Our Corporate Mailing Address:
2003 NW Northdale Blvd - Coon Rapids, MN 55433
Call: 763-754-1824 -Fax: 763-862-9367

The Top Insurance Myths



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

Commercial Insurance Myths

Having two agents is better 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.

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.

Oakwood Insurance Agency operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access to a wide range of carriers, and our extensive knowledge of the insurance marketplace.  

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