- Our expert take
- Berkshire Hathaway commercial auto insurance at a glance
- How much does Berkshire Hathaway commercial auto insurance cost?
- How does Berkshire Hathaway determine commercial auto insurance rates?
- Does Berkshire Hathaway offer any commercial auto discounts for business owners?
- What does Berkshire Hathaway commercial auto insurance cover?
- What is included in Berkshire Hathaway'scommercial auto insurance?
- Does Berkshire Hathaway offer optional or industry-specific coverage options?
- What types of vehicles does Berkshire Hathaway insure?
- How does Berkshire Hathaway compare to competitors?
- Compare commercial auto insurance companies
- How can I buy Berkshire Hathaway commercial vehicle insurance?
- FAQs: Berkshire Hathaway commercial auto insurance guide
Our expert take
Berkshire Hathaway has a lengthy list of commercial auto coverage options and add-ons through its subsidiaries, and several offer online tools and quotes. The company has a stellar financial stability rating, which is important when choosing an insurer since it reflects the company's ability to pay out claims. However, coverage options, functionality and pricing vary by the subsidiary issuing the policy.
- Stellar financial stability rating
- Broad coverage options
- Online quotes not available from all subsidiaries
- Coverage and options vary by subsidiary
Berkshire Hathaway commercial auto insurance at a glance
| Review Category | Details |
|---|---|
| AM Best rating | A++ |
| NAIC Complaint Index | 3.5 |
| Available in | Varies depending on subsidiary. BHCC is in 36 states and biBERK in 20 |
| Best for | Small business owners who looking for an insurer with strong financial backing |
| Not ideal for | Small business owners with highly specialized coverage needs |
How much does Berkshire Hathaway commercial auto insurance cost?
Berkshire Hathaway doesn’t publish average costs for commercial auto insurance, making it difficult to compare to other companies’ premiums. According to Insureon, a small-business broker, the average commercial auto cost is $147 per month, or $1,762 per year.
To find out how much Berkshire Hathaway's commercial auto insurance would cost for your business, request a personalized quote. Checking prices from Berkshire Hathaway and other insurance companies will help you determine who offers the most affordable commercial auto insurance for your specific business situation.
How does Berkshire Hathaway determine commercial auto insurance rates?
Berkshire Hathaway determines your commercial car insurance rates after assessing your business’s risk profile. Main factors that influence cost include:
- Number, type and age of vehicles
- Vehicle use
- Driving history
- Claims history
- Industry
- Location
- Coverage types, limits and deductibles
Does Berkshire Hathaway offer any commercial auto discounts for business owners?
Yes, Berkshire Hathaway offers a range of discounts that may lower your commercial auto premium.
Berkshire Hathaway doesn’t advertise any commercial auto insurance discounts on its website. However, some of its subsidiaries might offer ways to reduce your premium. Here are some ways to potentially save money on your commercial auto insurance policy:
Bundling discount: Many insurers provide a discount for bundling commercial auto insurance with another policy, like general liability insurance or commercial property insurance.
Paid-in-full discount: You can sometimes earn a small discount by paying your annual premium in full at the start of the policy period.
Good driver discount: If your employees have clean driving records with no recent accidents or violations, Berkshire Hathaway might give you a discount on your commercial auto insurance premium.
Talk to a Berkshire Hathaway agent about what discounts you may be eligible for.
What does Berkshire Hathaway commercial auto insurance cover?
What is covered by Berkshire Hathaway's commercial auto insurance policy depends on what coverage you pick to be a part of it. The most basic policy will include liability insurance and, if your state requires it, uninsured/underinsured motorist, personal injury protection (PIP), or medical payments (MedPay). A full coverage policy will also include collision and comprehensive, so your vehicle has protection.
Here’s a look at what a robust full coverage policy would have included, and what optional coverage could still be added to it with Berkshire Hathaway.
| Coverage type | Good to know |
|---|---|
| Bodily injury liability | Required by states. Covers injuries you cause to others; required everywhere; limits vary by state. |
| Property damage liability | Required by states. Covers property damage you cause to others' property; usually optional. |
| Collision | Optional. If you have a lease or loan on a vehicle, the lender may mandate you have it. Covers damage or loss from business-use accidents. |
| Comprehensive | Optional. If you have a lease or loan on a vehicle, the lender may mandate you have it. Covers damage or loss from weather, theft, fire and more. |
| UM/UIM | Requirements vary by state. Covers damage or loss from accidents caused by uninsured and underinsured drivers. |
| PIP or MedPay | Availability and requirements vary by state. Covers medical expenses and related costs for you and your passengers after an accident, regardless of fault. |
| Hired and non-owned auto | Optional. Coverage for rented or employee-owned vehicles used for business. |
| Roadside assistance | Optional. Covers towing, battery jumps, flat tires and lockouts. |
| Rental reimbursement | Optional. Covers rental vehicle while business vehicle is out of service for an approved claim. |
| Trailer/cargo | Requirements vary by state. Covers trailers and cargo you use for business, but don’t own. |
| Any auto | Availability varies by state. Covers both hired and nonowned vehicles, such as an employee’s personal car used for business. |
What is included in Berkshire Hathaway'scommercial auto insurance?
Standard coverages offered through Berkshire Hathaway's commercial auto insurance may include:
- Liability: Pays for injuries to others and damage to other cars or property when you or your driver is at fault for an auto accident. Limits can be split, such as $25,000 per person, $50,000 per accident for bodily injury and $25,000 per accident for property damage. A combined commercial auto insurance liability limit is typically used for medium- or large-sized vehicles that require higher limits, such as $300,000 for all bodily injuries and property damage.
- Uninsured/underinsured motorist (UM/UIM): Pay for injuries associated with an accident where the at-fault driver either has no insurance or lacks enough coverage to pay for your losses entirely. Depending on the state, it may include uninsured motorist property damage (UMPD), which pays for damage to your vehicle.
- Personal injury protection (PIP): Pays for accident-related medical expenses for you or your passengers, as well as lost wages and services such as childcare that you’re unable to do because of injuries.
- Medical payments (MedPay): Pays for injuries your driver and passengers incur in an auto accident, up to your policy limits.
- Collision: Pays to repair or replace your vehicle if it hits another object, overturns, rolls or is in a collision with another car, regardless of fault. Collision insurance comes with a deductible.
- Comprehensive: Pays to repair or replace the vehicle if it’s damaged by certain events listed on your policy, such as theft, vandalism, fire, or severe weather. Comprehensive insurance comes with a deductible.
Does Berkshire Hathaway offer optional or industry-specific coverage options?
Optional commercial auto insurance coverage types offered by Berkshire Hathaway include:
- Towing and roadside assistance: Covers towing, flat tires, lockouts and battery.
- Hired auto: Extend coverage to employee-owned or rented vehicles when used for business purposes.
- Non-owned autos: Extends liability coverage to employee-owned vehicles used for business reasons.
- Rental reimbursement: Pays for a rental car while your business vehicle is in the shop for claim-related repairs.
What types of vehicles does Berkshire Hathaway insure?
Commercial auto insurance with Berkshire Hathaway protects a broad range of vehicles, including:
- Business autos: Such as cars, light trucks, SUVs and vans
- Trucks: Berkshire Hathaway covers a variety of trucks, from box trucks to tow trucks and food trucks
- Trailers: This includes Pickup truck utility trailers, dump trailers and dry freight trailers
How does Berkshire Hathaway compare to competitors?
Berkshire Hathaway is the fifth-largest commercial auto insurance company by market share, controlling about 3.7% of the market, according to the National Association of Insurance Commissioners (NAIC). It also has superior financial strength ratings. But, its complaint level is higher than many competitors.
Use Insurance.com’s commercial auto comparison tool to gain more insight into how Berkshire Hathaway compares with top competitors.
How can I buy Berkshire Hathaway commercial vehicle insurance?
To purchase a commercial car insurance policy from Berkshire Hathaway, you’ll need to choose which subsidiary is right for your industry and coverage needs. Once you select the right subsidiary, you can call the company directly. Here’s a list of the companies that underwrite commercial auto insurance for Berkshire Hathaway, and how you can get a quote:
Berkshire Hathaway Homestate Companies: Call (800) 488-2930
Guard Insurance Companies: Call (800) 673-2465
Three: Online quote or call (800) 507-4495
biBerk: Online quote or call (844) 472-0967
You should have these items handy when buying a Berkshire Hathaway policy:
- Names, license numbers and driving record information (tickets or accidents) for all the workers who will operate business vehicles
- Business vehicle details, including make, model, year and VIN
- Your business location and intended use of each vehicle
- Estimated annual mileage for each vehicle
- Desired coverage types, policy limits and deductible amounts
Expert tips: How can I save money on Berkshire Hathaway commercial auto insurance? Commercial auto coverage is essential for small business owners. To save on commercial auto insurance, consider these strategies:
- Compare rates. Insurers — including Berkshire Hathaway — assess risk differently. Request quotes from at least three companies to ensure you’re paying a competitive price for the coverage and limits your business needs.
- Bundle policies. If you already carry BOP or other commercial coverage with Berkshire Hathaway, ask about bundling your auto policy to unlock savings.
- Check for discounts. Check with Berkshire Hathaway agents about available discounts or savings programs you may be eligible for.
- Review your coverage choices. Reevaluate your Berkshire Hathaway policy each year. Review your limits, deductibles and optional add-ons to confirm they align with your actual risks. If it fits your situation, raising your deductible often lowers costs.
FAQs: Berkshire Hathaway commercial auto insurance guide
How do I file a commercial auto claim with Berkshire Hathaway?
To file a claim with Berkshire Hathaway, use the online portal or the toll-free number for your subsidiary.
Can I bundle my commercial auto insurance with other policies from Berkshire Hathaway?
Berkshire Hathaway policyholders can bundle commercial auto insurance with other Berkshire Hathaway business insurance, like a business owner's policy (BOP) or general liability. Berkshire Hathaway doesn’t promote bundling discounts, but some subsidiaries might offer savings if you purchase two or more policies.
Does Berkshire Hathaway offer fleet insurance?
Yes, Berkshire Hathaway offers not only fleet insurance, but has available fleet monitoring that has real-time tracking abilities to determine a driver behavior score to protect companies that have multiple vehicles. Talk to an agent to learn more about Berkshire Hathaway's commercial auto fleet program.
