How beneficial auto insurance is for you depends on the insurance provider you choose. Established companies like Berkshire Hathaway Inc.’s subsidiaries can give you peace of mind when the unexpected happens. But what exactly is Berkshire Hathaway? Here is a brief look at its history, market cap, and claims number if you want to lodge an auto claim in Texas.
Brief History of Berkshire Hathaway Inc.
Although this company’s presence in the insurance industry for over 50 years may seem like a long time, the company has been around for almost two centuries. It all began in 1839 when Oliver Chance established Valley Falls Company, a successful textile manufacturing company in Valley Falls, Rhode Island.
After a successful run for 90 years, the Valley Falls Company did merge with the Berkshire Cotton Manufacturing Company in 1929. This merger that happened in Adams, Massachusetts, gave birth to Berkshire Fine Spinning Association.
The second merger in 1955 between Berkshire Fine Spinning Association and Hathaway Manufacturing resulted in Berkshire Hathaway’s formation, which still specialized in the textile industry. The company was enjoying some relative stability which attracted many investors.
One of the investors who saw great potential in this company was Warren Buffet. He decided to start buying stocks in this promising textile company. By 1964, he had become the majority owner earning the ability to steer the company to a more rewarding future given his great entrepreneurial spirit.
Entry into the Insurance Industry
Warren Buffet realized that the company’s textile business was failing slowly. The best way out was to branch into an industry that was ripe, and insurance was the best option. In 1967, the company purchased the National Indemnity Company, which marked their entry into the insurance industry.
The company further cemented its presence in the insurance industry by buying an equity stake in GEICO in the late 1970s. GEICO now forms the core of Berkshire Hathaway’s insurance operations in the US currently.
Other insurance subsidiaries include:
- Berkshire Hathaway GUARD Insurance Company
- Applied Underwriters
- Berkshire Hathaway Specialty Insurance
- Gateway Underwriters Agency
- General RE
- MedPro Group
- United States Liability Insurance Group
By March 2021, the market cap of this multinational conglomerate holding company is $578. 9 billion. Its market value has been consistently growing over the years. For instance, the market cap in 2017 was close to $488 billion.
The company is among the five largest publicly traded companies worldwide. Its size not only makes it promising for investors but also makes its insurance subsidiaries more reliable for those insured.
Claims Number for Texas Auto Claims
If you got involved in an auto accident in Texas and are insured by one of the subsidiaries of Berkshire Hathaway Inc., here is what to do. Call 800-841-3000 if you are covered by GEICO. In case you have taken your auto insurance from GUARD, call 1-888-639 to report a claim. These and other insurance subsidiaries under the company have professionals to help you through the entire process 24/7.
However, we understand that being involved in an auto accident in Texas can be devastating. You may want to focus on your health and wellbeing first. That’s we are here to help you file the auto claim at no out-of-pocket expenses. We can offer you legal representation from an experienced car accident attorney that you need to get the compensation you deserve from this insurance company.
Berkshire Hathaway’s long, relatable history and market value make it one of the most trusted insurance providers currently. When you get into an accident and are covered by one of their subsidiaries, ensure you lodge a claim in a timely manner as required by law. You can call the claims number to report your claim or let us do it for you as you focus on your recovery. We have law offices in three cities in Texas so you don’t have to worry if you can find a car accident lawyer near me.