Financial Resources for Covering Emergency Home Repairs

If you’ve been a homeowner long enough, you know that it doesn’t take much for something to go wrong with your house. A week from today the sump pump in the basement could stop working or a tree could come crashing through the roof. Whatever the problem is, it’s up to you to do something about it. If you don’t have the funds upfront to do so, that could put you in a real pickle. Fortunately, there are some places you could turn to get a couple thousand dollars to take care of emergency home repairs.

Homeowners Insurance

If your emergency home repair has anything to do with a natural disaster, fire, flood, or burglary, it may be covered by your property insurance coverage. Review your policy to see what is covered, and if you believe your repair falls within those categories, then give them a call to put in a claim. You will likely be required to pay your deductible, but that’s a lot more affordable than the entire repair.

Online Advance

If the problem can’t wait for the insurance claim process, you don’t have the money for the deductible, or it isn’t covered by your insurance, another quick solution to getting your home repaired is to take out a check advance online. You only need to be 18 to apply, have a good standing income, and verifiable income that meets the lenders minimum earning requirement. If approved, your account is funded the next business day. You could cover the repair now and pay the lender back later through flexible payment arrangements.

Your Employer

Depending on where you work, there may be several options for you to get your hands on some money fast. Talk with your human resources department to find out what they are. Some companies allow employees to receive their check in advance while others allow employees to cash in their sick and vacation days for cash. If you have a linked retirement account, you may also have the option to borrow from it. Keep in mind you’ll need to repay the loan even if you stop working for your employer to avoid penalties.

Get Handy

If you’re pretty good with your hands and the repair doesn’t involve electrical work or messing with the structure of the home, you may be able to fix the problem yourself. There are lots of do-it-yourself tutorials, books, and articles out there you could review for advice. You could save on the cost of hiring a contractor and only have to pay for tools and parts.

Wouldn’t it be nice if your home only broke down when you had the financial means to take care of it? Unfortunately, life and your home don’t work that way. When you’ve got a serious repair on your hands that can’t be put off, the above-mentioned avenues are all resources you can turn to to get your hands on some cash. Ultimately, putting up extra cash for a rainy day is the best option to avoid having to borrow money.