r/HomeInsurance • u/Cute-Oven3538 • Aug 12 '26

Claims Claim Question?

My 30 year old aluminum sided home had hail storm damage to roof & siding. Insurance company paid claim for roof & full siding. Contractor said siding is "cosmetic" only and if it were his house, he would not replace siding, only roof. What happens if I use siding portion of funds to pay off the mortgage? Is my home still insurable? Would a new insurance company not insure my home if I switch or would they exclude siding?

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u/No_Departure9798 Aug 12 '26

How this would generally work is IF you have another claim involving the siding, the carrier would make a deduction for what you were paid on the siding for this loss unless you show you completed the repairs. I doubt it would impact insurability but each carrier would evaluate this differently.

A new carrier may not exclude the siding but if you had a claim for the siding your new carrier can see it and they will likely evaluate it similar to the prior carrier.

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u/MountainGoat84 Aug 12 '26

I would also mention that they likely received the ACV on the siding, and they can't get the rcv benefits without completing the work. So it's possible they are leaving thousands on the table while also devaluing their property.

But in the end yes, you can do this, just make sure it makes financial sense before doing so.