What Is the 3-Step Process to Use Fund My Deductible?

Updated

Fund My Deductible (FMD) is a platform that contractors use to fund homeowners' insurance deductibles instead of financing them. According to the company, the process has three steps: register as a contractor, sign up your customers, and receive and track income. FMD advertises a 5-minute setup and a free trial, so you can evaluate the workflow before committing. The steps below follow the sequence published on fundmydeductible.com.

Step 1: Register as a Contractor

This step sets up your company and the people who sell for it.

  1. Go to fundmydeductible.com.
  2. Set up your company profile.
  3. Register your sales team.

Expected result: Your company and salespeople exist in the system, which is what allows customer deals to be attributed and tracked later. FMD describes this as part of a 5-minute setup, so the registration itself is meant to be quick — the time cost is mostly in gathering your company and team details before you start.

Step 2: Sign Up Your Customers

This is where the deductible funding arrangement is actually created for each homeowner.

  1. Set up your customer's custom payment plan.
  2. Receive the executed funding agreement.
  3. Keep all parties informed.

Expected result: A signed funding agreement exists for the customer, and everyone involved — contractor, salesperson, and homeowner — has visibility into the arrangement. The "executed funding agreement" is the key artifact here: it is the document that supports collecting the deductible, which is why FMD frames this step around compliance rather than just payment collection.

Step 3: Receive and Track Income

Once agreements are in place, the platform becomes a monitoring tool.

  1. Use the contractor and salesman portals.
  2. Monitor income.
  3. Track performance.

Expected result: You can see incoming funds and measure how individual salespeople are performing. Because there are separate contractor and salesman portals, both the business owner and the sales team can view relevant income without sharing one login.

The Three Steps at a Glance

Step What you do What you get
1. Register as a contractor Set up company, register sales team Company and team active in the system
2. Sign up your customers Build payment plan, receive executed funding agreement, inform all parties A signed funding agreement per customer
3. Receive and track income Use contractor and salesman portals Income monitoring and performance tracking

What FMD Emphasizes About This Process

  • Speed: The company markets a 5-minute setup, so registration is not intended to be a lengthy onboarding project.
  • Free trial: FMD promotes a free trial as the entry point, which lets you run the three steps with real or test customers before deciding.
  • Compliance framing: FMD states it pioneered deductible funding that is "endorsed by the industry," and its materials reference attorney Steve Badger describing FMD as a tool to help contractors stay compliant while legally collecting deductibles. That framing is the reason the executed funding agreement in Step 2 matters — it is the record that supports the collection.
  • Deal volume: FMD claims contractors close "2x more deals" by funding deductibles rather than financing them. Treat this as a company claim, not a verified benchmark.

Common Points to Clarify Before You Start

  • Pricing after the trial: The site promotes a free trial but does not publish plan pricing in the material reviewed here. Confirm cost and contract terms directly with FMD before your trial ends.
  • Who signs what: Step 2 assumes the homeowner executes a funding agreement. Understand your obligations and your customer's before presenting it.
  • Team structure: Decide who needs a salesman portal login versus contractor-level access, since income visibility differs between the two.
  • State and carrier rules: Deductible collection practices vary by jurisdiction and insurer. FMD's compliance positioning does not replace your own review of local requirements.