The ever-increasing advances in the digital world continue to create more opportunities for cybercriminals as cyber-attacks can happen to anyone and have lasting financial impacts. So, it is important to know how personal cyber insurance can help you to protect yourself and your household. For this, you will also need to consult with insurance brokers in Canada.
Personal cyber insurance is a relatively unique insurance coverage being offered in response to the growth in cyberattacks and incidents in recent years. It can also help you to recover quickly and save financial losses from a cyber incident that could potentially cost thousands. Many insurance companies suggest this coverage as an add-on to your home insurance policy. It can also be bought as a standalone policy from insurance brokers in Canada.
Anyone who holds a device connected to the internet must consider purchasing personal cyber insurance, as it includes mobile phones, gaming consoles, smart televisions, home systems, fridges, etc. According to a 2023 Ipsos poll, just about 27 per cent of fraud targets report telling family members about the incident, and only 22 per cent told their friends, as cyber attacks can happen a lot on our personal devices more than you may think.
Personal cyber insurance will offer cyberattack coverage if someone has unauthorised access to your computer and other devices. Cyber extortion coverage can help with fleecing expenses incurred and funds paid as a result of a credible cyber threat. Cyber fraud coverage helps cover financial losses caused by the unauthorised use of your credit card and accounts. Cyberbullying coverage assists with counselling costs, experienced cybersecurity expenses, and legal expenses for the removal of online content and surveying software to prevent further occurrences. Data breach coverage helps with loss, theft, accidental release or accidental publication of privately identifiable information for one or more affected individuals.
There are some points you can accept to stay cyber safe and decrease your risk of a cyberattack. Which include updating your software and devices regularly. You can utilise strong passwords that are unique to each platform. You must check the sending address of any emails and messages before replying or opening any links. Use multi-factor authentications. Avoid using public Wi-Fi networks. You must avoid sharing personal information on social media, utilising parental controls for protection in place for children using devices. You must educate the children about potential dangers that could be encountered online.
Insure Horizon is a leading insurance and wealth management brokerage company with access to all the major insurance companies. We help you in different walks of life by providing a wide range of insurance services and plans that cater to your needs. We have years of industry experience to guide you and help you choose the right policy for your situation. We provide a broad range of insurance services that cover your health, life, international student insurance, and travel insurance.
