CROGHAN | 9795A State Route 812 Croghan, NY 13327 | 315-346-6378

DEER RIVER | 3997 Deer River Road Deer River, NY 13627 | 315-493-2391

LOWVILLE | 7383 M. Utica Boulevard Lowville, NY 13367 | 315-376-2731

Built on Integrity Since 1950

What to Look for When Reviewing Insurance Policies

What to Look for When Reviewing Insurance

Sometimes surprises are a good thing. When someone plans a party for you to commemorate a birthday or special occasion. THAT is a good surprise! But no one wants the kind of surprise that leads to unplanned expenses. A car accident, significant personal injury, or severe damage to a residence and personal property are events that people pray they do not personally experience.

While circumstances like this are the very reasons people get a car, health, home, and life insurance, unfortunately, your insurance coverage can also be the source of some unpleasant surprises. The good news? By simply reviewing your insurance coverage every year, you can catch potential changes and ask the proper questions before you renew your commitment. Here are a few things to carefully review when examining your current insurance policies.

Know the Date Issued
The Balance states that knowing the date is issued of your insurance policy is absolutely crucial, especially when it comes to your life insurance. While term insurance comes with an expiration date, permanent insurance comes with what is called a surrender charge. This may apply if you cancel a policy prematurely.

Verify Who is and Should Be Covered
Review if your insurance policies apply to you alone, or if additional coverage is needed for your spouse or children.

Understand the Premium
Knowing what your insurance premium is and how frequently it is paid is something to always keep a careful eye on. Some policies require monthly payments in the form of an automatic deduction from your checking account, while others may outline that the policy is paid up front.

This is especially crucial when it comes to reviewing your health insurance; you must understand what your deductible and annual out of pocket health care costs are, and confirm if these costs do not automatically increase on an annual basis.

Examining the details of your insurance coverage on an annual basis will allow you to understand how your benefits work and what restrictions may be in place. Doing this will allow you to see if you need to correct duplicate coverage, or if you need to plump up areas where you are underinsured.

Foy Agency Insurance prides itself on providing exemplary customer services. We take every measure to ensure you are satisfied with all your insurance needs and will make sure you’re properly informed on what your coverage includes and costs. Foy Agency Insurance has been serving the Croghan, Deer River, and Lowville areas for over half a century. We are proud to be large enough to provide professionalism and reliability, yet small enough to provide personalized service. To discover more about how we can serve your needs, please visit our website
or call us atone of our three locations today.