Recent flood and tornado raise insurance questions

If your home floods or is blown away by a tornado, are you covered?

Wall Street Group’s Kelly Ogletree says those are questions you should be asking now.

“Is your building written on a replacement cost or an actual cash value? Because there’s a really big difference when it comes down to claim kind. ”

She says the difference between a policy that includes replacement costs and one that doesn’t could mean not being able to rebuild your home or business.

Ogletree adds, while flood insurance is a separate federally managed policy, most private plans do include some kind of water damage coverage.