Have a claim damage estimate before filing the claim that is well above your deductible amount 2.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

The interest payments will be additional deductions/expenses. 

.- Utilize depreciation deductions to reduce taxable income.- Understand passive activity loss rules limiting deduction of losses from passive activities.Capital Gains Taxes- Be aware of tax implications when selling property, considering short-term and long-term rates.- Explore strategies like 1031 exchanges to defer capital gains taxes.Deductions and Expenses- Know eligible deductions: mortgage interest, property taxes, insurance, maintenance, and management fees.- Maintain detailed records of all real estate-related expenses.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Deductibles can be a problem too.Warranties are a high profit business for a reason, because the pay out is nothing compared to the pay in.

Short answer: no, not a direct offset.Longer answer: if you already have enough itemized deductions to exceed the standard deduction, then yes.

Make sure you find someone who is well versed in depreciation and 179 expense and also think about the timing of when you pay property tax deductions. 

My husband was thinking we could take the mortgage interest deduction (since we don't have a mortgage on our primary residence), but now you have me wanting to run the numbers with 75% or more down. 

For doors and knobs, explain what is normal wear and tear and mention deductions for damages.