DeFi Insurance
DeFi cover evaluated across claims actually paid, what is genuinely covered, capital backing, and who can buy it.
7providers tracked
6ranked (methodology v2026.11.1)
12 November 2026Ranking snapshot
3 November 2026oldest read · due 18 DecIndependent. Evidence-based.We rank with a published method and sourced evidence. No one can pay to rank.How it works
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6 providers match your requirements
Out of 6 ranked providers. 0 excluded.
What this ranks
Ranked here: DeFi insurance cover for protection against smart-contract, custodian or depeg failure, compared on claims actually paid, what is covered, capital backing and who can buy it.Not ranked here: anything other than DeFi cover against smart-contract, custodian or depeg failure.6 of the 7 assessed are ranked; 1 were turned away by name. Who, and whyRequirements narrow the list; they never change a published ChainChoice Score. How the ranking works
NE
Nexus Mutual
How Nexus Mutual was chosen
Leads this ranking on Claims actually paidThe only crypto cover provider
86 / 100 out of 100published score, #1 of all 6 worldwide
Evidence
High
4/4 criteria scored, with 4 dated sources quoted.Claims recordExclusions
Why it leads
- Nexus Mutual is 17 points ahead of OpenCover, mainly because it scores higher on its claims record and its exclusions.
- Best in this ranking on claims record and exclusions
- Ahead of OpenCover on claims record (+8.0 points) and exclusions (+3.5 points)
Tradeoff
Backing: 4 points below the best in this ranking
Share
#ProviderPriceCompare
2
The broker front-end
69 / 100 out of 100
3
A genuinely licensed Bermuda carrier
54 / 100 out of 100
4
Lloyd's coverholder
46 / 100 out of 100
5
RE
Bermuda carrier writing crypto crime
43 / 100 out of 100
6
Universally described as crypto insurance
≤41 / 100 out of 100
Compare providers (0)
See key differences in features, fees, security and more.
Claims record
Claims actually paid
32% of the published criteria weight. Scored 0–10 from the published evidence; the order below is by this criterion, then the published ranking.
| Provider | Claims record (0–10) | ChainChoice Score |
|---|---|---|
| Nexus Mutual | 10 | 86 |
| OpenCover | 6 | 69 |
| Chainproof | 2 | 54 |
| Evertas | 2 | 46 |
| Relm Insurance | 2 | 43 |
| Coincover | 1 | 41 |
Exclusions
What is actually covered
28% of the published criteria weight. Scored 0–10 from the published evidence; the order below is by this criterion, then the published ranking.
| Provider | Exclusions (0–10) | ChainChoice Score |
|---|---|---|
| Nexus Mutual | 9 | 86 |
| OpenCover | 7 | 69 |
| Chainproof | 5 | 54 |
| Evertas | 2 | 46 |
| Relm Insurance | 2 | 43 |
| Coincover | 1 | 41 |
Backing
Capital adequacy & backing
22% of the published criteria weight. Scored 0–10 from the published evidence; the order below is by this criterion, then the published ranking.
| Provider | Backing (0–10) | ChainChoice Score |
|---|---|---|
| Evertas | 8 | 46 |
| Chainproof | 7 | 54 |
| Relm Insurance | 7 | 43 |
| Nexus Mutual | 4 | 86 |
| Coincover | 3 | 41 |
| OpenCover | 2 | 69 |
Access
Who can buy it
18% of the published criteria weight. Scored 0–10 from the published evidence; the order below is by this criterion, then the published ranking.
| Provider | Access (0–10) | ChainChoice Score |
|---|---|---|
| OpenCover | 9 | 69 |
| Nexus Mutual | 7 | 86 |
| Evertas | 3 | 46 |
| Chainproof | 2 | 54 |
| Relm Insurance | 2 | 43 |
| Coincover | 1 | 41 |
All 4 published criteria
Every ranked row’s score on each criterion, in the published order. Choose a column to order by it.
| Provider | ChainChoice Score | |||||
|---|---|---|---|---|---|---|
| 1 | Nexus Mutual | 10 | 9 | 4 | 7 | 86 |
| 2 | OpenCover | 6 | 7 | 2 | 9 | 69 |
| 3 | Chainproof | 2 | 5 | 7 | 2 | 54 |
| 4 | Evertas | 2 | 2 | 8 | 3 | 46 |
| 5 | Relm Insurance | 2 | 2 | 7 | 2 | 43 |
| 6 | Coincover | 1 | 1 | 3 | 1 | 41 |
How this ranking works
How firm the #1 is, the per-criterion arithmetic behind each score, who pays ChainChoice, and which DeFi insurance were assessed and left out.
FirmThis verdict holds under every one-point re-read
See the arithmetic
Every published criterion was moved up and down by one point and the ranking re-run. The same product came first each time. The published rankings file
Why this score4 published criteria · leads 2 of 4
Published criterionWtScore, and the best hereGap/10 out of 10Pts
Claims actually paid7.7·1010.2
What is actually covered6.7·98.1
Capital adequacy & backing5.3−442.8
Who can buy it4.3−274.0
Σ methodology points25.2/32
Each bar is the score on that criterion’s own 0–10 scale, never rescaled to the pool. The dark line is the best any product here reached on that axis. Wt is the most the criterion can add to the 86-point weighted total. Pts is weight × score × 32; the sum is the methodology score, and each weighted point behind the leader costs 2.6 on the displayed score. how these are weighted
Why it ranks first
Why Nexus Mutual leads this category right now
The only crypto cover provider with a real, auditable claims record — and it denied 52% of every claim ever…. Strongest on claims actually paid (10/10): Nexus Mutual publishes every claim with its verdict and amount: 216 claims, 103 approved totalling about $18.6M and 113 denied totalling about $5.9M, with the full history downloadable as CSV. Weakest on capital adequacy & backing (4/10): Nexus Mutual is a discretionary mutual, not an insurer. Its capital pool holds about 39,800 ETH (roughly $96M) on 4 November 2026, down from about 47,100 ETH (roughly $179M) a year earlier, read from its Pool contract on-chain. Published price: Rates read live from api.nexusmutual.io/v2/capacity on 2026-11-03, not from marketing copy. The API publishes each listing's "minAnnualPrice" and "maxAnnualPrice" as a fraction of the cover amount per year.
Best for
Claims record — 10/10
Main tradeoff
It is discretionary cover, not insurance, and Nexus says so: 'Cover is discretionary: if you suffer a loss, the Claims Committee assesses your claim…
Verify before signup
Rates read live from api.nexusmutual.io/v2/capacity on 3 November 2026, not from marketing copy. The API publishes each listing's "minAnnualPrice" and "maxAnnualPrice" as a fraction of the cover amount per year. Of 480 listings, 231 have purchasable capacity, and the MEDIAN minimum annual price across those 231 is "0.019" (InfiniFi and OpenCover Base USDC SuperVault both list "minAnnualPrice":"0.019"), which is 1.9% of the cover amount a year (worked conversion: 0.019 x 100). Minimum prices run from "0.0015" (Lido) to "0.29" (Mellow Finance Bug Bounty Cover). Examples, min to max as published ("minAnnualPrice" / "maxAnnualPrice"): Aave v3 "0.0088" / "0.040431112369060394"; Uniswap v3 "0.002" / "0.008093711751979721"; Curve All Pools (incl staking) "0.0025" / "0.04"; Ether.fi Slashing "0.0075"; Sky USDS Depeg "0.005" / "0.005474120194433097"; BingX Custody "0.0427"; HTX "0.0396"; Hyperliquid Core "0.035" / "0.037474015087877164". 91 of the 231 listings use fixed pricing per api.nexusmutual.io/v2/products; the rest are priced dynamically, so the minimum is a floor, not a quote. Cover is denominated in ETH, USDC or cbBTC, and Nexus's docs say the cover fee can be paid in ETH, USDC, cbBTC or NXM. Joining the mutual costs a one-time 0.0020 ETH membership fee.
Recommendation summary
What should decide this category
Which specific risk are you trying to cover — protocol failure, custody, depeg, or something else?
Can you actually buy this cover as your entity type and in your jurisdiction?
Have you read what the policy excludes, rather than what the headline limit says?
Quick picks
Strong options in this category
Start with the lead choice first, then use the shortlist only if you still need a challenger or stronger fit for a specific setup.
Best overall
NE
Nexus Mutual
The only crypto cover provider with a real, auditable claims record — and it denied 52% of every claim ever…
The only crypto cover provider with a real, auditable claims record — and it denied 52% of every claim ever…. Strongest on claims actually paid (10/10): Nexus Mutual publishes every claim with its verdict and amount: 216 claims, 103 approved totalling about $18.6M and 113 denied totalling about $5.9M, with the full history downloadable as CSV. Weakest on capital adequacy & backing (4/10): Nexus Mutual is a discretionary mutual, not an insurer. Its capital pool holds about 39,800 ETH (roughly $96M) on 4 November 2026, down from about 47,100 ETH (roughly $179M) a year earlier, read from its Pool contract on-chain. Published price: Rates read live from api.nexusmutual.io/v2/capacity on 2026-11-03, not from marketing copy. The API publishes each listing's "minAnnualPrice" and "maxAnnualPrice" as a fraction of the cover amount per year.
Best for: Claims record — 10/10
Claims actually paid · weight 32%10/10What is actually covered · weight 28%9/10Capital adequacy & backing · weight 22%4/10Who can buy it · weight 18%7/10
Quick pick
OpenCover
The broker front-end for onchain cover — its purchase app names Nexus Mutual as the cover provider
The broker front-end for onchain cover — its purchase app names Nexus Mutual as the cover provider. Strongest on who can buy it (9/10): OpenCover sells protocol, depeg and custody cover by wallet connect with no identity check; its terms require users to be 18 or older, not resident in 21 listed jurisdictions and not under US, UK or EU sanctions. Weakest on capital adequacy & backing (2/10): OpenCover is a distributor, not a carrier or pool: its terms say it does not directly provide cover and is not authorised or regulated by any statutory authority. The capital behind its cover belongs to the cover provider, Nexus Mutual. Published price: OpenCover's homepage (opencover.com, read 2026-11-03) advertises "With premiums starting at $2 per week for $5,000 of coverage". Worked example (our arithmetic, not an OpenCover figure): $2 x 52 weeks = $104 a year on $5,000, which is 2.08% per annum.
Best for: Access — 9/10
Claims actually paid · weight 32%6/10What is actually covered · weight 28%7/10Capital adequacy & backing · weight 22%2/10Who can buy it · weight 18%9/10
Quick pick
Chainproof
A genuinely licensed Bermuda carrier for non-custodial DeFi and slashing risk — with no public claims record…
A genuinely licensed Bermuda carrier for non-custodial DeFi and slashing risk — with no public claims record…. Strongest on capital adequacy & backing (7/10): Chainproof Digital Asset Insurance Ltd is listed by the Bermuda Monetary Authority as a Class IIGB insurer, a regulated carrier. Chainproof names no capital figure and no capacity partner, so the size and trend of its backing are not disclosed. Weakest on claims actually paid (2/10): Chainproof calls itself a licensed insurer with claims management but publishes no claim count, no paid or denied figure and no amount on its site; the absence of a claims record is scored as risk. Published facts: No published rate exists and none should be inferred. Chainproof's products page (chainproof.co/products, read 2026-11-03) states: "All policies are bespoke.
Best for: Backing — 7/10
Claims actually paid · weight 32%2/10What is actually covered · weight 28%5/10Capital adequacy & backing · weight 22%7/10Who can buy it · weight 18%2/10
Quick pick
Evertas
Lloyd's coverholder with the biggest headline number in crypto — but the $600M limit is for mining hardware,…
Lloyd's coverholder with the biggest headline number in crypto — but the $600M limit is for mining hardware,…. Strongest on capital adequacy & backing (8/10). Weakest on claims actually paid (2/10). Published facts: No published rates. Evertas writes bespoke policies through its own underwriting process, placed with underwriters at Lloyd's and other insurers; premium is set per risk. Evertas states its policies carry A- (IX, Excellent) from A.M.
Best for: Backing — 8/10
Claims actually paid · weight 32%2/10What is actually covered · weight 28%2/10Capital adequacy & backing · weight 22%8/10Who can buy it · weight 18%3/10
Considered and not ranked
1 product we looked at and left out
A shortlist is only honest if it says who it turned away. It was assessed against the same published criteria as the ranked table and excluded for a stated reason — not overlooked.
We assessed 7 products here and rank 6 — 86% of what we looked at. That share is of the products we assessed, not of the category: how many exist is not something we can count, so we do not claim a number for it.
Breach Insurance· No longer operating
What this ranking does not assess
- Contract failure: the code holding the funds is exploited.
- Control failure: a key or vote changes the rules, freezes or mints.
- Execution failure: you get a worse price, later, or nothing.
- Exit failure: you cannot get out at par, on time, or with what is yours.
These can still cost you money here; the ranking does not measure them, so a high place says nothing about them. Which criterion scores each family, and why the others do not apply, is in /data/risk-coverage.json.
How this ranking is built
Reviewed on claims actually paid versus denied, what the policy genuinely covers, capital adequacy, and who can buy it. Advertised limits are never scored on their own.
Data checked Nov 2026 · Independent rankings · We show our work
How this page is reviewed
Reviewed means every product ranked on this page was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
Direct answer
What is the best DeFi insurance provider in 2026?
Nexus Mutual ranks #1 overall for DeFi insurance on ChainChoice. The only crypto cover provider with a real, auditable claims record — and it denied 52% of every claim ever…. It holds that rank under an affiliate-blind methodology scored across 4 published, weighted criteria — the code that ranks providers physically cannot read affiliate payouts (CI-enforced), so a payout can't move a rank. The verdict re-computes on every fee change, incident, or regulatory action; the full reasoning and the audit receipt are under Methodology.
How you can lose money here, and what the ranking scores
- Insolvency failure: the firm or issuer that owes you cannot pay.Scored by Claims actually paid · 32% (Nexus Mutual 10/10, OpenCover 6/10, Chainproof 2/10)Scored by What is actually covered · 28% (Nexus Mutual 9/10, OpenCover 7/10, Chainproof 5/10)Scored by Capital adequacy & backing · 22% (Nexus Mutual 4/10, OpenCover 2/10, Chainproof 7/10)
- Regulatory failure: no licence where you are, or a forced market exit.Scored by Who can buy it · 18% (Nexus Mutual 7/10, OpenCover 9/10, Chainproof 2/10)
Not assessed by this ranking: Contract failure, Control failure, Execution failure, Exit failure. A high place says nothing about these; the Methodology tab says what each means.
FAQs
3 questions readers ask before choosing DeFi insurance.
Frequently asked
Questions people ask before choosing DeFi insurance
Is DeFi cover the same as insurance?
Often not. Some providers here are regulated carriers, some are discretionary mutuals where payout is a member vote, and at least one states plainly that it does not provide insurance coverage for assets. The distinction decides whether you have a contractual claim or a request.
Why does a provider with denied claims rank above one with none?
Because a published record of 96 paid and 113 denied is evidence, and no record at all is not the same as a clean one. Absence of disclosure is scored as risk rather than treated as neutral.
What matters most when picking cover?
Claims actually paid and what is genuinely covered — 60% of the weight between them. Capital backing and whether you can buy it at all follow.
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Best picks
Best DeFi insurance in 2026
The right cover depends on which risk you actually need covered, because the exclusions are the product. Two policies with the same headline limit can differ entirely on whether they pay for a custody failure, a governance attack or a depeg. The decisive input is whether the provider has an auditable claims record — paid and denied, with counts and amounts — since that is the only real test of a promise to pay.
Best overall
NE
Nexus Mutual
The only crypto cover provider with a real, auditable claims record — and it denied 52% of every claim ever…
Data checked Nov 2026
The only crypto cover provider with a real, auditable claims record — and it denied 52% of every claim ever…. Strongest on claims actually paid (10/10): Nexus Mutual publishes every claim with its verdict and amount: 216 claims, 103 approved totalling about $18.6M and 113 denied totalling about $5.9M, with the full history downloadable as CSV. Weakest on capital adequacy & backing (4/10): Nexus Mutual is a discretionary mutual, not an insurer. Its capital pool holds about 39,800 ETH (roughly $96M) on 4 November 2026, down from about 47,100 ETH (roughly $179M) a year earlier, read from its Pool contract on-chain. Published price: Rates read live from api.nexusmutual.io/v2/capacity on 2026-11-03, not from marketing copy. The API publishes each listing's "minAnnualPrice" and "maxAnnualPrice" as a fraction of the cover amount per year.
Best for: Claims record — 10/10
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Written and reviewed by Mathias Siemonsmeier, Founder
Not financial advice · For informational purposes only · Always do your own research