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If you think you are covered for disaster you should probably double check. There are some common misconceptions on everything from auto to life insurance. Join Better to find out more about what every woman can do today to make sure they are covered.

Transcript

Audra Lowe: If you think of family’s cover from disaster, you probably should double check. There are some common misconceptions on everything from auto to life insurance. Now Rhiannon has more on what every woman should do today to make sure your family's cover. Gerard O'Sullivan: The insurance is a form of gambling. You're purchasing the insurance in case something happen, and if you don't buy your insurance you are really gambled. Rhiannon: Gerard O'Sullivan knows more about insurance than you would ever want to. Gerard O'Sullivan: Insurance is a very complicated subject and most people don't want to spend a lot of time researching it but the time upfront saves you a lot down the road. Rhiannon: But it's time to get to know your insurance plans, from your home to your life. Spill coffee may not be your biggest issue today, every step you take could lead you to financial disaster. Gerard O'Sullivan: You want to make sure that you understand your health insurance policy. A lot of people think, oh, I have the policy, I am okay, I am all set. Understanding your policy is the most important thing that you can do. Rhiannon: Gerard points to recent flooding in Atlanta, after a two year regional drought, flooding just wasn't a concern for most residence. Now many homeowners are forced to show out big bucks to fix the mess. Gerard O'Sullivan: People don't realize that until they have a flood, that a regular insurance, homeowners insurance policy doesn't cover flood. Rhiannon: And that goes for other life disasters, even if you are confident in your coverage, he says, a good rule of thumb is to review all your policies at least once a year. Gerard O'Sullivan: You should review your insurance information on yearly basis at a minimum, but anytime you have a major life change, you need to sit down and determine how is this going to affect my insurance needs. Rhiannon: He says life insurance is one of the most neglected but immortality is never a safe bet. Gerard O'Sullivan: They really need to understand what -- their life is worth to those that they'll live behind. Rhiannon: Another good rule is to make sure you are not paying for something that you don't really need. Gerard O'Sullivan: People for years and years they'll get insurance on a car and they'll have collision coverage on the car and after 10-12 years, they are still paying for collision coverage and the car isn't worth that much. Rhiannon: So downgrading the liability insurance on that car maybe a smart move, and consider disability insurance whether you are 25 or 50, we've all got bills to pay. Gerard O'Sullivan: You injure yourself severely so that you can’t work. Who is going to pay your bills, where is that money going to come from? Rhiannon: Gerard says shop around. Policies these days can be tailor-made to fit your family’s needs and they don't have to break the bank. Gerard O'Sullivan: You brought it 10-years-ago and you shopped around, you did the best job that you possibly could have and you believe that you still have the lowest price. It changes so rapidly. Rhiannon: But be careful which company's hands you put your family’s future in. Gerard O'Sullivan: There are a lot of people out there who are selling insurance that is not real. Rhiannon: Check with your State Insurance Department and make sure our company is licensed or if you have any complaints, there is a link to each state at bettertv.com. Your home, health, car, of life are not things to gamble with. For Better I am Rhiannon.