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Thimble Business Insurance Review 2022: Flexible Coverage Based On Your Terms

Bryan Keith

Thimble provides affordable insurance policies online for small businesses with flexible terms by the year, month, day, or even by the job. In addition, business insurance can be tailored to your business.

Overall rating

4.5

Summary: Thimble provides business coverage in a few minutes and for only as long as you need it.

Thimble Business Insurance

thimble business insurance logo

$2,000,000

Coverage Up To

$0 - $10,000

Deductibles


Reviews

4

Policy Application

4

Fees & Coverage Options

4

Industries Covered

5

Claim Support

5

Customer Service

5

Safe & Secure

Pros

  • Quick online solutions
  • Coverage based on business flow
  • Affordable insurance
  • Covers drone insurance

Cons

  • Not available in New York

Best For

  • Flexible insurance
  • Per job or event insurance
  • Immediate coverage within minutes

Features

HQNew York City, New York
Annual Coverage$1 – $2 million for business (depends on policy), and $10 million for drone insurance
Deductibles$0 – $10,000 depending on coverage and type of insurance
Business RevenueLess than $4.6M for eligibility
Employee HeadcountLess than 10 employees for eligibility
Restricted StatesNot available in New York 

In depth review on Thimble

Thimble was founded in New York City as Verifly Insurance in 2016. Verifly was focused on the drone insurance market. However, in 2019 the company started offering general commercial liability insurance, which expanded the growth of Verifly to over 100 different industries, and the company rebranded as Thimble.

Thimble is best for 

  • Flexible insurance: Doing a job for only a few months, no problem. Thimble will cover individual jobs with a specific timeline or even jobs by the hour. This can be particularly beneficial for contractors. Offering coverage by the hour can be a game changer and not often seen in the insurance market.
  • Per job or event insurance: Business insurance is adaptable towards event planners, contractors, and freelancers.
  • Immediate coverage: Thimble is focused on quickicly providing coverage. Insurance can be purchased via the app or online, and the application approval will take only minutes. 

Thimble benefits

  • Online solutions: Professional Liability, General Liability, Business Equipment Protection, and Business Owners Policy allow users to receive instant coverage with a few clicks online.  
  • Business flow: Thimble recognizes the ebbs and flows of small businesses and does not ask questions when canceling or limiting policies during slow seasons.
  • Affordable insurance: Prices vary by industry, but you can expect affordability based on your business income.
  • Drone insurance: Up to $10 million in liability coverage and underwritten by Global Aerospace, Inc.  

Thimble drawbacks

  • Not available in all States: Some States carry limitations of coverage whereas New York does not have coverage currently.

Factors contributing to the overall rating

Policy application

4

You can receive a quote from Thimble reasonably quickly with just a few clicks and some quick information. The application can be done online, through the app, or by telephone. Thimble recommends using the iOS or Android app for drone insurance if purchasing in real-time.  

The quote process works as follows:

  • Zip code
  • Profession
  • Business property
  • Recommended coverages

You’ll require the following business information:

  • Business name 
  • Address
  • Revenue
  • Crew size
  • Payroll
  • Years in business
  • Past business insurance claims

Once all required information is received, an immediate quote will be sent. The business owner may choose to continue the process and pay directly online for the quote and receive coverage instantly.  

Fees and coverage options

4

These are the primary coverage options:

  • Professional Liability (Errors and Omissions): Starting at $36 a month with the flexibility to pause or cancel at any time.
  • General Liability: Starting at $17 a month with the flexibility to pause or cancel at any time.
  • Business Equipment Insurance: This can be added to a monthly General Liability policy covering $2,500 – $25,000 worth of equipment depending on your profession.
  • Business Owners Policy: Starting at $42 a month, this insurance combines general liability and commercial property insurance. A safeguard for small business owners and the day-to-day needs.
  • Drone Insurance: Coverage starts at $10 and time limits to flying of 1,4 or 8-hour sessions.  All insurance is done in real-time with the use of the app and GPS within a 2-mile radius.  Advance purchases available for up to 60 days into the future.

Thimble has listed the factors contributing to changes in cost:

  • Risk
  • Location
  • Industry
  • Years in Business
  • Crew Size

Industries covered

4

Thimble offers insurance by industry and by business type. The supported sectors are:

  • Construction and Contractors
  • Landscaping
  • Cleaning Services
  • Crafts and Makers
  • Sports and Fitness 
  • Event Professionals 
  • Photo and Video Professionals
  • Hair and Beauty 
  • Pet Services 
  • Professional Services 

Claim support

5

Thimble claim support requires the business owner to log in to their account. No timelines for the specified claim process are available. The following are required to submit a claim:  

  • Name, Email, Phone Number
  • Policy Holder name
  • Policy Number
  • Claimant name
  • Date and location of loss
  • Description of loss
  • Current location of insured items, if known
  • Additional information as necessary (photos, witnesses, police reports, etc.)

Customer service

5

Thimble customer service has received 4.7 out of 5 stars out of 640 reviews on Trust Pilot.  The service is online only with no direct customer service phone number. The main complaints are limited mediums of communication such as email and online chat. Support is 24/7 by online submission or online chat with a representative.

Safe and secure

5

Thimble carries an A+ rating, and it is credited by the BBB (Better Business Bureau). The BBB is an industry standard for certifying the legitimacy of a business.   

Is Thimble right for you?

Thimble focuses on a quick solution for small businesses.  The coverage limit of up to $2 million can benefit freelancers, event planners, and per job contractors.  The online and app-only service is beneficial for quick processing, but the major drawback is customer support with no direct phone number for help. Overall, Thimble can be affordable and is flexible to meet your business needs when you need insurance.