Almost everyone knows that trees and other living plants are valuable. They beautify our surroundings, purify our air, act as sound barriers, manufacture precious oxygen, and help us save energy through their cooling shade in summer and their wind reduction in winter.
Many people don’t realize, however, that plants have a dollar value of their own that can be measured by competent plant appraisers.
If your trees or shrubs are damaged or destroyed, you may be able to recapture your loss through an insurance claim or as a deduction from your federal income tax.
Here is some practical advice that may help you find out what your trees and plants are worth (a process known as valuation).
An Arbor Care professional in the tree, nursery, or landscape industry can help you plan, develop, install, and care for all of your trees and plants so that each of them will be worth more to you.
A casualty loss is defined by the IRS as “…a loss resulting from an identifiable event of sudden, unexpected, or unusual nature.” This definition can include such events as vehicular accidents, storms, floods, lightning, vandalism, or even air and soil pollution.
If you suffer damage to trees or landscaping from any type of casualty, first consult your home owner’s insurance policy to determine the amount and kind of coverage. Contact the insurance company to have an appraisal made by a professional appraising service, such as Arbor Care. It is important that the appraisal is made right after your loss or damage. The appraisal will establish the amount of your loss in financial terms, including the cost of removing debris and making repairs as well as replacements.
All of these steps are wise investments and well worth the cost you may incur for the inspection.