Insurance Policy Terms

Policy Term: Coverage runs from your coverage effective date through the Policy Term End Date (currently January 23, 2027). You cannot cancel or opt out before that date.

Auto-renewal at the same or lower premium: If Simple Mining renews the Master Policy at the same or lower rate, enrolled customers are automatically renewed. No action is required. Coverage Values and rates are updated to current at renewal.

Renewal at a higher premium: Simple Mining will notify you as soon as renewal pricing is available. You must affirmatively re-enroll to continue coverage at the new rate. Customers who do not re-enroll by the stated deadline will have coverage end on the Policy Term End Date.

If the Master Policy is not renewed: Simple Mining will notify all enrolled customers. Coverage ends on the Policy Term End Date, billing stops, and Simple Mining has no liability for the unavailability of coverage going forward.

Early termination of your Hosting Agreement: If your Master Hosting Agreement ends before the Policy Term End Date for any reason, your insurance coverage terminates simultaneously All remaining Premium Pass-Through amounts and Administrative Fees through the Policy Term End Date are accelerated and due immediately.

Selling or retiring equipment: Coverage on that unit ends at the point of sale or retirement, but your Premium Pass-Through and Administrative Fee do not decrease, they remain fixed through the Policy Term End Date. If you sell a unit through the Simple Mining marketplace, the buyer does not inherit coverage and must separately enroll at renewal.

Coverage Value refresh at renewal: At each renewal, Simple Mining updates every enrolled unit's Coverage Value to reflect its then-current Replacement Value, recalculates your Premium Pass-Through and Administrative Fee, and re-determines your Applicable Premium Rate based on the new Master Policy rate.

Paused, offline, or stored equipment: Powering down, curtailing, storing, or sending a unit out for repair does not remove it from the Program. The unit remains Covered Equipment and charges continue to apply, because it remains exposed to covered perils whether or not it is operating.