Matching Provision Policies Can Limit Your Coverage
With the cold weather setting in, you may find yourself sitting through a hail or wind winter storm. If your home was damaged from the storm, you may assume that the damage will be covered by your homeowners’ insurance policy. However, many insurance companies have switched to a matching provision, which may limit the amount that they will repair after a storm.
With a matching provision, your insurance company will only pay for the part of your home that is damaged. This means that if your roof was only partially damaged during a storm, your insurance company will not pay for a whole new roof, but will only pay to repair the part that was damaged.
This new policy also works the same way if the siding of your house was damaged – they will only cover the cost to repair the damaged area. Even if the material that your siding is made out of is no longer available, your insurance company will not pay to replace the whole side. They will repair the damaged area with a material that is similar to the rest of your home.
Even if your homeowners’ insurance policy includes a matching provision, you will still have to pay your full deductible for any repairs that are made to your home. One claim due to a hail or windstorm could end up costing you thousands of extra dollars since the damages will not be fully covered.
For more information on your homeowners’ insurance policy, or how a matching provision policy works, contact the insurance professionals at Kurt Rolf Insurance Agency in Hopkins, Minnesota. We will work with you to ensure that you have the most comprehensive coverage so that you can be confident that you will be covered from any situation.
