Your home’s roof is arguably the least glamorous part of your home. While it’s certainly done its job of protecting you and your family from the elements, it probably hasn’t been a topic at your last few dinner parties.

But when your roof needs repair, that all changes. Suddenly, repairs are at the top of your mind — and possibly at the top of your budget. Roofs can cost thousands to replace, so you’ll want to make sure you have a plan for paying for the expense before it arrives, like opting for online loans in Canada. To help you, here are a couple of ideas to pay for your roof repairs:

1. Consider Financing

When you’re financing something, you’re essentially borrowing money that must be paid back with interest over time. Similar to any other loan, roof financing is a borrowing option that may make sense for some homeowners.

Those who need a new roof but don’t have the cash on hand may find financing an attractive option, especially if they’re eligible for an attractive interest rate. Financing can also be useful in cases where homeowners don’t have enough savings to pay for their roof outright but do want to avoid putting the expense on a credit card, which typically comes with higher interest rates and less flexible repayment terms.

2. Put it on Your Homeowner’s Insurance Policy

If your roof is damaged by severe weather or a fire, then putting the repairs on your homeowner’s insurance will allow you to get the roof fixed right away and pay for it over time, with interest. The downside is that if your roof is old, then you might be stuck paying a higher policy premium each month because of the new expense. Also, if your roof suffers a problem that isn’t covered by insurance, then you’re left with no option but to pay the bill out of pocket.

3. Use a Credit Card

If you have good credit and you know that you’ll be able to pay off the balance of your card within six months or less, then using a credit card can be a good option. The key here is making sure that you have enough credit available on your card to cover the costs of the repair and not letting interest accumulate over time (use a calculator like this one from Bankrate). It’s also important to note that some contractors offer some discounts or specials if they can be paid using a credit card.

4. Home Equity Loan

With interest rates currently near historic lows, now is a great time to consider a home equity loan for your roofing needs. Interest rates on home equity loans are still very low, even lower than many credit cards, and the interest paid on many home equity loans may be tax-deductible, too. If you’re unsure if your current home equity loan is among the best available or if your credit situation has been less than stellar lately, compare home equity loan offers from multiple lenders to find the best deal out there.

5. Roof Company Financing

The roofing company might offer financing options that would help you avoid paying the full amount upfront. This could be in the form of a loan or a credit card. Be aware that these types of financing are usually more expensive than other options because they charge higher interest rates and fees (in some cases, more than 20%). If you’re looking to finance your roof replacement with this option, it’s best to shop around to find the best deal available.