Experiencing a sudden disaster in your home can be a difficult thing to go through. Your first priority is to make sure everyone is safe. Once they are, and the dust has settled, it’s time to get your home back in order. The question is, how are you going to pay for it?
Depending on the damage, the cost of emergency home repairs can add up quickly. Before you schedule repairs, you should contact your insurance company and see what’s covered.
Covering Emergency Repairs with Insurance
If you have homeowner or renter’s insurance, you should have a degree of protection against damages and loss of property. The specifics of that can vary greatly from policy to policy, however. Fire coverage is pretty common, but water damage tends to be situational.
Even if you’re protected against “water damage”, that might not include flooding or damage caused by negligence or a lack of maintenance.
It’s always best to know what you’re protected against before disaster strikes. You may not be as protected as you think you are. While homeowner and renter’s insurance is something you always hope you won’t have to use, it’s very helpful in a time of crisis.
Other Means of Covering Emergency Repairs
If your insurance doesn’t cover your repairs, there are a few other options available. Many homeowners keep an emergency fund on hand for situations just like this.
If you don’t have the money on hand to pay out of pocket, there are still options available. Some use a HELOC (home equity line of credit) that provides money for unexpected home expenses. Alternatively, you may be able to refinance your home and put the additional funds towards repair costs.
Additional relief programs may be available, depending on your situation. Check with your local housing authority to learn what’s available to you. In cases of natural disasters, emergency relief may be available through programs such as the Red Cross or FEMA.
Finally, if all else fails, you can place your repairs on a credit card. The upside to this is that it provides an immediate way to pay for your repairs. The downside is that it has high interest rates, and your credit limit might not be high enough.
You may also consider starting a GoFundMe to give family and friends a way of helping you out.
However you go about paying for your emergency repairs, make sure to use a company that’s trustworthy and works quickly. At Reliant Restoration, we provide 24/7 emergency repair that you can depend on. Whether it’s storm damage, mold remediation, or fire restoration in Springfield, Ohio, you can trust that we’ll get the job done efficiently.
Contact us today!