Thimble Insurance Review 2023

Pros

• Easy to use
• Adjustable coverage
• Strong mobile app
• Excellent user reviews

Cons

• Not available in New York, Washington
• Not suitable for large businesses
• No telephone service

What Is Thimble Insurance?

Thimble Insurance is an online insurance company offering fast and inexpensive coverage to small businesses.

Thimble stands out from its competitors by offering coverage you can adjust to your business needs. Thimble also offers event-based coverage and actively courts freelancers, seasonal business owners, and independent contractors of all types.

In this independent Thimble Insurance review, we’ll take a look at Thimble pricing, features, Thimble reviews, and more to help you decide if Thimble is the right insurance pick for your small business.

Thimble Insurance Pricing

Thimble pricing is hard to beat. It’s inexpensive, it’s flexible, and you can choose from a limited a la carte menu of policies to get the coverage package your business needs.

Like most insurance companies, Thimble offers personalized quotes for coverage. Your price will depend on a variety of factors, including your location, your business size, and what types of coverage you purchase.

Unlike other insurance companies, Thimble offers almost instant quotes. And if you like your quote, you can pay online and be covered almost immediately.

How To Get A Thimble Business Insurance Quote

It couldn’t be easier to get a quote for Thimble business insurance.

Screenshot of Thimble webpage, captured 5/24/2023

When you visit Thimble’s website, you’ll be prompted to enter your ZIP Code. Unless you’re based in Washington or New York, where Thimble Insurance is not available, you’ll be asked to choose general business insurance or insurance for an event, such as a festival or concert.

Next, you’ll be asked to type in the type of work you do, such as photographer, landscaper, and so on. Autofill prompts will appear as you type, helping you narrow your industry focus. Make your selection, and you’ll see suggestions for the types of coverage you should consider.

You’ll need to answer a few quick questions about your business, including your income, physical address, and what type of building you work from. Home-based businesses are not eligible for building coverage, but you can insure your business property inside your home.

Once you answer these questions, you will see an instant price quote. Pay the first and last month’s premium, and you can start your coverage that day. You can also add additional coverage, such as equipment breakdown and auto coverage.

I especially appreciate that Thimble’s price quote includes useful information about deductibles, policy limits, and policy packages. You can see exactly what is covered and to what extent. Transparency is valuable when it comes to purchasing business insurance, and Thimble delivers in this area.

Thimble Small Business Insurance Features

It’s important to note that Thimble does not underwrite the policies it sells. Instead, Thimble works with highly rated direct insurance providers.

Judging by customer reviews of Thimble, this strategy is successful. Thimble offers some of the best-priced coverage available to customers’ apparent satisfaction. All your interactions with Thimble will be done online, from your desktop or using Thimble’s highly-rated mobile app.

Let’s take a look at a couple of significant details about Thimble Insurance:

Thimble Insurance Mobile App

Available for iOS and Android, Thimble Insurance’s mobile app receives high marks from users, with 4.8/5 stars on the Apple App Store and 4.5/5 stars on the Google Play Store.

You can use the app to purchase coverage by the hour, day, or week and gain an instant certificate of insurance. Simple!

Partner Perks

Thimble Insurance offers what it calls a small business toolkit, featuring special offers on tools and services your business can use. These perks include a free trial of Rocket Lawyer, discounts on QuickBooks and Workiz, and other special offers.

Insurance Glossary

Thimble Insurance is not aiming to serve large, sprawling, multinational corporations with full legal departments. This insurance is aimed squarely at small business owners who may not have more than a passing familiarity with business insurance and insurance terminology.

I appreciated Thimble’s online insurance dictionary and glossary. If you don’t understand the business insurance discussion, it’s hard to know whether you’re getting the right amount of coverage or how insurance works. This list of commonly used terms and phrases will help you out.

It’s a quick read and worth your while, even if you ultimately choose a different insurance provider.

Thimble Small Business Insurance Range Of Services

Thimble Insurance offers the most common types of business insurance plus a few less common policy types. However, if you’re looking for the full spectrum of business insurance, Thimble probably won’t be the best choice.

That said, we think Thimble has the right policies for its target audience. Here’s a rundown of the types of policies Thimble Insurance offers:

Thimble Insurance Business Owners Policy

Thimble’s business owners policy (BOP) combines general liability insurance and commercial property insurance into one bundle. Those two types of coverage are the most common combination for a BOP.

You can opt to add additional types of coverage to your Thimble BOP, including business interruption, equipment breakdown, and hired or non-owned vehicle liability.

Thimble’s BOP includes up to $10K in coverage for theft, loss, and accidental damages to any business property that you take off your business premises.

Thimble Event Insurance

You can purchase special event insurance and gain liability coverage against the risks of organizing or participating in a special event such as tournaments, parties, concerts, banquets, funerals, and more. Remember, you can purchase same-day coverage from Thimble and use the app to show a certificate of insurance (COI).

Thimble’s event coverage includes third-party bodily injury, property damage, and liquor liability. (If your business is selling or serving alcohol, consider adding retail liquor liability coverage.)

Thimble does not include event cancellation coverage in its event insurance package. However, thanks to Thimble’s flexible approach to insurance, you’ll be able to cancel your coverage and get a full refund up to the time your event was scheduled to start.

You’ll need to get a specific price quote for your event, of course. For reference, Thimble says you can expect to pay about $115-$340 for a one-day policy, with the exact amount depending on the type of event and expected attendance (from 15-1,000 people).

Individual Business Policies

In addition to a BOP or event coverage, you can purchase these types of insurance policies from Thimble:

• Errors and omissions (E&O)
• Commercial property
• General liability
• Workers’ compensation
• Cyber insurance
• Business equipment coverage

Industry Coverage

Thimble offers specialized packages to businesses in the following categories:

• Contractors and handymen
• Landscapers
• Janitors and cleaners
• Event organizers
• Freelancers and consultants
• Photographers and videographers
• Hair and beauty professionals
• Fitness and personal trainers
• Pet sitters
• Retail stores
• Restaurants

Thimble Insurance Blog

Thimble sends out a newsletter called the Greenlight Blog every other week with tips aimed at a range of industries. Topics include practical tips and how-tos.

Specific Size Of Business

Thimble is large enough for many small businesses, independent contractors, and freelancers. Because not all of Thimble’s offerings are available in all states, we think it’s best suited to smaller companies with fewer than 50 employees.

Thimble can be a particularly good fit for any small business that needs insurance only intermittently. Because you can purchase same-day coverage and access proof of coverage easily, it’s perfect for contractors, event planners, and anyone else who may need to comply with a third party’s insurance requirements.

Thimble Business Insurance Claims

Because Thimble does not write its own policies, when you file a claim, you’ll file it with the insurance company that provides your coverage and not with Thimble itself.

That doesn’t mean Thimble won’t be there to assist you through the process, however.

How To File A Claim With Thimble Business Insurance

You can start the claim process online through Thimble’s website or through the app. Thimble will gather some information about your claim and pass it along on your behalf.

If you have questions during the claims process, you can request support from Thimble via email.

Customer Satisfaction With Thimble Business Insurance Claims

Thimble receives good reviews from customers across the board, including customer satisfaction with the claims experience. According to Insuranks, Thimble customers give the claims process 4.5/5 stars.

Thimble is fiscally sound, and its policies are backed by top-rated insurers such as Markel, which is rated A for financial strength by Standard & Poor’s, AM Best, and Moody’s.

Customer Service & Support

Thimble receives high marks for its customer service from customers, garnering a 4.5/5-star rating for customer satisfaction, according to Insuranks.

Although it’s possible to find complaints online (more about that in the next section), the majority of Thimble Insurance customers said their experience with the company was easy and satisfactory. It’s highly likely that partly reflects the fact that Thimble is designed as a self-service operation with an easy-to-use app and a simple process for signing up for insurance coverage online.

Thimble Small Business Insurance Reviews

Looking at online reviews from actual users, I had to search to find negative comments. In fact, of all the business products I have reviewed for Merchant Maverick, Thimble Insurance customers might just be the most satisfied.

Thimble is affiliated with the Better Business Bureau and maintains an A+ BBB rating. A full 86% of the 1,287 comments posted on the BBB website give Thimble 5/5 stars. That’s unusual, to say the least, since the BBB is most commonly associated with complaints rather than praise for companies.

Let’s take a look at the good and the infrequent bad comments I found online.

Negative Thimble Reviews & Complaints

With just around 65 of 1,287 Thimble reviews on the Trustpilot website giving the insurance broker anything less than 4/5 stars, it took a little digging to find complaints.

The following is a sampling of the negative comments; note that they are mostly matched and overwhelmed by positive comments on these same areas:

• High cost of coverage
• Poor customer service
• Unsatisfactory claims process

Positive Thimble Reviews & Testimonials

Thimble has a target audience of small business owners who need insurance quickly. Many Thimble customers are purchasing business insurance for the first time. Judging by online reviews from customers, it hits that target very well and satisfies its customers.

Here are some examples of the positive comments customers say they like about Thimble Insurance:

• Simple process and fast coverage
• Good value for the money
• Efficient and user-friendly app
• Easy to cancel, flexible coverage
• Easy to tailor coverage

Final Verdict Of Thimble Small Business Insurance

Thimble Insurance fills a gap in the insurance industry and, judging by customer comments online, Thimble fills that gap very well.

Not every small business fits into a big insurance box. While we think Thimble can be a great option for any small business, it’s especially well-suited for anyone who wants the peace of mind that comes from having business insurance but doesn’t need daily coverage.

We feel confident in saying that Thimble is the best insurance company you’ll find that offers traditional coverage for small businesses and insurance by the hour, by the day, or by the job. If that sounds intriguing, visit Thimble today and find out how much you’ll pay for the business insurance coverage you need.

If, after reading this, you’re still curious about your other insurance options, our rundown of the best small business insurance companies details some excellent providers.

Thimble Business Insurance FAQs

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