What type of insurance you need to protect your home if a natural disaster strikes

What would you do if a natural disaster struck your home tomorrow? It’s a question that many Americans are grappling with, especially after last year's staggering $115 billion in damages from natural disasters across the U.S.

Jill Schlesinger, a CBS News business analyst, sheds light on this crucial topic. Understanding the right kind of insurance for your home—whether you’re a homeowner or a renter—could be the difference between recovery and financial hardship.

Many people assume that standard homeowners insurance will cover all types of natural disasters, but that’s not always the case. For instance, flood damage often requires a separate policy, and many areas prone to earthquakes have special guidelines.

Why should this matter to you? As climate change continues to intensify weather patterns, the risk of natural disasters is rising. Being proactive with your insurance can help safeguard your home and savings.

Schlesinger emphasizes the importance of reviewing your policy regularly. Changes in your property, local laws, or even the environment can affect what coverage you need.

And what about renters? Even if you don’t own a home, having renters insurance can provide peace of mind. It can cover your personal belongings and liability, protecting you from unexpected events.

As we navigate an increasingly unpredictable world, understanding your insurance options is vital for ensuring your future.

Curious about the specifics of what coverage you might need? Read the full report at CBS News for the latest verified details.