biBerk Review: Is Berkshire Hathaway’s Small Business Insurer Worth It?

biBerk legitimacy and licensing

Yes. biBerk is a direct small business insurer that’s part of the Berkshire Hathaway Insurance Group, the insurance arm of Warren Buffett’s company. It was founded in 2015, is based in Omaha, Nebraska, and says it has sold 2 million policies. biBerk says all of Berkshire Hathaway’s major insurance subsidiaries are rated A++ by AM Best, the top financial strength rating. Your quote and policy name the specific company that issues coverage, and you can look up that company’s licenses and complaint record with your state insurance department or the NAIC’s free Consumer Insurance Search.

The BBB rates biBerk A+ and it has been accredited since 2017, with 342 complaints in three years against a large customer base.

How much biBerk insurance costs

biBerk publishes starting points: general liabilityGeneral liability. Coverage for third-party bodily injury, property damage and advertising injury claims. Compare business insurance companies from $27.50 a month, a BOP from about $500 a year with most customers paying under $2,000, professional liability from about $300 a year and umbrella at about $200 to $400 a year for the first $1 million. Workers’ comp averages $0.75 per $100 of payroll in Texas to $2.74 in Alaska. Commercial auto prices aren’t published.

Your actual premium depends on your industry, revenue or payroll, location, claims history and limits. Because biBerk sells direct, it says it can price up to 20% below insurers that pay broker commissions. Compare quotes with identical limits and deductibles.

What biBerk covers and where

biBerk sells workers’ compensation, Business Owners Policies (general liability plus business property), general liability, professional liability (errors and omissions), commercial auto and umbrella coverage. It offers some coverage in every state and DC, but each product is only sold in certain states, so check its coverage map before you start. Workers’ comp is required in most states once you have an employee, and leases and client contracts often require general liability at set limits.

Audits and surprise bills

Workers’ comp premiums are based on estimated payroll and must be audited when the term ends. biBerk may also audit general liability, professional liability and BOP policies to confirm revenue or payroll. If your real numbers were higher, you get a bill; if lower, a refund, subject to minimum premiums. Unexpected audit bills are a common complaint, so estimate payroll and revenue carefully and update biBerk if your business grows.

biBerk complaints and how to avoid them

Most Trustpilot reviews are five star and praise quick quotes and helpful staff. Negative reviews, about 13%, describe hard-to-reach support after purchase, an automated phone system, audit bills sent to collections and trouble cancelling. The BBB lists 342 complaints in three years.

• Save your quote, application and policy declarations.
• Answer audit requests on time; missing an audit can lead to an estimated bill.
• Request cancellation by phone and get the confirmation and any refund amount in writing.
• If a claim or billing dispute isn’t fixed, file a complaint with your state insurance department.

How to cancel biBerk

You must cancel by phone at 1-(844) 472-0967. The process depends on your coverage, state law, open claims and any pending audit, and some states require proof of new coverage before you can cancel workers’ comp. biBerk notes that business policies can carry minimum earned premiums or short-rate cancellation fees, so ask what you’ll get back before you cancel mid-term.

Who should look elsewhere

Construction, trucking, food service and other higher-risk businesses often do better with an independent agent who can shop several carriers. If you want a single person who knows your account, or biBerk doesn’t sell the product you need in your state, look at agent-sold carriers.