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What is Fund My Deductible?
Fund My Deductible (FMD) is a platform for home-improvement contractors and their sales teams to fund homeowners' insurance deductibles through a structured payment plan, rather than having the contractor absorb or finance that cost. The pitch is that this keeps contractors compliant while collecting deductibles legally, so they stop losing deals to customers who balk at paying a large deductible up front.
How it works, per the site's stated three steps
- Register as a contractor: set up your company and register your sales team through the site.
- Sign up your customers: create a custom payment plan, issue an executed funding agreement, and keep all parties informed.
- Receive and track income: contractor and salesperson portals let you monitor income and track performance.
The site claims a 5-minute setup, a free trial, and "2x more deals closed," and notes it has been referenced in industry news and at contractor events as a compliant deductible-collection tool.
Who it's for and the trade-off
The audience is roofing and other exterior/restoration contractors whose customers owe a deductible after an insurance claim. The appeal is closing jobs that would otherwise stall on that payment. The trade-off is that you're adding a third-party funding arrangement and payment plan to every affected job, which means extra paperwork, disclosure to the homeowner, and a workflow your sales team has to learn — worth it mainly if deductible hesitation is a recurring reason you lose signed contracts.
If you're evaluating it, run one month of deals through the free trial and compare your close rate against your normal process before rolling it out company-wide.
How does Fund My Deductible help contractors close more deals?
Fund My Deductible helps contractors close more deals by turning the customer's deductible from an upfront cash obstacle into a structured payment plan. The site's core promise is "NEVER LOSE ANOTHER DEAL" and "STOP FINANCING AND START FUNDING TODAY" — the pitch is that when a homeowner can't or won't pay a large deductible out of pocket, the contractor can offer a funded payment plan instead of walking away from the job or absorbing the cost.
The mechanism, per the site
The page describes a three-step process:
- Register as a contractor — set up your company and register your sales team on the platform.
- Sign up your customers — create a custom payment plan for the homeowner, receive an executed funding agreement, and keep all parties informed.
- Receive and track income — contractor and salesman portals let you monitor income and track performance.
The site also claims a 5-minute setup and "2x more deals closed," and says the approach is endorsed by the industry and positioned as a compliant, "legal" way to collect deductibles — it cites a conference mention of FMD as a tool for contractors to stay compliant while collecting deductibles.
Why this can move the close rate
The practical bottleneck in deductible-heavy work (roofing, storm restoration) is usually the homeowner's cash position, not their willingness to buy. A payment plan converts a single large objection into a monthly figure, which is easier for a salesperson to present and for a homeowner to accept. It also gives the sales rep something to offer at the moment of hesitation rather than sending the customer away to "think about it" — which is where deals typically die. Keeping the agreement and payment status visible to contractor and salesperson also reduces the follow-up friction that stalls paperwork.
Trade-offs to weigh
- Contractor-funded or third-party-funded deductible arrangements carry legal and insurance-compliance risk in some states; the site leans on its compliance positioning, so verify the rules for your jurisdiction before adopting it as a standard sales tool.
- A payment plan can shift collection risk or add administrative steps versus a clean upfront payment.
- The "2x more deals" figure is a marketing claim on the site, not an independently verified benchmark — treat it as a target to test, not a guarantee.
A concrete decision test
Pick one recent lost job where the deductible was the stated blocker. Run it through the three-step flow — build the payment plan, present it to that homeowner, and see whether the objection actually dissolves. If it does, roll it out to your sales team; if the homeowner still balks, the problem was likely price or trust, not cash timing. The site offers a free trial, so a single-job pilot costs you little beyond setup time.
For comparison, contractors evaluating deductible-financing alternatives sometimes look at broader home-improvement financing platforms such as Acorn Finance or HomeTap, though those solve a different problem (funding the whole project rather than the deductible specifically).
Is Fund My Deductible legally compliant for collecting deductibles from homeowners?
Fund My Deductible is a payment-plan platform for collecting deductibles, not a legal compliance guarantee. The site presents itself as a tool that helps contractors stay compliant while "legally collecting deductibles," citing Steve Badger at the Win the Storm Conference, and describes a three-step process: register as a contractor, sign up customers with a custom payment plan and executed funding agreement, then receive and track income through contractor and salesman portals.
That framing matters because deductible collection is regulated at the state and insurer level, not by the platform. Some states and policies restrict contractors from paying, waiving, rebating or absorbing a homeowner's deductible; the homeowner is generally still obligated to pay it. A platform that documents a payment plan and keeps all parties informed can make the transaction more transparent, but it does not override insurance law, licensing rules or policy terms.
For a contractor considering it:
- Use it as a documentation and payment-tracking layer. The site's emphasis on an executed funding agreement and portals suggests the value is in a clear paper trail and monitoring, not in legal cover.
- Confirm compliance for your jurisdiction and the specific policy. Ask your own attorney or state insurance regulator whether third-party deductible funding is permitted where you work, and check the carrier's policy language.
- Check the customer relationship. Homeowners should understand they are still responsible for the deductible and what the payment plan obligates them to do.
A practical next step: before signing up for the free trial, have your attorney review the funding agreement template and confirm it fits your state. For general context on deductible rules, see the Insurance Information Institute at Insurance Information Institute.
How do I set up a payment plan for a customer using Fund My Deductible?
Setting up a customer payment plan on Fund My Deductible happens on the contractor side, inside the app, after your company and sales team are registered. Based on the site's own description, the customer step is: set up your custom payment plan, receive the executed funding agreement, and keep all parties informed. The plan itself is yours to define—the platform handles the agreement, the funding, and the tracking around it.
The customer-facing sequence
- Register your company and sales team first (the site lists this as step one, with a claimed five-minute setup).
- Create the custom payment plan for that customer.
- Send it for signature; once executed, you have a funding agreement rather than a financing arrangement.
- Track the resulting income through the contractor and salesman portals.
Where it fits
This is aimed at home improvement contractors—roofing especially, judging by the press mentions and conference appearances—who lose jobs when a homeowner can't cover a large insurance deductible up front. The pitch is "stop financing and start funding," with the claim of double the deals closed and a free trial to test it.
Practical check before you commit
- Confirm how your state treats deductible collection and who carries compliance responsibility; the site markets its approach as legally compliant, but the agreement terms are what govern.
- Ask whether the homeowner's payment obligation is to you or to a third party, and what happens if a payment fails mid-plan.
- Test one real customer through the free trial before rolling it out to your sales team, so you see the actual agreement language and portal workflow.
For background on the deductible-financing debate in roofing, trade coverage from Roofing Contractor and Insurance Journal is a reasonable starting point.
What fees or costs are involved in using Fund My Deductible after the free trial?
Fund My Deductible's page does not publish a fee schedule for what happens after the free trial. The only pricing signal on the page is the free trial itself, and the signup flow points contractors to register, set up a company, and add a sales team without listing ongoing charges.
For a contractor weighing this tool, the practical next step is to ask the vendor directly for a written cost breakdown before registering a full team. Specifically:
- Whether the contractor, the customer, or both pay for the funding arrangement
- Any per-deal or percentage-based charge tied to each funded deductible
- Monthly or annual platform fees for the contractor and salesman portals
- Whether the free trial converts automatically and what the cancellation terms are
- Any payment processing or setup costs
The trade-off is that a deductible-funding service can help close deals that would otherwise stall on upfront cash, but the cost structure determines whether that benefit outweighs simply collecting the deductible directly. Contractors who run high-ticket jobs with frequent deductible disputes are the clearest fit; those with low-volume or small-ticket work may find per-deal fees harder to justify. Get the numbers in writing and compare them against your average job margin before committing.
For general context on deductible funding and contractor compliance, see Fund My Deductible.
How do contractors and sales team members track income and performance in Fund My Deductible?
Contractors and sales team members track income and performance through dedicated portals inside the Fund My Deductible app. According to the site, the third step of its process — "Receive and Track Income" — gives contractors and salesmen separate portals where they can monitor income and track performance. The same page also says registration covers setting up your company and registering your sales team, which is what makes per-person tracking possible in the first place.
In practice, that means a roofing company owner can see what the business is collecting while individual salespeople see their own numbers, rather than everyone working from one shared spreadsheet. The company describes the setup as a five-minute process and says the platform is intended to help close more deals by funding deductibles instead of financing them.
What the page actually specifies
- Contractor portal and salesman portal, listed as distinct items
- "Monitor Income" and "Track Performance" as the stated functions
- Sales team members registered during company setup
- Customers set up on custom payment plans, with executed funding agreements and all parties kept informed
- Free trial offered, with no pricing details published on the page
Practical next step
If you are evaluating this for a crew, ask two questions before signing up: does each salesperson get their own login with performance visible only to them and management, and can you export income data for payroll or commission calculations? Those two answers usually decide whether a portal saves you admin time or creates a second place to reconcile.
For comparison, contractor-focused payment and financing platforms such as Acorn Finance and Service Finance approach this differently — they emphasize consumer lending rather than deductible funding — so the tracking question is really about which model fits how you collect from homeowners.
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