What options do I have if I can’t afford my deductible?

What options do I have if I can’t afford my deductible?

Even if you can’t afford your deductible all at once, you still have options. All though paying your deductible is required, paying it all at once is not. You can ask your contractor to see if they can finance it for you

Why Is Important

Not paying for your deductible could get you and your contractor into a legal situation, but having a legal binding contract that ensures you will still be responsible to pay for your deductible is a great option. Yes, you’re still paying for your deductible, but spreading the amount into payments should help you financially. 

Insurance companies really care that policy holders pay for their part of the burden.  

How Would Financing Work

• Inhouse: Your contractor could finance your deductible. Usually this is done without interest added to the financed amount, since normally contractors are not licensed lenders.
• Lending Company: Your contractor would have a lending company they work with and have you sign a financing agreement directly with them .
  

FYI

Ask us if you qualify for inhouse financing we might be able to help you. We understand times can be hard for many property owners nowadays, but that should not be a reason to hold you back from restoring your property.

Disclaimer. Non of this is legal advice, just generic information for educational purposes and to share, if you need legal advice contact your attorney.