Insurance claim for vinyl siding
Since you did not mention that they actually had storm damage, I can only assume that they did not. Also, I would never agree to any manner of contract based soley on what I could get someone else to pay for. So, in my opinion, this has WRONG written all over it. But that's me. If in fact there is a legitimate claim, my recommendation would be to contact a local, reputable siding company, and get an estimate from them. And, if your locale permits, in other words if there are more than one in the area, I would get two or three estimates, and select the one that you and/or your parents are most comfortable with. Be sure to get a copy of their insurance before they begin their work. Having only heard one side of it, although it sounds very typical of such "contractors", I would exclude the "storm chaser", and move on. Simply one man's opinion.