Small Business Insurance

Answering everything you ever wanted to know about small business insurance.

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What is business insurance?

It’s important to know that business insurance is not just one thing—it’s a category of insurance, with lots of different policies designed to cover different kinds of work.

Put simply, insurance covers the consequences of risk. Car insurance covers the risk of getting into a fender-bender. Health insurance covers the risk of getting sick. Business insurance covers the consequences of the (many) risks that come with owning a business.

If your job is inherently dangerous, you might already know that you need liability insurance in case of an accident. But in some job settings, major accidents seem less likely, so what’s the harm in going uninsured?

Whether “work” means you’re on a set, at a desk, or up a ladder, one incident of physical injury, property damage, or negligence could put you out of business, so it’d be wise to get some small business insurance.
Don’t worry, we make it easy.

Opting for small business insurance offers three main benefits:

1. It protects you from the financial consequences of risk.

This is the obvious one when it comes to small business insurance. Purchasing a policy can protect you against paying out of pocket for the kinds of accidents and offenses that happen all the time on the job.

2. It can get you more work.

Regardless of whether you think you need it, clients and businesses across industries often require proof of insurance from the people they contract. That means that if you want to get the best jobs, you’ll want a Certificate of Insurance readily available.

3. It’s a badge of trust for your business.

Getting small business insurance is a major step in establishing your business. Just like you probably need a business license and a website to promote your services, obtaining insurance is another way to lay a strong foundation for your business to be “legit.”




What does business insurance cover?

You may be required to purchase business insurance coverage in order to maintain compliance with state or local regulations, but it can also give you a leg up in pursuing new work opportunities. At the end of the day, purchasing small business insurance isn’t just about protecting yourself—it’s about growing a reputable business.

Here are the most common types of business insurance and what they cover.

General Liability

Commercial general liability insurance covers third-party claims of bodily injury, personal and advertising injury, and property damage.

Good for any small business that meets clients in person, like general contractors or members of a film crew.

Professional Liability

Also called errors and omissions (E&O), professional liability insurance covers third-party claims of negligence resulting in financial loss.

Good for people who offer expertise on a particular topic, like software engineers or tutors.

Drone Insurance

Drone insurance is where we got our start, as the company Verifly. We still offer this special type of general liability insurance, which applies to third-party injury or damage caused by your drone.

Good for (shocker) people who fly drones.

Event Insurance

Event insurance covers the liabilities specific to an event, like the risk of serving alcohol to attendees, renting equipment or décor, or unexpected cancellations.

Good for event coordinators, wedding planners, and party people of all kinds.

Who does business insurance cover?

Now that you know what small business insurance covers, it’s important to know who is covered by your liability policy.

Business Owners

As the business owner, you are primary policyholder, so you are what’s known as the Named Insured. You can add two types of people or entities to your insurance policy: crew and Additional Insureds.

Crew Members

Crew members are your employees or temp workers who are working with you on a job or project. By including them, you are extending your policy to cover their actions in the event of an incident like those described above. The ability to add crew members to your policy is unique to Thimble—it’s not a standard feature that comes with most small business insurance policies.

Additional Insureds

By contrast, Additional Insureds are individuals or entities added to a liability policy in regard to a specific job, activity, or location. Generally, they have a business relationship with the Named Insured (like a client, customer, or student), and including them on your policy extends insurance coverage to them if a claim or lawsuit is brought against them for an incident that results from your negligence.

Crew and Additional Insureds can be added to policies for all kinds of jobs including:

Why is business insurance with Thimble different?

Traditionally, insurance for small businesses could only be purchased on an annual basis, to the tune of hundreds (or even thousands) of dollars per year. For most small businesses, this presents such a huge financial burden that it often keeps them from taking on new opportunities or even getting started in the first place.

With Thimble, annual commitments are a thing of the past. Business insurance coverage can be purchased for a one-off project by the hour, day, or week, or you can keep the clock running with coverage on a simple monthly payment plan. Thimble is game-changing small business insurance, because it only works when you do.

How do I get business insurance?

Fast. Get a quote from Thimble in less than 60 seconds and get your Certificate of Insurance instantly upon purchase.

Small Business Insurance FAQs

As the business owner, do I need a separate business owners policy (BOP insurance)?

Not all businesses are eligible for BOP insurance. And, while eligibility requirements differ for each insurance agency, (typically) it’s meant for businesses with a small footprint that exist in low-risk industries. Your standard BOP policy would include a bundle of general liability insurance, commercial property insurance, and business interruption insurance. Because it doesn’t include professional liability insurance, BOP may not be right for you.

Does business insurance also include workers’ comp?

Like you’ve learned, business insurance is the category of insurance encompassing a wide range of different products. While general liability insurance covers bodily injury to your clients and other third parties, workers’ comp insurance covers injury to your own employees or crew. Thimble does not currently offer workers’ comp, but we’re expanding our offerings constantly. Stay tuned!

Does business insurance also include business interruption insurance?

Business interruption insurance covers financial losses if something out of your control prevents your business from functioning regularly. In that unfortunate circumstance, business interruption insurance could help you weather the storm. Thimble does not currently offer business interruption insurance, but stay tuned!

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