A drill bit for removing subterranean formation material in a borehole comprises a bit body comprising a longitudinal axis, a plurality of blades extending radially outward from the longitudinal axis along a face region of the bit body and extending axially along a gauge region of the bit body, and an insert coupled to at least one blade in the gauge region. The insert comprises an elongated body having an upper surface, a lower surface, and a longitudinal axis extending centrally therethrough and intersecting the upper and lower surfaces. The upper surface comprises a bearing surface for supporting for the drill bit and providing a surface on which the subterranean formation being drilled rubs against the insert without exceeding the compressive strength of the selected formation. The insert is coupled to the blade such that the upper surface thereof extends radially beyond an outer surface of the blade and the lower surface thereof extends radially below the outer surface of the blade.