Todd Nesnick
Every company needs business insurance to protect it financially from unexpected events. Those incidents can include everything from lawsuits to property damage.
However, having insurance isn’t enough. You need coverage provided by the right insurance company. Most insurers will happily sell policies to companies of any size. But few have experience working with small businesses or understand the unique challenges those owners face.
Qualities To Look for in a Business Insurance Company
Finding the insurance provider you want to “have your back” isn’t difficult. It does require a little time and effort, but when you know what to look for, you can quickly eliminate the companies that don’t meet your requirements.
And it’s not hard to come up with the criteria to use in your assessment. In fact, they’re really just common sense.
You’ll get the best financial protection for your business if you work with a company like biBERK that has these characteristics:
- Extensive insurance industry experience. biBERK is part of Warren Buffet’s Berkshire Hathaway Insurance Group, which has provided insurance and supported customers for more than 75 years. When your business is sued or suffers a property loss, that continuity can be very reassuring. Relying on a provider that just opened its doors a few years ago may leave you a little uncertain about whether they’ll be there when you need them.
- Financial strength. You should expect many things from a small business insurance company, but the most important is the ability to pay your claims. You can be left with a significant expense if a company can’t or won’t fully address a claim. As an example of biBERK/Berkshire Hathaway Insurance Group’s commitment to its customers, the company paid $38 billion in claims in 2020. Another indicator of financial strength is that all Berkshire Hathaway Insurance Group’s major insurance subsidiaries are rated A++ by A.M. Best Company and AA+ by Standard & Poor’s Corporation.
- Affordable rates. biBERK’s business model dispenses with brokers. They work directly with you. As a result, the company can offer rates up to 20% lower than many other providers. That’s important since businesses need solid financial protection and also want to keep expenses as low as possible.
- Exceptional customer service. Berkshire Hathaway began as a small textile company that grew in part because of how it treated customers. That spirit is at the core of biBERK today. It’s easy to get instant, self-service quotes, buy policies, and report claims online. And if you have questions about the types of coverage you need or what a particular policy provides, licensed insurance experts are happy to assist you.
Insurance Coverage From a Company You Can Trust Makes All the Difference
Getting a covered claim paid promptly and fully can make all the difference if your business has been sued or suffered a loss. Knowing that a company like biBERK is ready to respond should give you, your employees, and their families tremendous confidence that your business won’t be devastated by an unexpected incident.