business expenses like flood insurance. So, when you're writing these things off on your taxes that might be a way for you to get some of those flood insurance premiums back that you've been having to pay throughout the year. These are how flood insurance and taxes can kind of go hand in hand. However, we always recommend reaching out to a tax expert when it comes to reviewing these things. But if you do have questions when it comes to flood insurance, maybe on your investment property, maybe on your primary residence. How could you benefit the most, get the most coverage for your premiums like business loss of use if your investment property floods, getting loss of rent and some other things like that? That's what we're here for.

If you've got questions about these things, you can always reach out to us. Our website is floodinsuranceguru.com. You can subscribe to our YouTube channel or like our Facebook page where we do daily flood education videos. You can also give us a call (205) 451-4294. Also, click the button below if you want to learn more about these subjects and see how we might be able to help you. Thank you.

Chris Greene

Author

Chris Greene

President of The Flood Insurance Guru
M.S. in Emergency Management with a focus in Flood Mitigation
flood@communityfirstagency.com