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Coverage options | Medical malpractice, dental malpractice, and errors & omissions (E&O) insurance |
Can file claims online | Yes |
Pricing | $100 - $1,000+ (Depends on location, liability limits, and type of business) |
Suitable for | Dental professionals, nurses, nursing students, therapists, real estate agents, personal trainers, marketing, consultants, financial services, insurance, and more |
Online experience | User-friendly, end-to-end online experience with the ability to manage your account and make claims online |
Founded in 2016, Berxi provides professional and small business insurance products including medical malpractice, dental malpractice, and errors & omissions insurance. The company seeks to make business insurance easier to buy, understand, and afford.
Berxi lets you get a quote online in minutes, and you can buy a policy in minutes. The company provides detailed information about its coverage online, and there are no hidden fees to worry about.
Another great feature of the company is Berxi Perks. Berxi has partnered with several companies to provide deals and discounts. There are discounts on professional development, certifications, courses, online therapy, and more. Berxi regularly updates the list with new offerings.
I think Berxi is suitable for business owners who value security and want to work with a trustworthy and reputable provider. Part of Berkshire Hathaway Specialty Insurance Company, one of the largest public companies on the planet, Berxi has an A++ financial strength rating from AM Best.
If you like to access and manage your business insurance account online, Berxi’s quality digital experience makes it worth considering. You can review your account details, get proof of insurance, submit claims, update your payment method, and more within your online account—anywhere and anytime.
Berxi also provides great claims support online or over the phone and will never settle claims without your prior approval.
Berxi offers three main types of insurance coverage: medical malpractice, dental malpractice, and E&O insurance. You can get individual or group coverage. These types of liability insurance can cover your expenses in case a customer or patient makes a claim against you/your business and is seeking damages. You can get individual or group coverage.
The company provides both occurrence and claims-made policy options. Occurrence covers incidents that happen within the lifetime of the policy, even if you report the claim once the policy has expired. A claims-made policy will only cover incidents that both happen and are reported within the lifetime of the policy.
I like that you can also add tail coverage to the end of your claims-made policy. With tail coverage, you will remain insured against filed claims for a period after your policy ends. Think of it as an extension of your coverage to keep you protected.
Berxi also offers some policies that will provide legal defense outside the limits of liability. This means that money spent on your defense will not be deducted from your insurance limit, so you still have the full amount to pay for potential damages or settlements.
The application process begins by getting a quote online. First, you’ll need to choose the type of insurance you’re looking for, and whether it’s for an individual or group. Next, you’ll need to provide the date you want your coverage to start and the state you work in. Then, select your profession.
Depending on your industry/specialty, there may be some additional questions about the kind of work and/or procedures you do as a part of your job. The form will also ask if you’ve been subject to a malpractice claim before. Then, click “Get My Quote”.
On the next page, you’ll see the price and details of your coverage. I like how you can cycle through the different insurance limit options and choose the one that works for you. Once you’re satisfied, you can buy your policy.
The overall process can take as little as a few minutes, and you can often start your coverage the same day you make a purchase. In some cases, the company may need to contact you to ask a few additional questions.
The price you pay for Berxi business insurance depends on a couple of factors and will vary from customer to customer.
First of all, if your specialty, industry, or business is riskier, your insurance costs will be higher, as there’s a greater chance of something going wrong and leading to you being sued.
Your liability limits will also dictate your price. If your policy has a $100,000 limit per claim, it will be cheaper than one with a $1 million limit per claim. The state or jurisdiction you operate or work in will also influence cost, as will your claims history.
Here’s a look at a few quotes for malpractice insurance in different situations:
A dental hygienist in California that graduated in 2015 and works 40 hours a week at a private practice will pay between $101.75 and $135.57 annually, depending on liability limits.
A yoga instructor working in New York will pay between $122.40 and $209.06 annually.
A counselor in Massachusetts who works 40 hours a week in a private office will pay between $209.54 and $357.90 annually.
An optometrist in Rhode Island who works 40 hours a week, graduated more than five years ago, and has elected for occurrence coverage, will pay between $375.86 and $580.26 annually.
Policies will cost anywhere from under $100 for a year to well over $1,000 a year in some circumstances. To get an idea of your exact cost, I recommend getting a quote on the Berxi website.
Berxi’s website uses SSL encryption, and the company uses electronic, procedural, and physical safeguards to protect all personal information. Once the information is no longer needed, Berxi will dispose of it.
The company's privacy policy goes into detail about what type of information it collects, how and why it collects it, and who it shares it with. Berxi does not sell any personal information to marketing companies.
I’m impressed with Berxi’s high financial strength ratings of A++ from AM Best, and AA+ from Standard & Poor's. These ratings are an evaluation of how well an insurance company is doing financially, and a high rating is a good indication the company will be able to pay claims without any issues.
Customer support from Berxi is available over the phone toll-free at 833-242-3794. Operating hours are 8am-8pm (ET), Monday-Friday (except on holidays). Outside these hours, or if you prefer not to call, you can send any questions you have via email at support@berxi.com.
The Berxi website has a comprehensive FAQs section that answers many questions about its policies/coverage, managing your account, insurance in general, and more. There’s also a blog that features helpful articles and guides about topics like risk management and career growth.
Berxi offers comprehensive professional and small business insurance for dental, healthcare, and various other industries, with 24/7 online access to your account. You can get a quote in minutes, and there are flexible insurance limits to help you customize your coverage. Despite being a relatively new entry into the insurance industry, the company also has impressive financial strength ratings.
100 Federal St, 7th Floor, Boston, MA 02110
I created this review using information from the Berxi website, and its privacy policy.
