Overview

Founded in 2016, Berxi specializes in professional and small business insurance products such as medical malpractice, dental malpractice, and errors & omissions insurance. Their mission is to simplify the process of purchasing, understanding, and affording business insurance. Their policies feature flexible insurance limits, and obtaining a quote online is quick and straightforward.

Berxi offers a streamlined online quoting process where you can obtain a quote in minutes and complete your purchase shortly thereafter. They emphasize a digital-first approach, offering convenient online account access at any time. They provide transparent and detailed information about their coverage options online, ensuring clarity for customers. Additionally, Berxi emphasizes a commitment to straightforward pricing with no hidden fees, enhancing trust and convenience for business owners seeking insurance solutions.

Another standout feature of Berxi is their “Berxi Perks” program. Through partnerships with various companies, Berxi offers deals and discounts to its customers. These perks include discounts on professional development opportunities, certifications, courses, online therapy sessions, and more. Berxi continuously updates this list with new offerings, providing added value beyond their core insurance products.

Why Brexi is a Good Choice?

Berxi is an ideal choice for business owners who prioritize security and seek a reliable insurance provider. As part of Berkshire Hathaway Specialty Insurance Company, one of the largest public companies globally, Berxi benefits from substantial financial backing and stability. Berkshire Hathaway Specialty Insurance holds an exceptional A++ financial strength rating from AM Best, reflecting its robust financial health and reliability.

Berxi offers a high-quality digital experience for managing your business insurance account, making it a compelling choice for those who prefer online accessibility. Through their user-friendly online platform, you can conveniently review account details, obtain proof of insurance, submit claims, update payment methods, and perform other administrative tasks anytime and from anywhere.

In addition to their robust online capabilities, Berxi provides excellent claims support both online and via phone. They prioritize customer satisfaction by ensuring that no claims are settled without your prior approval, maintaining transparency and responsiveness throughout the claims process.

Coverage

Berxi provides three primary types of insurance coverage: E&O (errors and omissions) insurance, medical malpractice, and dental malpractice. Whether you need individual or group coverage, these liability insurance options can protect you or your business by covering expenses if a customer or patient files a claim seeking damages.

Berxi offers both occurrence and claims-made policy options:

• Occurrence Policy: This type of policy covers incidents that occur during the policy period, regardless of when the claim is reported. Even if the policy has expired, as long as the incident occurred while the policy was active, it will be covered.
• Claims-Made Policy: With a claims-made policy, coverage is provided for incidents that both occur and are reported within the policy period. If an incident happens during the policy period but is reported after the policy expires, it may not be covered unless extended reporting or “tail” coverage is purchased.

You can also opt to add tail coverage to the end of your claims-made policy with Berxi. Tail coverage extends your insurance protection beyond the policy’s expiration, ensuring you remain covered against claims that are reported after the policy ends. Think of it as an extension of your coverage period to provide continued protection even after your main policy has concluded. This option is particularly beneficial for professionals who want to safeguard against potential claims that may arise later.

Berxi also provides policies that offer defense costs outside the limits of liability. This means that expenses incurred for your legal defense will not reduce the insurance limit available to cover potential damages or settlements. This ensures that the full policy limit remains intact for addressing claims or settlements, providing enhanced financial protection for policyholders.

Pricing

The cost of Berxi business insurance policies vary depending on several factors and will differ from customer to customer. Specifically, if your specialty, industry, or business is deemed riskier, your insurance premiums will likely be higher. This is because there is a greater likelihood of incidents occurring that could lead to lawsuits or claims against your business.

The cost of your Berxi business insurance is also influenced by your liability limits. Policies with lower limits, such as $100,000 per claim, typically cost less than those with higher limits, such as $1 million per claim. Additionally, the state or jurisdiction where you operate or work, as well as your claims history, will also impact the cost of your insurance premiums.

Here are examples of annual malpractice insurance quotes for various professions and locations through Berxi:

1. Counselor in Massachusetts (private office, 40 hours/week):

• Premium Range: $209.54 to $357.90 annually

2. Dental Hygienist in California (private practice, 40 hours/week):

• Premium Range: $101.75 to $135.57 annually

3. Yoga Instructor in New York:

• Premium Range: $122.40 to $209.06 annually

4. Optometrist in Rhode Island (40 hours/week, occurrence coverage):

• Premium Range: $375.86 to $580.26 annually

Policy costs for Berxi can vary significantly, ranging from under $100 to well over $1,000 per year depending on several factors such as profession, location, coverage type, and liability limits. For an accurate estimate tailored to your specific needs, I recommend obtaining a quote directly on the Berxi website. This will provide you with a precise cost based on the details you provide during the quoting process.

How to Apply?

To start the application process, select the type of insurance you need—whether it’s for an individual or a group. Next, indicate the desired start date for your coverage and specify the state where you operate. Lastly, choose your profession to proceed with the quote.

Depending on your industry or specialty, you may encounter additional questions regarding the nature of your work or specific procedures performed as part of your job. The form will also inquire whether you have been involved in any previous malpractice claims. After completing these details, click on “Get My Quote” to proceed.

On the following page, you’ll view the pricing and specifics of your coverage. You can conveniently cycle through various insurance limit options to select the one that best suits your needs. Once you’re satisfied with your choice, you can proceed to purchase your policy.

The entire process typically takes just a few minutes, and you can often begin your coverage on the same day you purchase it. In certain instances, the company may need to reach out to you for a few additional questions.

Customer Support

Berxi offers customer support via phone toll-free at 833-242-3794. Support is available from 8am to 8pm (ET), Monday through Friday, excluding holidays. Outside of these hours, or if you prefer not to call, you can reach out with any questions via email at support@berxi.com. This ensures that you can access assistance conveniently according to your preference and schedule.

The Berxi website provides a comprehensive FAQs section that addresses various questions related to its policies and coverage options, managing your account, general insurance inquiries, and more. Additionally, their blog offers valuable articles and guides covering topics such as risk management and career growth, aimed at providing additional insights and resources to their customers.

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Bottom line

Berxi provides comprehensive professional and small business insurance tailored for dental, healthcare, and various other industries. Their services include 24/7 online access to your account, allowing convenient management of policies and claims. Getting a quote takes just minutes, and Berxi offers flexible insurance limits that can be customized to suit your specific needs.

Despite being a relatively new player in the insurance industry, Berxi boasts impressive financial strength ratings. This ensures that customers can rely on the company’s stability and trustworthiness when choosing insurance coverage.