Emergencies rarely happen when you are financially fit, and water damage is no exception to this rule. It seems as if a leak or a flood always happens at the most inconvenient time. But really, there is never a great time for water damage. So how can you handle your water damage cleanup in Long Beach Island if you’re already broke? Here are some suggestions for financial resources to look into.
Insurance
The very first place you want to check with is your homeowner’s insurance when you have any kind of water damage in your house. Many times flood insurance is covered in the basic insurance plans, but you will need to double check with your insurance company. If you are a renter, your landlord’s insurance or your rental insurance will most likely cover this. You will need to contact your rental insurance and see what they suggest in the event of you requiring water damage cleanup in your rental, because they may need to negotiate with your landlord’s insurance about who will be covering what. You might even be able to get a comped hotel while repairs are being done, so make sure you ask about this as well.
Payment Plans
Some companies with high estimates will offer a payment plan to help you pay your bills in installments. This can be an invaluable option if you have to pay for the water damage cleanup out of pocket. These emergencies cannot be helped and they also cannot be ignored. You can’t just live with no running water in your home because you have a major leak. Make sure you discuss the payment options that Stretch Cleaning offers when you are having your consultation done for your house.
Renovation Loan
Another option that many people find very helpful is a loan from a bank, mortgage lender, or credit union. If you are buying a home that already has visible issues and requires water damage cleanup from the get-go, you might want to consider applying for a renovation or a construction loan from your mortgage lender. With this option, you will be able to get a larger loan than the price of the house and use that money toward fixing it up. Many times you can get a renovation loan even if you are not buying the home for the first time. Contact your bank, credit union, or mortgage lender to see what kind of options they have available for you. Most of the time the amount borrowed is dependent on the potential value of the home and your credit standing.
Though there never seems to be a good time to have water damage in your home, there are a lot of options that you can explore without having to call your parents to bail you out. Fixing water damage in your home is something that can’t and shouldn’t be put off. If you leave your water damage issues to sit they only become bigger, more expensive, and more of a threat to your health.
