We’ve always known we wanted to introduce a feature like Pause to Thimble’s longer-term policyholders but we rolled up our sleeves a little higher to get it out now – while businesses are struggling due to the impacts of COVID-19.
Who needs Pause?
Maybe your business has slowed down and you don’t anticipate work coming in for a sustained period of time due to COVID-19 or even anticipated seasonality – Pause is the perfect solution.
How does Pause work?
- You’re able to pause for up to 30 days and resume the policy one time.
- You are still covered for bodily injury or property damage that occurs during a pause, so long as it’s a result of work you did while the policy was in effect.
- You are not covered for any new work you do while the policy is paused, so if you’re taking work, it’s important to resume.
- The policy will go back into effect automatically after 30 days, but you can resume it sooner if you need to.
Why not just cancel my insurance policy?
Thimble Monthly gets more affordable as it extends over 11 consecutive months. So although you can cancel at any time with no penalty, if you canceled then picked up work again, your new policy would reset to that first month’s higher price. Bad for your wallet—bad for your business. With Pause you can keep money in your pocket, resume coverage when you’re back to work, and continue paying the improved monthly price.
Can I Pause an On Demand policy?
On-Demand policies don’t need a feature like Pause because they’re already designed to cover jobs that need just an hour of coverage.
How do I Pause my policy?
If you’re a current Thimble Monthly policyholder, you can pause your policy right from Thimble app (iOS or Android). Simply open the app, go to My Policies, select Pause, acknowledge the terms, and see what one-of-a-kind flexibility is all about. This is just another way to further our mission of making insurance simple, so businesses can succeed on their own terms. You’d think it’s common sense, but it’s uniquely Thimble.