The purpose of a property insurance policy is usually to restore the property to its “pre-loss” condition. In the event that your home or business sustains damage, the insurance company should pay to repair the damaged material with new materials.
“Matching” refers to the requirement that the new material must be a reasonable match in fit, style, and appearance with the surrounding materials on your property. For example, if a few panels of siding on your home are damaged in a storm, the policy should cover those few panels. However, if the replacement panels do not match the rest of the siding, then ideally your policy should pay to replace all of your siding to restore the property to its prior uniform appearance. The same is true for shingles, stucco siding, and other materials. Thus, the importance of matching in your insurance policy. Most policies do provide this coverage, but it is not required by law.
Unfortunately, some Minnesota insurance companies have started to exclude this coverage. This is an extremely important benefit that can have a drastic impact on your insurance claim. Not having this coverage could leave your home or business with mismatched siding, roof, or windows. If you are an individual homeowner, we recommend reviewing your homeowners policy or speaking with your agent to determine if matching is a part of your policy. For business owners and common interest communities, we understand that your insurance policies can be long complicated legal documents that are difficult to interpret. Because of this, Smith Jadin Johnson offers complimentary policy reviews to ensure you have the
Call us today for a free policy review. The best time to figure out if your policy covers material matching is before a loss occurs.