homeowners insurance question

[Jason A.]

I had several buildings damaged by a recent hail storm. Luckily my homeowners insurance is willing to pay for new roofs, gutters, fascia, and to my surprise siding! My question is this: since my existing siding is, in my opinion, perfectly fine and intact, am I required to use the siding proceeds on installing new siding?? Or can I use the procedes to fund other improvements or even invest in other properties??? Any insight to this would be greatly appreciated.

PS I love hail!