Verifly Introduces On-Demand Liability Insurance
Verifly; from on-demand drone insurance to on-demand liability insurance.
Let me explain. The NYC-based startup that has raised $7M since its inception in 2015 has launched a new app to offer up to $2 million GL coverage, underwritten by Markel, for sole proprietors. Coverage is available by the hour (starting at $5 per hour) and in 11 states: Alabama, Arizona, Iowa, Michigan, Minnesota, Missouri, New Mexico, Pennsylvania, Tennessee, West Virginia, and Utah. Heard you counting.
Here’s how it works: user (1) downloads the app, (2) chooses from five categories (think: Construction, Professional Services, Events & Entertainment, Home & Garden, Pets), (3) picks a time (daily or hourly), and (4) gets covered.
Have a look:
Wait, there’s more. Verifly has simplified the business classification process by creating a more relevant list of job descriptions for a select list of popular gig platforms. Neat.
Bottom Line: Jones comes to mind. The NYC-based startup promises pay-as-you-go liability coverage starting at $1.99 a day. Note: based on my experience, coverage can’t be purchased online.