Vaught Wright & Bond
P.O. Box 1328
533 Main Street
Placerville, California 95667
Phone: 530-622-1835
Toll-Free: 800-652-0168
Email Us
CA Lic. #00448556
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Policy Services

What’s Wrong With Insurance?

There are many insurance myths floating around, and most of them have been around for years.  We want to respond to some of these myths with clear information, so that you can make educated decisions about your insurance purchases.

Commercial Insurance Myths

“Having two agents is better than one, because they keep each other competitive.”

Having two agents duplicates effort and can create coverage gaps and/or duplications.  For example, there is certain coverage that can be included under a liability policy as well as under an auto policy.  If you have two agents, who coordinates coverage? One agent is better able to manage your entire insurance program.

“I am covered under workers’ compensation; therefore I do not need medical insurance.”

Workers’ compensation only covers on-the-job injuries.  It does not cover off-duty accidents, illness, or other things like cancer.

“Umbrella insurance is for only large firms.”

Every business should consider an umbrella policy. Claims can come from employees, clients, and other third parties.  Defense costs range from $250 to $750 per hour on more complicated claims.

“My claim was an act of God; therefore my deductible does not apply.”

All losses are subject to your policy terms including the stated deductible.

“Earthquakes are covered under my commercial insurance.”

Earthquakes and floods are specifically excluded under commercial insurance unless you have added it.

“I can’t control my commercial insurance costs.”

There are a number of actions you can take to control your insurance costs:

  • Increase your deductible
  • Follow all loss control recommendations
  • Only report larger claims
  • Develop a safety program

 

We believe our greatest asset is the relationships we build with our clients and we are dedicated to being the right choice for all of your insurance and financial needs. We take pride in our ability to tailor a comprehensive insurance package that maximizes your insurance protection while minimizing money out of your pocket.

We maintain relationships with underwriters who are specialists in the commercial property insurance arena, and we consistently monitor the marketplace for new and innovative underwriters. We will evaluate your specific business needs and make personalized recommendations for your business.

At Vaught Wright & Bond our Commercial Lines specialists not only tailor a policy to fit your business’ needs, but also work diligently with you to avoid unnecessary costs and exposures.