Three Insurance: 2023 Review, Cost, Coverage & Competitors

Three Insurance
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If you run an esthetician business and are looking for a comprehensive policy for your staff, you may discover that the Three Policy meets your needs while also being affordable. In addition, the company’s financial stability is well regarded. However, estheticians who wish to tailor their policy with additional endorsements, as well as sole proprietors and smaller firms with fewer coverage needs, may find cheaper insurance elsewhere. This article will further discuss the full Three Berkshire Hathaway insurance reviews, their competitors, and payment costs.

What is Three Insurance? Overview

Three is Berkshire Hathaway’s all-inclusive line of insurance products. Options for several types of insurance, including general liability, commercial property, commercial auto, cybersecurity, workers’ compensation, and more, will be assessed.

Businesses can get the comprehensive security they need by pooling risks of different kinds. It also protects against the potential for a loss of business income as a result of an insured event, such as a fire or a natural disaster.

This comprehensive analysis of Three Insurance is the best tool for determining the type and extent of protection your business needs. Three by Berkshire Hathaway is a reliable brand that has given American business owners a sense of security for decades.

What Does Three Insurance Cover?

There is only one commercial coverage plan that Three offers. You may check out a preview on Three’s site.

The following are some of the coverages provided by the policy:

  • Business property insurance includes coverage for theft, damage to property your business owns or rents, and business interruption insurance.
  • General liability insurance plus liquor liability coverage
  • Professional liability insurance.
  • Directors and officers insurance
  • Commercial auto insurance
  • Cybersecurity insurance includes data and system review and recovery services, data breach notification services, and credit monitoring.
  • Workers’ compensation insurance in compliance with state requirements

The policyholder has the option of establishing coverage limits and deductibles for each coverage type. The cost of your policy should reflect the fact that you do not require coverage for things like vehicles, lease space, or staff, if that is the case.

Furthermore, Three’s coverage is extensive. Many policies for businesses have what are called “exclusions,” or categories of losses that are not covered. Since Three’s policy doesn’t explicitly identify any typical exclusions, it seems reasonable to assume that these incidents are covered. For instance, flood damage is typically not covered by business property insurance; Three’s policy does not.

However, the Three Coverage Policy does have some limitations that are common to other commercial insurance plans. For instance, maintenance issues that lead to gradual property decline are not compensated for.

How Are Three Different From Other Business Insurance Policies?

When it comes to commercial insurance, most companies have the option to “bundle” different policies into one. That’s because they want to make a profit by selling you multiple policies at once, often at a discount.

Three claims that its comprehensive policy fills in the coverage gaps left by purchasing insurance in bundles. Whereas most insurers would have business owners purchase a separate directors and officers policy, Three’s policy includes coverage for claims against directors and officers of a corporation.

It is possible to unwittingly purchase multiple coverage plans from an internet insurer company like Next Insurance. That’s because, after you submit your quote information, an algorithm will determine the best coverage options for you. When you tell Next that your company uses vehicles, for instance, it should recommend commercial auto insurance.

NerdWallet suggests shopping around for coverage rates to find the best deal. In that manner, you can easily notice the similarities and differences between the two policies.

Pros and Cons of a Single Policy

Without a doubt, Three’s all-encompassing policy is unique. When it comes to insurance, Berkshire Hathaway offers something that has never been seen before. Let’s weigh the benefits and drawbacks before you make a final decision because no other company provides anything even somewhat similar.


The primary advantage of a three-insurance contract is its ease of use. It’s all summed up neatly in three pages, with none of the technical language that could put off budding business owners.

Secondly, if you only have one policy, you’ll have one insurer to deal with if you ever have to file a claim or pay a bill.

Finally, it lets you check and make sure you have coverage that doesn’t leave any gaps or overlaps, both of which can be expensive in their own ways (leaving you personally liable for bills or driving up your premium, respectively).


The inability to personalize would be a drawback. The organization is frequently asked what would happen if a client needs more coverage than was provided for in the contract.

The insurance is tailored to meet the needs of firms facing “typical” risks; if you believe your company has unique hazards, you may want to look elsewhere. Fortunately, you can make plans to meet with a small business expert who will assess your current options and, fingers crossed, find coverage gaps that a THREE assurance can fill.

Look no further than Three by Berkshire Hathaway for a straightforward and complete insurance plan for your small business. It’s no surprise that business owners all over the United States put their faith in THREE thanks to the advantages it offers: a streamlined and straightforward policy, a single monthly fee, and a single point of contact for claims.

Speak with one of their small business specialists to assuage your fears of impersonal service. Get a THREE policy from Berkshire Hathaway and stop worrying about the future of your company.

Should You Choose Three for Business Insurance?

Your business may benefit from one of these three insurance policies if:

  • You prefer things to be straightforward. It is the goal of Three to fulfill the insurance needs of multiple small company owners with a single policy. To receive comparable coverage from another insurance company, you’d probably need to buy and manage a few other policies.
  • Dealing with people over the phone doesn’t bother you. In most cases, you will need to contact an agent at Three by phone in order to make changes to your policy, add an additional insured, or get a certificate of insurance. Filing claims and checking on their status will both require phone calls.
  • You are seeking a reputable company to partner with. Berkshire Hathaway’s National Indemnity Company provides coverage for the Big Three.
  • You have been found to be insurable. You’ll need to look elsewhere for a service provider if you either live in a region that Three does not now serve or work in a field that is not supported.

Three Small Business Insurance Policy Costs

Companies that have been overpaying for subpar business insurance will find that switching to Three Insurance is a great decision. By bundling all of your insurance needs for your business into one affordable policy, we can save you up to 20% on your premiums. Guarantee your firm is protected from all possible threats with commercial property insurance and income protection.

Furthermore, additional insureds may be added to the insurance plan at no additional cost for organizations of a larger size. Get fast, precise, personalized quotations with exceptional savings potential after telling us about your vehicles, premises, payroll, and normal operations. Ensure that your company is well protected and that costs are kept to a minimum. If you’re not already using Three Insurance by Berkshire Hathaway, you should start right away.

How Are Three Different From a Business Owner’s Policy (BOP)?

With the rise of small businesses in the 1970s came a demand for a new type of coverage policy, the Business Owner’s Policy (BOP). You can anticipate having at least some of your company’s property and liability insured, even though the specifics of what a BOP covers will vary from insurer to insurer.

In order to get the protection they need, businesses often purchase multiple policies in addition to a BOP. This can lead to coverage gaps and unnecessary expenses, so it’s important to read the fine print. Typical business owner policies (BOPs) do not cover things like legal responsibility, vehicle or employee compensation, flood protection, or computer security.

Three is made to give comprehensive coverage adapted to the specific requirements of contemporary enterprises in a single policy, decreasing the possibility of coverage gaps or overlaps and saving money on administrative costs.

Can You Cancel Three Phone Insurance?

Cancellation policies for phone insurance can vary depending on the insurance provider and the terms of the policy. In general, most insurance companies allow policyholders to cancel their phone insurance, including Three, but there might be certain conditions and procedures to follow. Typically, you can cancel the insurance by contacting the insurance company’s customer service department. It’s important to review the terms and conditions of the insurance policy to understand any specific cancellation requirements, such as providing written notice or a specific timeframe for cancellation.

When cancelling phone coverage, it’s advisable to gather all relevant policy information, including the policy number and details of the coverage. Be prepared to explain your reason for cancellation, whether it’s due to upgrading your phone, switching to a different policy provider, or simply not needing the coverage anymore.

Additionally, some insurance providers may offer a cooling-off period shortly after the policy is purchased, during which you can cancel the insurance and receive a full refund of the premium paid. It’s crucial to act within this timeframe if you wish to cancel the policy without incurring any charges.

To cancel your phone insurance, contact Three Customer Service via phone, email, or their online portal, and follow their specific cancellation procedures as outlined in the policy documents. Always keep a record of your communication and any confirmation of the cancellation for your reference.

Three Insurance Complaint Index

Berkshire Hathaway Direct Insurance Company, which backs the Three policy, has had a higher-than-anticipated number of complaints filed against it with the National Association of Insurance Commissioners (NAIC) over the past three years, compared to its proportion of the insurance market. The quantity of consumer complaints received by each insurance company is used to calculate an annual complaint index that is reported by the NAIC. 

If the index is 1.00, then the number of complaints is about average for a company of that size. The average complaint index for Berkshire Hathaway Direct over the past three years has been 1.22, indicating somewhat more complaints than expected.

Third-Party Ratings

AM Best, an impartial body that assesses the financial health of insurance businesses, had nothing but glowing things to say about Berkshire Hathaway. In fact, after researching and comparing several top-rated esthetician insurance providers, we have determined that Three Insurance is the most financially stable option. According to AM Best, Berkshire Hathaway has an A++ (superior) rating for its financial strength.

 AM Insurers’ ability to fulfil their contractual obligation to compensate their policyholders for covered losses is reflected in their A.M. Best rating.

Three Insurance Competitors

When it comes to commercial insurance, no one can compare to Three. In general, it’s a good idea to shop around for insurance whenever possible, but it’s especially crucial to do so whenever you’re considering a new type of policy.

Take a look at these other three insurance competitors:

#1. biBERK

biBERK Insurance is a web-based insurance provider for enterprises of all sizes. They offer protection solutions, including umbrella coverage and worker compensation, to guarantee that small businesses have enough access to options and comply with state requirements.

They too were founded in 2015 and are related to Warren Buffett’s Berkshire Hathaway Insurance Group. 

The following are some of the key distinctions between biBERK and THREE.

THREE has already chosen these and will only omit those that the client does not require, whereas biBERK provides additional customization options for their coverage, allowing clients to personalize their coverage to better meet their needs.

Moreover, unlike THREE, biBERK enables policyholders to submit and review claims electronically. Related Post: BIBERK BUSINESS INSURANCE REVIEW

#2. Simply Business

Simply Business is a major insurance provider in the UK, having locations in both Boston and London, and is also a strong competitor to Three. Insurance policies like professional indemnity, employer’s liability, tenant default, and rent guarantee are just some of the ways they help out small business owners, professionals, and landlords.

They offer a wide range of coverage choices and work with other organizations to extend their reach to many parts of the world. 

Simply Business provides its customers with the ability to evaluate and manage multiple policies in a centralized online location. Simply Business may be preferable if you prefer coverage flexibility or if you are a landlord.

Three Business, in contrast, offers an all-inclusive service and phone claim submission. If you prefer speedy insurance with the opportunity to call an advisor to address your pressing inquiries, Berkshire Hathaway’s THREE insurance may be a suitable fit.

#3. InsuranceBee 

InsuranceBee was founded in 2010 and is an online provider of several products for freelance professionals. These include general liability, professional liability or errors and omissions insurance, business owners’ policies (BOP), cyber liability, workers’ compensation, directors’ and officers’ liability, and management liability. 

The primary distinction between InsuranceBee and THREE is that the former caters to independent contractors and consultants, while the latter targets small businesses like shops with many locations.

Is Three Unlimited Really Unlimited?

Yes, their unlimited plans are the best around because there is actually no limit to the amount of data you can consume. When you use our unlimited data plan in the United Kingdom, you won’t have to worry about being throttled or hitting any sort of data limit. With an unlimited data SIM or one of our unlimited data phone plans, the sky is the limit.

Bottom Line

Businesses that provide customers with either online-only insurance or a hybrid of online and offline coverage are changing the face of the insurance industry today. The Three Business Owner’s Policy (BOP) from Berkshire Hathaway makes purchasing insurance painless by consolidating a variety of coverage options into a single, manageable policy that is only three pages long and uses plain language. Our earnest wish is that this review manual served you better than any of the other reviews of Three’s Insurance you found on the web.

Frequently Asked Questions

How can a THREE Small Business Advisor help me?

The Small Business Advisors at THREE are insurance experts who can assist business owners with questions and insurance quotes. Their agents are here to assist you with all of your claims, changes, certificates of insurance, and payment needs.

Is three good for insurance?

Although THREE just launched in the year 2019, the company’s parent, Berkshire Hathaway, has been around since 1967. The National Indemnity Company also backs its insurance contract.

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