EARTH-BORING TOOLS HAVING A GAUGE INSERT CONFIGURED FOR REDUCED BIT WALK AND METHOD OF DRILLING WITH SAME

A drill bit comprises a bit body having a longitudinal axis and a blade extending radially outward from the longitudinal axis along a face region and axially along a gauge region. A gauge region includes a cutting element located proximate to an uphole edge of the blade in the gauge region. A remainder of the gauge region is free of cutting elements mounted thereon. A method of drilling a borehole comprises rotating the bit about the longitudinal axis, engaging a formation with cutting elements mounted to the face region, and increasing a lateral force applied substantially perpendicular to the longitudinal axis such that the cutting element engages the formation and such that side cutting exhibited by the tool is initially minimal and substantially constant and subsequently increases in a substantially linear manner with increasing lateral force.