What is the main purpose of Sola’s coverage for deductibles?

The main purpose of Sola’s coverage for deductibles is to prevent personal loans for repairs. This type of coverage is designed to assist policyholders by providing financial support for the deductible amount owed after an insurance claim is filed. When individuals face unexpected damage or loss, the out-of-pocket expense represented by the deductible can be burdensome. By covering this cost, Sola helps to alleviate the financial pressure that could lead policyholders to seek personal loans or other high-interest financing options to cover these expenses. This support encourages policyholders to file claims and facilitates necessary repairs without the added stress of immediate financial strain.

The other options do not accurately reflect the purpose of the deductible coverage. For instance, reducing repair quality would contradict the purpose of maintaining and restoring property value, while limiting policies to select homes is not connected to deductible coverage but rather to underwriting criteria. Providing temporary rental coverage addresses different needs related to living arrangements in the event of loss and is not the same as helping with deductible costs.