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Unfortunately, sometimes you end up with bad news when you realize your insurance doesnt cover natural disasters.
Of course, this is best done before any natural disaster happens because it may be too late after.
She broke down the types of homeowners insurance coverage andwhich ones you want to have after a disaster.
Focus your attention on Coverage A, or Dwelling Coverage.
Cash value only covers the depreciated value of your home and your possessions.
You definitely want to add on this key in of coverage if your original policy doesnt have it.
However, Orman warned that there is usually a dollar limit cap on replacement cost coverage.
You should review your maximum every year to ensure it is sufficient, she wrote.
Most important, always get your coverage in writing, whether taking out a new policy or adding on.
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