How to Fund Insurance Losses Which Exceed Coverage
- 1). Call your insurance claim agent and discuss the decision that was made. You may be able to submit further proof that you're entitled to more money, and you may even discover a mistake was made. If you speak with your agent and still believe your claim settlement is unfair, you can appeal the decision through the insurance company and ask for another agent to review your case, If a new decision is made, you may get your losses covered after all.
- 2). Take out a personal loan or a line of credit. Banks, credit unions, and other lending institutions can review your credit history and determine whether you're eligible for a secured or unsecured loan to cover your losses. A secured loan requires you own some kind of collateral, like a house or car, that the lender can take if you default on the loan. Unsecured loans don't require you have any collateral
- 3). Ask your family and friends for loans or donations to help you out. Even if they can only give a little bit, you'll still be able to slowly start recovering some of the loss you've suffered.
- 4). Hold a yard sale or bake sale, sell some of your personal possessions online, and offer to wash your neighbors' cars or cut their grass.
Source...