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Berkshire Hathaway GUARD is now offering its commercial package product in New Jersey.
The package was first introduced in Pennsylvania; so, this move makes New Jersey the second state where the offering is available.
The commercial insurance package includes commercial property insurance with limits of up to $120 million per location, with an enhanced causes of loss form that has built-in equipment breakdown, inland marine, and crime coverages. A release added that the package also includes general liability coverage with base limits of $1 million to $6 million, with higher limits considered. Employment-related practices liability insurance and commercial umbrella rounds out the rest of the package.
“Our goal is to become a ‘One Stop Shop’ for our agents and their insureds. We continue to expand our portfolio to supply our network of independent agents with quality products that enable them to grow,” said Berkshire Hathaway GUARD president and CEO Sy Foguel.
“GUARD’s coverages are unique, including our built-in inland marine protection for commercial property that sets us apart from our competitors in the market,” added Berkshire Hathaway GUARD executive vice-president Lyle Hitt, who also noted that the company can also enhance its base coverages with a variety of add-ons and industry-specific endorsements.
“Our package product is designed to address the insurance needs of larger, more complex operations or businesses with multiple exposures,” explained Berkshire Hathaway GUARD vice-president of commercial package Ellen Hauser.
Hauser remarked that the package’s initial target markets include light-to-medium manufacturing, wholesalers and distributors, truck stops/travel plazas, resort hotels, and country clubs/golf courses; and there are plans to expand into additional markets.
