Vouch Insurance Review 2022

Thang Truong
Thang Truong
Updated on:

Tech startups have so many things on their plates, and insurance is so difficult to get that many of them just skip it altogether. Vouch insurance wants to change that. 

Vouch insurance is dedicated to providing insurance for tech startups. As a new company itself, Vouch launched in 2019. The founders recognized a need for a new type of insurance, since as a startup, you can’t raise money, sign a lease, or land a big customer without insurance, but many insurance companies are reluctant to lend to startups. Vouch now serves 22 states and is expanding rapidly. 

The founders saw an opportunity for an insurance company to just focus on tech startups. The needs of a tech startup are vastly different from a restaurant or a retail store—a tech startup can launch with just a few laptops. Vouch’s business insurance policies are written by Munich Re, a well-known global reinsurer. They focus on making the purchase process of small business insurance super easy and fast. You can complete the purchase and have insurance in less than 15 minutes. They are backed by many silicon valley companies and have raised over $70 million so far.

Vouch is currently expanding into mid-size companies that have raised series B funding and have up to 150 employees. They can now accommodate some of their earliest customers as they grow. 

Pros & Cons of Vouch Insurance

– Business insurance for startups
– Online application and approval
– Get insurance in ten minutes 
– Rapidly growing company
– Vouch has been around for less than two years
– Not available in every state yet
– Limited number of customers reviews 

If you are looking for the best cyber insurance for your company, be sure to shop around with a few companies or with a digital broker like CoverWallet, Simply Business, or commercialinsurance.net to compare several quotes to select the best one for you.

Products Offered by Vouch Insurance

Vouch has all types of business insurance a startup could want. They have:

  • General liability insurance
  • Business property
  • Directors and officers insurance
  • Errors and omissions
  • Fiduciary liability
  • Employment practices liability
  • Cyber
  • Crime
  • Workers compensation

If you have questions about what kind of insurance you need, Vouch has description of every kind of insurance they offer and why you might need it. 

General liability: covers you for third-party injuries, property damage you inflict, and slander.

Business Property: Protects you against loss, damage or theft of your business property. Also covers damages to rented space. 

Directors and officers insurance: Protects the personal assets of founders, board members and officers. Also protects you against wrongful acts done within the management of your startup. 

Errors and omissions: Protects you when a mistake you make causes a financial loss to a customer. 

Fiduciary liability: Protects you from mistakes in the management of employee benefit plans. 

Employment practices liability: Protects you from wrongful termination, improper hiring, or discrimination suits filed by employees.

Cyber liability: Protects you against data breaches 

Crime insurance: Protection from employee theft, forgery and fraud. 

Vouch’s goal is to grow with your startup. You can start off with basic coverage like general liability and business property insurance and then add on things like directors and officers insurance later on. 

>>MORE: Next Insurance Review; Thimble Insurance Review

Financial Strength Rating of Vouch Insurance

A.M. Best does not have a rating for Vouch, however, Vouch is backed and their policies are written by Munich Re, which is the world’s largest reinsurer. Munich Re has an A+ rating from A.M. Best. 

>>MORE: Best Small Business Insurance Companies 2020

Customer Satisfaction Rating of Vouch Insurance

Since Vouch is such a young company, there are currently no reviews and no complaints about it on the BBB website. They do get an A, and they are accredited. 

They are obviously too young to be considered by J.D. Power’s small commercial business insurance study. There are very few reviews about Vouch online—the best we could do was a site called Product hunt. They give Vouch 4.6 out of five, based on just 12 reviews. These reviews are numerical only, plus 12 reviews are a very small sample size. It does seem to point to a positive experience so far, though.

>>MORE: The 4 Best Business Owner Policy (BOP Insurance) Companies

Consumer Complaints Rating of Vouch Insurance

The NAIC (National Association of Insurance Commissioners) doesn’t have a listing for Vouch. They’re just too new and therefore, a bit of an unknown quantity. 

>>MORE: How Much Does General Liability Insurance Cost?

If you are looking for the best cyber insurance for your company, be sure to shop around with a few companies or with a digital broker like CoverWallet, Simply Business, or commercialinsurance.net to compare several quotes to select the best one for you.

Digital Experience Rating of Vouch Insurance

There is no paper involved at Vouch. The entire process is digital, and startups should be able to get everything they need in ten minutes or less. 

The online application asks you:

  • Name of your startup
  • State (Vouch is not in every state yet)
  • Website
  • Email address
  • Where you heard of Vouch
  • Does your startup already have insurance?
  • How many full-time employees do you have?
  • How much capital have you raised?
  • How much debt?
  • Software or hardware company
  • Consumer or enterprise and SMB
  • What kind of work you do (payments, insurance, wealth management, etc.)

If you pass this part of the application, you are roughly nine minutes away from getting business insurance. 

We were unable to get a quote, but the screenshot below gives you some idea of prices and coverages. 

Graphical user interface, application

Description automatically generated

In case you’re not into the whole digital experience, you can also talk to an insurance advisor. 

>>MORE: The 6 Best Providers of General Liability Insurance for Small Businesses

Last Thoughts

Startups have difficulty getting business insurance and are sometimes stymied by how long it takes to get insurance. Vouch can get you coverage the same day and you can add on more policies as your business grows. They do have some competition, but if you’re a startup founder, Vouch is definitely worth a look.

Thang Truong

Thang Truong covers small business insurance and small business success at BravoPolicy. He is a licensed P&C insurance agent. Previously, he held product leadership positions at realtor.com, Capital One, NerdWallet, and Mulberry Technology. He holds a MBA degree from UC Berkeley - Haas School of Business.

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