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Receiving Money After a Claim
To get an insurance claim payment, you’ll need to pay your deductible. Until you do this, don’t expect any coverage. If you can’t afford the deductible, you’ll need to find a way to procure the funds. Or, you can file the incident with your provider, not pay anything, and cover the costs yourself. If you’re looking for other options, though, you have several to choose from.
Get Coverage Without Upfront Payments
Some policies don’t require upfront deductible payments. They’ll just subtract the deductible from your coverage after an incident. To do this, however, you’ll need to find out the actual cash value of your vehicle. Your car insurance provider can help with this, but it’s a good idea to have an estimate beforehand.
Find Affordable Repair Options
If you can’t pay your deductible, you can still search for an affordable mechanic. Repair your vehicle enough to make it drivable—and pay your policy’s deductible when you have enough money. Your mechanic may also waive your deductible, if you ask. Just make sure they don’t overcharge your provider to get the deductible’s cost back—as this is illegal.
Get a Payday Loan
Sometimes, it’s better to take out a loan to cover a deductible payment. If you need to pay a deductible upfront, you can finance the payment with a payday loan. This may not be ideal, but it might be necessary if you absolutely need a drivable vehicle.
Lower Your Deductible Ahead of Time
You can circumvent the stress of surprise deductible payments by lowering them, beforehand. In fact, you can adjust your deductible to a cost of your choosing. To do so, adjust your auto insurance premiums. You might pay more for them, but your deductible payment can be as low as $300.
Ask your auto insurance provider about their available options. If you’re in a tight spot, you can still find a way to pay. In any event, your best bet is to lower potential costs before they exist. Car insurance policies are flexible, giving drivers several economical options to choose from.