Simple Mining Insurance Program — FAQ
What Is the Simple Mining Master Policy Coverage Program?
The Master Policy Coverage Program is an optional insurance program that covers your physical mining hardware against direct physical loss or damage from covered perils (fire, theft, storm, etc.) while hosted at a Simple Mining facility.
Simple Mining is not the insurer. Simple Mining administers the program (managing enrollment, billing, and claims coordination) but the insurance carrier makes all coverage decisions. If a claim is denied or partially paid, Simple Mining has no obligation to compensate you beyond what the carrier pays.
Coverage is provided through surplus lines carriers. These are specialized insurers not protected by the Iowa Insurance Guaranty Association. If a carrier becomes insolvent, there is no state guaranty fund backstop, that risk falls on you.
What is covered: Physical mining hardware enrolled in the program and hosted at a Simple Mining facility.
What is NOT covered: Digital assets of any kind (mined crypto, tokens, pool balances, private keys, wallet credentials), third-party-owned equipment, and anything not hosted at a Simple Mining facility.