When our daughter was flooded out of her condo, she stayed with us and we received compensation from the insurance company

Do you have a question about the insurance payout?

Yes.  Is it counted as income?  and if so, where do we enter it on the return?  Also we received $300 class settlement for asbestos insulation.  Is this income?

No, not counted as income. No need to report either amount.

thanks for the info

No, you don't need to report the insurance compensation nor the settlement as income.