Thimble Insurance Review

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Thimble Insurance

 Thimble Insurance

Our Take 

Thimble provides affordable general and professional liability insurance for small businesses, freelancers, and gig workers with flexible monthly, weekly, daily, and even hourly terms. 

  • Pros & Cons
  • Key Takeaways
  • Specifications
Pros & Cons
Pros
  • Flexible policy terms with monthly, weekly, daily, or even hourly coverage

  • Extend, cancel, or modify policies right from your phone

  • Pause policies for 30 days

  • Get quotes in less than a minute

  • Over 100 types of small businesses insured

  • Certificate of insurance available instantly

  • A-rated insurers underwrite all policies

  • 24/7 claims support

  • Policies start at $5 an hour with no deductible and $1 million in coverage

Cons
  • Not available in every state

  • Doesn’t offer business interruption insurance

  • Doesn’t offer commercial property insurance

Key Takeaways
  • Thimble is a new business insurance company (founded in 2016).
  • All of the company’s policies are underwritten by A-rated insurers.
  • The company offers monthly and on-demand general, professional, and drone liability insurance.
  • Thimble offers no phone support, but almost everything can be done on its app.
  • The company is rated A+ by the BBB.
  • Thimble has an excellent 4.8-star rating with Trustpilot.
  • Pricing starts at $5 for three hours of coverage.
Specifications
  • Year Founded 2016
  • Average Cost Starting at $5
  • Types of Insurance Policies Available General liability insurance, professional liability insurance, drone liability insurance
  • Industries Served Events and entertainers, photographers and videographers, janitors and cleaners, hair and beauty professionals, pet sitters, freelancers and consultants, contractors and handymen, landscapers, fitness and personal trainers, drone pilots
  • Official Website https://www.thimble.com/

Thimble offers general, professional, and drone liability insurance for small businesses, self-employed individuals, and just about anyone in between. Though a relative newcomer to the business insurance marketplace, Thimble differentiates itself from its competitors by offering policies with flexible terms. 

Instead of locking you into a yearly contract, the company lets you buy a policy for as long as you need, whether it’s a month, a day, or even an hour. You can also extend, modify, or cancel your policy right from the Thimble app. We cover Thimble’s innovative short-term policy and quick-apply model, review the type of coverage offered, and even dig into its pricing and competitors.

Company Overview: On-Demand Liability Insurance Backed by A-Rated Insurers 

Thimble is a business insurance company located in New York City. Originally founded as Verifly in 2016, the company initially provided liability insurance to drone operators. Today, Thimble offers on-demand insurance for over 100 small business professions, including handymen, DJs, pet sitters, beauticians, and more. 

Thimble’s general liability policies are underwritten by Markel Insurance Company, a Fortune 500 company with an A rating from AM Best for financial strength. The company’s drone policies are underwritten by Global Aerospace and backed by a pool of secure and respected insurance companies. Thimble is accredited with the Better Business Bureau and enjoys an A+ rating with the organization under its previous name, Verifly.

In 2019, Thimble raised $22 million in a funding round led by IAC/InterActiveCorp (IAC). IAC is the parent company of the Dotdash family of websites, which includes TheBalanceSMB.

Policies Available: Affordable Plans and Flexible Terms

Thimble offers three types of basic business insurance and is in the process of offering two additional types: business equipment protection and event insurance. Getting started is easy. Just enter your profession, zip code, and the dates you need coverage, and Thimble will generate a quote for you in less than a minute. Once you make your first payment, your certificate of insurance is available instantly.     

Our Expert Michael Says

Due to its focus on flexible policy terms, Thimble is priced lower than most other providers in the small business insurance space.

General Liability Insurance

Thimble’s general liability insurance protects your business against the risk of accidents like bodily injury and property damage to a third party, including:

  • Bodily Injury: Claims of physical injury to a third party.
  • Property Damage: Damages to another entity’s property.
  • Medical Expenses: If a customer’s injury requires a hospital visit.
  • Defense Costs: If settling a claim lands you in court.
  • Personal + Advertising Injury: Claims that you publicized something damaging the reputation of another person or business.

Thimble’s general liability policies do not cover the following:

  • Damage to your property or equipment
  • Known claims prior to the start of your policy

Also excluded are damage or injury because of:

  • Professional services
  • Disclosure of personally identifiable information
  • Employee injury
  • Workers’ compensation
  • Vehicles and boats
  • Work you did before your policy began
  • Intent to injure

Thimble does not offer general liability insurance in the states of Washington, Kentucky, and New York.

Professional Liability

Thimble’s professional liability insurance, also called errors and omissions (E&O) insurance or professional indemnity insurance, covers mistakes in your work that result in a financial loss for your customers and can lead to the following claims:

  • Actual or Alleged Negligence: You (or members of your crew) were negligent in completing your work.
  • Legal Defense Costs: Legal costs for claims that you didn’t follow through on a portion of your deliverable.
  • Claims and Damages: Settlements arising from legal action.

Thimble’s professional liability policies do not cover claims for damages because of:

  • Bodily injury
  • Property damage
  • Fraudulent acts
  • Employment matters
  • Workers’ compensation
  • False advertising
  • Patents and trade secrets
  • Disclosure of personally identifiable information

Professions excluded from professional liability insurance include:

  • Health care professionals
  • Pharmacists
  • Educators and teachers
  • Lawyers
  • Stockbrokers
  • Financial advisors
  • Architects and engineers
  • Insurance & real estate agents
  • Actuaries

Thimble does not offer professional liability insurance in the states of Washington, Colorado, Illinois, New York, Massachusetts, and Rhode Island.

Drone Insurance

Thimble offers on-demand liability insurance for drone operators through its Verifly iPhone and Android app. Just enter the location where you plan to fly and use a drone that meets your policy’s weight limit. Thimble offers one-, four-, and eight-hour policies and $10 million in liability coverage underwritten by Global Aerospace, Inc.

Optional Add-Ons: Add Additional Insureds and 100 Crew Members 

Business owners and crew members (including employees or temp workers) are covered by Thimble’s liability policies. Additional insureds can be added to a liability policy and typically include clients, customers, or students who are doing business with you. Your policy extends coverage to these individuals if a claim or lawsuit is brought against them for an incident resulting from your negligence.

Customer Service: Easy Online Application and Mobile App

Thimble makes it easy for you to extend, modify, pause, or cancel your policy through its mobile app. You can also access your certificate of insurance, add additional insureds and coverage for up to 100 crew members, and pay using Apple Pay.    

Our Expert Michael Says

Thimble makes it easy for you to extend, modify, pause, or cancel your policy through its mobile app.

Thimble only offers email-based support from 9:00 a.m. to 6:00 p.m. EST Monday through Friday and typically responds to inquiries within one hour during these times. Thimble also offers a well-organized FAQ section that can help you find answers to most questions without contacting support. 

Customer Satisfaction: A New Company With Happy Customers

Thimble (under its old name, Verifly) has a 5-star rating with the BBB. It’s important to note, though, that this is only based on two reviews. Additionally, the company has an excellent 4.8-star rating with Trustpilot based on 263 reviews. Finally, Thimble’s app has a 4.8-star rating in the Apple Store and a 4.3-star rating in Google Play, indicating that users are generally very pleased with the app’s functionality and accessibility. 

Cost: On-Demand Pricing Blows the Competition Away

Due to its focus on flexible policy terms, Thimble is priced lower than most other providers in the small business insurance space. Pricing is only available by requesting a specific quote, but here are some examples the company provides:

  •  Dog walker: $5 for three hours
  • Sanitation business: $63.97 for one month
  • Video producer: $21.71 for three days
  • Dance instructor: $52.92 for one month
  • Painter: $14.85 for one day  

Competition: Thimble vs. Next Insurance—Faster and More Affordable

One of Thimble’s closest competitors is Next Insurance. Launched only one year earlier in 2015, Next Insurance offers a similar quick approval process for small businesses looking for basic liability insurance. Like Thimble, Next Insurance is accredited with the BBB and enjoys an A+ rating with the organization.   

In addition to general and professional liability insurance, Next Insurance also offers commercial auto, workers' compensation, and tool and equipment insurance. The company’s policies are backed by Munich R.E., rated A+ by AM Best.  

Among the industries that Next Insurance covers are contractors, construction, consulting, fitness, cleaning, beauty, therapy, entertainment, and education. Although the company offers policies in all 50 states, some customers have found that they are unable to get coverage for their particular profession.

Next Insurance has a similar, though longer, application process than that of Thimble, claiming to be able to provide a quote in 10 minutes. Although the company doesn’t offer a snazzy app like Thimble, it does make it easy to buy a policy, file a claim, and get proof of insurance online, all without ever talking to a person. 

Unlike Thimble, Next Insurance only offers policies by the month. Prices are only available by filling out an application and requesting a quote. The site claims that some professions can get policies starting at just $11 per month and others for just $3 per day.

Where Next Insurance shines above Thimble, however, is in customer service. The company offers both email and phone support from 9:00 a.m. to 6:00 p.m. PST Monday through Friday and also offers a searchable online help center with video guides. 

Although Next Insurance offers more policies than Thimble as well as the ability to talk to a live person, we still believe that Thimble is a better option for small businesses and freelancers to get fast and flexible liability insurance. 

Side-by-Side Comparison

Factor Thimble Next Insurance
Monthly Price Starts at $5 Starts at $11
Initial Fees None None
Number of Policies 3 5
BBB Accredited Business Yes Yes
BBB Rating A+ A+
BBB Customer Reviews 5-star Better than 4-star
Final Verdict

Quick Approval and Flexible Pricing

Although Thimble has only been around for a couple of years, it has earned a high customer satisfaction rating and its app, which is the primary way customers access their policies, is also highly rated. The company has also mastered the quick approval and short-term policy model with its extremely easy-to-use website and app. 

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. Better Business Bureau. "Verifly Insurance Services, Inc." Accessed August 18, 2020. 

  2. Trustpilot. "Thimble." Accessed August 18, 2020. 

  3. Better Business Bureau. "Next Insurance, Inc." Accessed August 18, 2020.