Everything You Need To Know

According to its website, Berkshire Hathaway GUARD Insurance Companies began offering casualty accounts and commercial property insurance in 1983. Today, the company also writes policies for umbrella, homeowner’s, disability, professional liability, commercial auto, commercial umbrella, business owners, and workers’ compensation. If you have a commercial driver’s license, learn more about obtaining Berkshire Hathaway Auto Insurance through GEICO or GUARD independent insurance agents nationwide.

Company History

Berkshire Hathaway dates back to the Valley Falls Company, a textile manufacturer founded in 1839 in Rhode Island by Oliver Chace. The firm merged with the Berkshire Cotton Manufacturing Company of Massachusetts in 1929, naming the new company Berkshire Fine Spinning Associates.

Insurance Business America reports that a 1955 merger with the Hathaway Manufacturing Company gave the firm its modern name, but it wasn’t until 1967 that majority stockholder Warren Buffett expanded to insurance when he bought National Indemnity Company. In the following decade, the firm bought equity in GEICO which it still holds today.

Finance guru Warren Buffett runs Berkshire Hathaway and the company’s more than 60 subsidiaries out of Omaha. Buffett reportedly bought his first stock market shares at the age of 11 and had to file income taxes on his earnings by the age of 13, with a variety of businesses from newspaper delivery to door-to-door sales. At 15, he bought 40 acres of land in Nebraska, then used the profit from farming the land to pay for a bachelor’s degree from the University of Nebraska and a master’s degree in economics from Columbia University.

After graduate school, Buffett spent the 50s selling securities and investments, then purchased Berkshire Hathaway in 1964 as part of his plan to make a million dollars by age 35.

In addition to GEICO, the firm also holds the Kraft Heinz food conglomerate and Duracell batteries. As one of the world’s five largest publicly traded corporations, Berkshire Hathaway has a market cap exceeding $488 billion. It’s also one of the most expensive companies in which to invest, with share prices reaching $215,000 each. Buffett ranks with Bill Gates among the world’s most wealthy individuals.

Berkshire Hathaway Auto Insurance through GEICO

As the most famous subsidiary of Berkshire Hathaway, GEICO is also the company’s primary provider of auto insurance as well as general liability, professional liability, homeowner’s, and other types of policies. GEICO currently has the second-largest car insurance market share in the United States, according to Insurance Business America, with more than 16 million policies covering at least 27 million vehicles.

You can also get an auto policy directly through Berkshire Hathaway if you drive a vehicle available for rent, an ambulance, an escort vehicle, or a limousine.

Both GEICO and Berkshire Hathaway have high customer ratings and rank well for financial strength from AM Best. GEICO also beat most of its competitors in customer satisfaction ratings from J.D. Power and Associates.

Insurance Subsidiaries of Berkshire Hathaway

In addition to GEICO, Berkshire Hathaway offers insurance policies through several other subsidiaries. Berkshire Hathaway Specialty Insurance, available in about 170 nations, offers policies for:

  • Homeowner’s insurance
  • Health insurance
  • Accident insurance
  • Medical stop-loss coverage
  • Travel insurance
  • Surety bonds
  • Professional and executive insurance coverage
  • Medical malpractice insurance
  • Casualty insurance
  • Commercial property coverage

    The Better Business Bureau has given the Berkshire Hathaway Specialty Insurance firm an A rating based on the fact that the company receives few customer complaints.

    The company also operates Applied Underwriters, which writes workers’ compensation policies for small-to-midsize businesses. This subsidiary boasts a customer retention rate of more than 90 percent and has a history dating to the early 1990s.

    Founded in 1954, the Gateway Underwriters Agency specializes in underwriting policies for the auto (personal and commercial), professional, and commercial insurance industries. As a wholesaler, they enter into brokerage agreements with various insurance partners.

    GenRe is a life and health reinsurance company with more than 40 worldwide offices. This subsidiary reports a $6 billion premium value and $14 billion capital value.

    Berkshire Hathaway healthcare liability insurance is available through MedPro Group, in operation since 1899. The company has more than 200,000 clients and earns $1 billion in annual premiums, with a history dating to 1899. MedPro Group provides policies for health care facilities, dentists, surgeons, physicians, and other healthcare providers.

    Another insurance subsidiary of Berkshire Hathaway is the National Indemnity Company, which has its own group of subsidiaries that includes Columbia Insurance Company, National Indemnity Company of Mid-America, National Indemnity Company of the South, National Fire & Marine Insurance Company, National Liability & Fire Insurance Company, and National Indemnity Company. These firms offer policies through general agents.

    Finally, small businesses can get customized insurance from the United States Liability Insurance Group, which constitutes U.S. Underwriters Insurance Company, Mount Vernon Fire, and U.S. Liability Insurance Company. These subsidiaries serve all 50 U.S. states and Washington, D.C.

    Help with Berkshire Hathaway Auto Insurance

    You can get a quote for Berkshire Hathaway auto insurance by calling an agent directly or visiting the company’s website. According to autoinsurance.org, if you already have insurance from this firm and need to file a claim, you can either do so online or by calling the toll-free claims number.

    If you have a claim with GEICO, you can file it online or on the customer service app. You can also request a live phone conversation with an auto insurance agent.

    With this guide, you’re prepared to purchase or get help with your Berkshire Hathaway auto insurance policy, whether you buy through the company itself, GEICO, or another subsidiary.


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