Thimble Insurance Review

Thimble provides flexible and affordable insurance coverage options to a wide range of small businesses. You can buy instant, on-demand, long-term, and short-term business insurance policies by the hour, day, week, or month at as little as $5.

Key Takeaways:

• On-demand insurance policies on an hourly, daily, weekly, and monthly basis.
• Over 120 small businesses can benefit from their insurance policies.
• Small businesses can cancel, modify or extend their insurance policies.
• Purchase insurance policies online in minutes.

Pros & Cons

Here are a few pros and cons of Thimble Insurance.

Over the years, traditional insurance companies have failed to cater to the unique insurance needs of small businesses and self-employed individuals.

Contractors, freelancers, and gig workers might not require a full year of coverage. With Thimble, these individuals can access episodic, on-demand insurance coverage on an hourly, daily, weekly or monthly basis.

These policy terms allow them to pay for what suits their needs.  Are you wondering whether Thimble insurance policies can cover your small business?

This Thimble Insurance review explores Thimble’s insurance products and the small businesses that benefit from their policies.

About Thimble Insurance

Thimble is a commercial insurance company that offers episodic, on-demand insurance coverage to small businesses and self-employed individuals.

The company was established in 2016 in New York City.  Thimble was initially established as Verifly and provided liability insurance coverage to drone operators.

As it continued growing, its customers requested more insurance coverage options. The company expanded its services to offer insurance coverage to small business owners.

Today, Thimble offers several insurance options to over 120 small businesses. In 2019, the company raised nearly $22 million in funding to launch general liability insurance.

Customers in all 50 states can now access the following types of insurance from Thimble:

• Small business insurance
• General liability insurance
• Professional liability insurance
• Event liability insurance
• Commercial property insurance
• Business owners policy
• Inland marine insurance
• Worker’s compensation insurance
• Drone insurance

Markel Insurance Company underwrites Thimble’s general liability policies. Markel is a Fortune 500 company whose financial strength earned it an A rating from AM Best.

Global Aerospace and several other reputable insurance companies underwrite Thimble’s drone policies.

Policies

In this section of Thimble Insurance review, I’ll take you through the company’s insurance products.

Small Business Insurance

Small business insurance includes policies suitable for your business and protects you from risks and liabilities. With varying policies of insurance, your business is safe from the unexpected.

General Liability Insurance

General liability insurance helps protect most types of businesses against accidents or property damage to a third party. General liability insurance from Thimble will protect your business against bodily injury, property damage, and personal and advertising injury to a third party.

Professional Liability Insurance

Professional liability insurance (errors & omission insurance) protects you in case of mistakes or failure to provide professional services, leading to financial loss.

It covers false or frivolous claims of damage, actual or alleged negligence, and defense of claims.

Event Liability Insurance

Event liability insurance protects you against the risks of organizing or participating in a special event. This insurance from Thimble covers third-party property damage, bodily injury, and expenses or damages related to alcohol consumption.

Commercial Property Insurance

If you’re on the hunt for a policy to cover your business’ property and not a third party, Thimble’s commercial property insurance is your best bet.

It will cover your business’ property against loss, accidental damage, and vandalism.  This insurance covers commercial properties such as office spaces, retail spaces, hotels, and interior and exterior assets.

Business Owners Policy

Thimble’s Business Owner’s Policy (BOP) is a combination of two policies, general liability, and commercial property insurance. Thimble understands that small businesses face risks likely to affect their ROIs negatively.

The two insurance policies safeguard businesses from risks when dealing with third parties and damage or loss of business property.

Worker’s Compensation Insurance

Worker’s compensation insurance protects your business if you or your employee is injured or gets ill at work. The insurance covers the cost of:

• Permanent or temporary disability
• Medical expenses
• Lost wages
• Rehabilitation and retraining

Drone Insurance

Drone insurance is on-demand liability coverage for drone operators. Customers can download the company’s Verifly app on their android or iPhones.

After downloading the app, provide information about where you’re planning a flight and purchase coverage that suits your situation.

Thimble allows you to purchase drone insurance coverage for one hour, two hours, or eight hours. This insurance will protect you if your drone flight causes injury or property damage.

You also get protection against unintentional privacy invasion or flyways.

Who is Thimble Insurance Best For?

Thimble insurance is best for small businesses looking for instant, flexible commercial insurance policies. The company is best for seasonal business owners, self-employed individuals, handymen, landscapers, contractors, and freelancers.

In this Thimble Insurance review, I have outlined some of the small businesses and professions that may benefit from Thimble’s cover. They include:

• Electrical work
• Carpentry
• Flooring
• Masonry
• Crafters and makers
• Actors
• Musicians
• Wedding planners
• DJs
• Tour guides
• Fitness and professional trainers
• Graphic designers
• IT consultants
• Web designers
• Writers
• Hair and beauty
• Janitors and cleaners
• Pet sitters
• Photographers and videographers

As long as your business is small, Thimble will be your best fit. The company understands that small businesses, contractors, and freelancers may not require full-year coverage.

Thimble saves these businesses and self-employed individuals from shelling out money with traditional insurance companies.  If you don’t know which insurance coverage best suits your business, Thimble will recommend what is ideal for you.

You can purchase a long-term or short-term policy with flexible insurance policies in a few minutes. Additionally, Thimble will allow you to extend or cancel your coverage without a hassle.

Thimble Alternatives

Should I Apply for Thimble Insurance?

Thimble insurance is your go-to insurer if you’re looking for on-demand, flexible and affordable insurance coverage policies. The nine policy options explored in this Thimble review give you an idea of what the company offers.

As a small business owner or self-employed looking for an insurance policy that best suits you, Thimble has got you covered. You can purchase Thimble’s small business insurance that encompasses all their policies.

This insurance will protect your business from unforeseeable risks that can negatively affect your business’ ROI. Would you like to learn more about Thimble insurance?

Visit their website and read through their policies to gain an in-depth understanding. Alternatively, reach out to their customer service to get answers to all your questions.

FAQ's

Below are answers to common questions about Thimble.