One of the hard lessons learned from Hurricane Katrina: Americans are dangerously lacking when it comes to homeowners insurance. As many as 64 percent of homes are underinsured by an average of 27 percent; as construction costs climb, many of us forget to update our policies. That means if the worst happens—a hurricane, a fire—you could lose everything. How do you know if you're properly covered?

Ask your agent these five questions...
Photo: Suze Orman by Marc Royce
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.


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