Huckleberry is part of a new breed of online business insurance. The founders recognized that the whole business insurance industry was antiquated, requiring paper applications and weeks to process them, as if the internet didn’t exist. Companies such as Vouch, Pie, and Embroker all had the same thought—to make buying business insurance simple, faster and entirely online by using AI.
So far, they’ve raised $18 million in series A funding, with some investments as add-ons.
They don’t have application fees, and everything can be completed in five minutes, saving startup founders valuable time.
- Pros & Cons of Huckleberry Insurance
- Products Offered: 70/100
- Financial Strength: 80/100
- Customer Satisfaction: 60/100
- Consumer Complaints: 80/100
- Digital Experience: 90/100
Pros & Cons of Huckleberry Insurance
|– Fast, easy quotes|
– No paperwork
– 100% online
|– Not available in every state|
– Mixed customer service reviews
Products Offered by Huckleberry Insurance
Huckleberry offers most basic business insurance types.
Workers Compensation insurance: Covers your employees in case they are injured or become ill on the job because of their work environment. Workers compensation pays for medical bills and lost wages. Many states require business carry workers compensation insurance if they have even one employee.
Business owner’s policy: A BOP is a bundle of different policies that usually includes both general liability, property insurance and business interruption insurance.
General liability: This protects you if someone injures themselves on your job site (not your employees, though—that’s covered by workers compensation), or you damage someone else’s property.
Business property: This covers your property—your building—if it’s damaged or destroyed. If you want to protect the goods inside the building, you’ll need business personal property insurance.
Business interruption: This protects you from losses in case your business is forced to close for a covered reason. Unfortunately, most policies don’t cover pandemics, even though many businesses were forced to close due to Covid-19.
Under “Additional Coverages” Huckleberry lists:
- Professional liability
- Hired and non-owned auto
- Liquor liability
- Employment practices liability
- Spoilage coverage
- Equipment breakdown
For the following quote, we said we were an IT business/computer repair service with $57,000 in payroll and $100,000 in revenue.
It’s important to realize this is an estimate. To get an actual quote, you’d have to enter more information. When you see an option to buy, you’ll know that’s the final price. Huckleberry says most people can get coverage in less than ten minutes.
Industries Huckleberry insures:
- Food and beverage
- Dental practices
If they don’t insure your type of business yet, they will soon.
Financial Strength Rating of Huckleberry Insurance
Although Huckleberry is a relatively new company, their policies are underwritten by Markel insurance, which has a financial strength rating of A, or excellent. This is very reassuring, because you know that Huckleberry has the financial backing it needs to pay claims.
Customer Satisfaction Rating of Huckleberry Insurance
Huckleberry is too new to appear on J.D. Power’s small commercial business insurance study, although the 2020 results should be coming out soon. We had trouble finding it on the BBB website as well.
On Trustpilot, there are 25 reviews for Huckleberry and they get 3.9 out of five stars. 68% of reviews thought they were excellent, 24% gave them one star, and 8% gave them four out of five. The positive reviews said the process was simple and easy, and a great value.
The negative reviews mention poor customer service and communication. It’s a little troubling that out of all the reviews, almost a quarter of them are negative. On the other hand, they are a new company, so perhaps they’re still working out the kinks.
Consumer Complaints Rating of Huckleberry Insurance
It’s not surprising that Huckleberry is not on the NAIC website yet. However, Markel, the company they’re backed by is on the site. Markel gets a complaint index of .75, which means they get slightly fewer complaints than you would expect.
Digital Experience Rating of Huckleberry Insurance
Huckleberry was developed entirely to make the process of buying business insurance fast, easy and entirely online. You simply enter your type of business, annual payroll, annual revenue, your email address and phone number and you’ll get an estimate. If you wish to continue, you’ll answer questions like:
- When do you want the policy to start
- How your business is set up (are you a sole proprietor, corporation, LLC, etc.
- Federal tax id number
- Confirm your business location
And you’re on your way to a quote.
What makes the process even faster is that if you’re an established business, Huckleberry can search data bases to auto-fill most of your application (they discard this information later, in case you’re worried about privacy).
You can pay for your policy online with a credit card or your bank account. You can get unlimited copies of certificates of insurance and Huckleberry will email them to whoever you choose.
The business insurance industry is finally catching up to the rest of the world by offering business insurance online by using AI. There is some competition among startup business insurance companies, so savvy shoppers should obtain multiple quotes before deciding on a policy. Huckleberry is definitely fast and efficient—a few negative customer service reviews are troubling, but probably not deal breakers. And getting a quote is really easy, so it’s worth it to get one and compare.