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Bruce Sackrison's Insurance Matters: Will my insurance company always have my back?
Insurance Matters

Bruce Sackrison's Insurance Matters: Will my insurance company always have my back?

From the Bruce Sackrison's Insurance Matters series
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Bruce Sackrison

Bruce Sackrison is a Napa Valley Register columnist who will write about property and casualty insurance matters.

We buy insurance policies to protect our families and businesses in case tragedy hits.

Will those policies really ensure that we won’t face financial ruin when we are hit with unexpected trials?

How can you know that the company you put your trust in won’t fail you when the going gets rough?

Unfortunately, there are times when families and businesses have been let down, losing not only the money they invested in for insurance, but also losing their homes and businesses.

Though nothing is certain in life, there are ways to research the financial stability of your insurance company.

Here are some examples:

Barney spent his entire life in a small California town. He lived alone, enjoying the slow pace of retired life.

Barney had the same insurance company that the majority of that small town used. Sadly, there was a raging wildfire that consumed the entire mountain town.

Everyone experienced some type of loss, be it their home, school, or business. The destruction proved to be too much for that insurance company, causing it to go bankrupt.

Barney, along with most of the town, lost his home to that fire and was unable to be reimbursed for his losses. Losing his home was a terrible feeling, but not having anything to show for after years of investment in his insurance company was heartbreaking.

Bernice lived in the same town as Barney.

She had done her research before purchasing a homeowners policy. Her nephew, Wally, an agent from out East, had shown Aunt Bernice how to check the financial stability of an insurance company before buying any policies.

He used two different credit rating websites, easily accessed from her laptop. Standard and Poor’s has been in business for over 150 years, as well as Moody’s, another reputable rating service.

Wally was able to help Bernice find an insurance company with high scores, which showed its financial integrity. When the wildfire hit, Bernice lost her home but was able to rebuild in a nearby city.

Though she missed her original home, so full of memories, Bernice was thankful that she was able to start over again without having to worry about her money situation, thanks to her choice of insurance.

You, too, can research your options before buying any policies.

If you look into Standard and Poor’s or Moody’s, you will be able to find the score of the insurance company you are considering.

By finding a company rated highly on these two websites, you can be sure it is financially sound, thus a good choice for you.

When you buy a policy, it should take a weight off your shoulders, not be another risk to worry about.

If you have any questions about choosing the right company, or how to find a company’s risk evaluation, please give me a call. I am always happy to discuss insurance-related topics.

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Bruce Sackrison is an insurance property and casualty broker affiliated with Professional Insurance Associates. He is at 707-931-0186 or

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