Personal Lines Identity Theft and Cyber Insurance
Cyber and identity theft insurance coverage continues to grow in demand, even for individuals. The exposure to sensitive personal information getting leaked continues to rise as technology becomes more integrated into our lives. Check with your M3 Elevate account executive to make sure you are protected for both cyber and identity theft. This article will address tips to avoid exposure to identity theft and cyber incidents, along with discussing the benefits of obtaining this insurance protection.
Ways to Avoid Exposure to Identity Theft and Cyber Incidents
The chance of cyber related incidents has increased as more individuals turn to online shopping. If you encounter pop-ups, even for websites/stores you are familiar with, avoid clicking on those links. Cyber attackers are becoming more sophisticated and have the ability to display familiar looking pop-ups to you. When in doubt, always go directly to the website vs. clicking on pop-ups. This is especially important if you are entering login information. Be sure to monitor online banking transactions and report suspicious charges to your bank immediately.
Cyber bulling is another huge exposure risk. Individuals who participate in cyberbullying and leave negative comments on posts, without the right insurance, could be left with no coverage.
If hackers are able to gain access to your computer, they can steal all of your personal information, including saved passwords. In extreme cases, some hackers may try to extort you for money. These precautions will reduce your chance of becoming victim of a cyber or identity theft exposure. However, as hackers become more powerful and tricky, many individuals are relying on insurance coverage, in addition to taking precautions, to protect themselves from major financial loss.
Identity Theft and Cyber Insurance Options for Individuals
Our M3 Elevate personal lines experts are able to partner with you and offer identity theft and cyber insurance coverage. Cyber and identity theft insurance may be included as an endorsement to your homeowners policy. This protection may also be implemented as an add-on coverage with cyber and identity theft policies (that can be combined or separate). M3 Elevate’s personal lines team will help determine the best policies to fit your individual needs and ensure you are protected from cyber and identity theft.
Identity theft protection can help victims restore their credit history and records to pre-theft status. Once an identity thief has your vital information, they can drain your bank account, open credit cards, and get medical treatment under your health insurance. They can even file a tax refund in your name.
We understand that identity theft can be a frustrating and time-consuming process to repair the damage, however, M3 Elevate is here to lift the burden from the victim and streamline the process to restore a re-theft status. This coverage helps with expenses that occur when you restore your identity. Read more about identity theft and ways to identity if your identity has been stolen.
Cyber coverage typically protects you from cyber extortions and cyber-attacks. Essentially, it can provide individuals with financial reimbursements for the cost related to stolen digital information. This coverage helps when you are a victim of a computer attack, home systems attack, cyber extortion, online fraud, or a data breach.
When it comes to online security, it is important be extra cautious as technology becomes more integrated into our lives. Avoiding pop-ups, avoiding unfamiliar websites, closely monitoring banking transactions, and always going directly to original websites before logging in are key ways to prevent a cyber or identity incident. As hackers become more sophisticated, it may be difficult to avoid every exposure which is why M3 Elevate is experiencing an increase in individuals looking for both cyber and identity theft protection.
- Identity theft protection can help victims with the financial expenses of restoring their identity
- Cyber protection can help victims with the financial expenses of a computer attack, home systems attack, cyber extortion, online fraud, or a data breach
- In most cases, we recommend having both coverages
Reach out to our M3 Elevate personal lines team to learn more about identity theft and cyber insurance.