Property damage accounts for 98.1% of yearly homeowners' insurance policy claims. A common claim in this category is exterior damage to the siding and soffit. This leaves many homeowners wondering if this is covered under their policy. Read this article and learn what is and is not covered under your homeowners' insurance policy.
Does Insurance Cover Siding and Soffit Damage?
The short answer is yes, your homeowners' insurance should cover the repair of both your siding and soffit. The only catch is that the originating claim needs to be a qualifying claim.
What's Covered
When you make a qualifying claim to your insurance company, you will receive approval for the replacement of the damaged siding and soffit. This can be as large or as small of an area as needed to repair all of the damaged material.
What's Not Covered
A common problem that homeowners run into is that the insurance company won't pay for the replacement of undamaged siding or for the matching of the original siding. This can be a problem when only a portion of your home is damaged.
Your policy also won't cover normal wear and tear to your home. So if your soffit or siding starts rotting, this isn't covered.
The Mismatch Dilemma
Let's say that a windstorm or other covered event blows the siding off two sides of your home. You've owned your home for ten years. Now, when you try to have your siding replaced, you find out that the manufacturer no longer makes your siding or soffit.
At this point, you have two options. You can either pay out of pocket to replace the undamaged siding and soffit. Or you can only replace the damaged parts with something different.
One option requires a large unplanned out of pocket expense, and the other leaves you with a mismatched house.
Why Mismatched Siding Is a Problem
Your house will look strange with each exterior wall a different color. Having matched siding all of the way around your home just looks more appealing.
It will also help you retain your home's value. This will be important should you ever decide to sell. Your neighbors will also appreciate you maintaining the attractiveness of the neighborhood and their home values.
Matched Siding Insurance Coverage
Check your insurance policy for matched siding coverage. If you don't have it, ask your insurance company about adding it to your policy. It isn't that much more a year, and this additional rider can save you thousands.
If you need to replace your siding, this coverage will reimburse you up to a certain amount for the cost of replacing the undamaged siding.
Review Your Siding Panel Insurance Policy Terms
As you can see, the details of your insurance policy are what matter when you make a claim to replace your siding and soffit. While the damaged parts will get replaced, you could end up paying out of pocket to replace the undamaged areas.
You can prevent yourself from getting caught in this soffit insurance language trap. Review your policy today and prepare in advance.
For additional reading, learn how to prepare your soffit for installation.
