When you file an insurance claim for, say, a leaking roof or damaged siding, there’s usually a provision in your policy that says your carrier is obligated to pay the cost to repair or replace affected parts of your home with a “material of like kind and quality” or a “similar material.” The wording can vary from one insurance provider to another, but the idea remains the same. This is known as “matching regulations.”
There are a lot of ways to interpret matching regulations, and the specifics of how it is enforced depends on a number of different factors. This is one of the reasons most homeowners tend to misunderstand this part of their coverage more than any other provision.
When Is Damaged Covered?
Matching regulations is a tricky area in siding and roof replacement insurance claims. First, it’s important to know whether or not your damages will actually be covered. To qualify for matching coverage, the problem must be a result of “sudden and accidental” causes. This means negligence and lack of maintenance resulting in damage can be grounds for your claim to be denied.
How Insurance Claims Cover Losses
There are two ways a claim can be paid out: replacement cost values (RCV) and actual cost values (ACV). If your coverage has provisions for actual cost values, damage claims are paid based on the cost of the repairs or replacement minus depreciation. RCV coverage is preferred by many because it pays to replace your siding or roof with matching materials without factoring in depreciation costs.
Why Matching Regulations Matter
When your siding or roof repair job does not use materials that are of the same quality, it can be noticeable. This could lead to a drop in your home’s value and may even cause certain performance issues. Always double-check your coverage to see if you are protected by matching provisions.
At Tony’s Roofcare Inc., we can help get your damaged siding or roofing back to its original state. Give us a call at (253) 841-7779, or fill out our contact form to schedule a consultation and request a free estimate on siding and roofing services today.