Insurance Gurus LLC

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Most of us know by now that property insurance is changing rapidly. With the increasing occurrence of severe weather, the days of insurance paying for "everything" is vanishing. Not only have rates increased, but how much is covered by insurance has decreased. An example is in the latest AAA home policy for Iowa. Insurance now pays only for the storm damaged portion of your roof or siding.

It will no longer pay for the existing undamaged material that is mismatched due to: "a. color differences due to fading, oxidation, rust, corrosion or weathering; or b. obsolescence, unavailability or discontinuation of existing materials."

The fading and weathering exclusion isn't new, but "discontinuation of materials" is new and it can be a big coverage gap for homeowners with outdated shingles or siding.

Some might ask, but doesn't Iowa have a "line of sight law" that requires insurance to replace all that is necessary to result in a reasonably uniform appearance within the same line of sight? Yes, however the code also states this applies when "not otherwise excluded in the policy."

The bottom line is you may have to live with mismatched materials or pay to replace the undamaged portion yourself after the next storm.