Bidding on your own name is relatively inexpensive. It helps secure the search result between you and your customer and also improves your Quality Score because it has such a high CTR (click-through rate). The lower your click-through rate, the lower your charge per click will be from Google. They truly reward you for this!
Do you notice how the Sea Tow appears below Flagship Towing and seems to look like it is all the same ad? Their ad was for a general listing so the phone number is not paramount.