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FAQ

NoDuk FAQ

We are currently very short of cash, but we had to contact a repair service to repair the roof damage caused by the heavy thunderstorm. Our deductible is $ 1,000, and we know we can’t pay now, but we can’t wait for the limit. What if we can’t afford to pay our home insurance deductible?

We are sorry for the roof damage and your financial pain. The situation can be devastating, but don’t panic. Just because you can’t afford the home insurance deductible doesn’t mean you can’t claim it anyway.
The amount deducted from your insurance check when a specific claim occurs is called insurance deductible. You may hear the phrase “after the deduction is paid” when the coverage begins. You don’t “pay” the deductible to the insurance company. Instead, you’ll usually pay for the repairs (or medical bills for health insurance) in a deductible amount before the insurance pays the rest.
The deductible amount you pay from your pocket when making a claim. The deductible amount is usually specific, but it can also be a percentage of the policy’s total compensation amount. For example, if you have a $ 1,000 deduction and a car accident, repairing your car will cost you $ 4,000.
The simplest way to determine if a high-deduction plan or a low-deduction plan makes sense is to consider your health.

If you are young and healthy, you need more than preventative care, in which case a high deductible plan may be a great option. On the other hand, if you are older, have long-term health problems, are pregnant or plan to have a baby, play high-risk sports or activities, or need an expensive prescription, the lower deductible is more attractive due to health problems. It also helps you save money and evaluate your budget. If necessary, consider how easy it is to meet a higher deductible. If you can use HSA with a high deduction plan as employee benefits, ask yourself how much you can pay each year.

(Note: Like other tax incentive accounts, HSA has an annual contribution limit of $ 3,600 for self-insurers and $ 7,200 for family insurers in 2021. Consider how much you can pay with a monthly premium for a low deductible plan. Weigh it against the value of getting medical care without giving a significant deduction when you need it.
Buying insurance means you are protected from unforeseen risks that can lead to loss and damage and dent your finances. It reassures you that you have something you can count on. The insurance company will cover any losses that could have an economic impact, but they will ask you how much risk you can take with your money. It’s like making a deal-as long as you agree to pay the risk you’re willing to take, you’re protected, which is called an insurance deductible. The insurance deductible is up to you. In general, opting for a larger deductible reduces the risk to the insurance company. That decreases the cost of the policy. There is also a minimal deductible. The insurance company will offer a minimum deductible when you agree to pay a portion of your claim. If you need to save money with insurance, you can increase your deductible. However, it cannot be lower than the insurance company says.

Still have you any problem for solutions?

For any inquiries relating to my Retail and Leadership Programs or Coaching and Mentoring services feel free to speak to me personally by call us during business hours.

Head office address:


8 The Green
Suite# 8234
Dover, DE 19901

Call for help:

1-855-NODUK99

Mail for information:

info.noduk.com