Personal Cyber Insurance for Southeastern MA & South Coast MA Individuals and Families
There are many ways that the internet, digital devices, and smart home tech have made a positive impact on our lives and made us more productive. However, all this connectivity has also made our homes and families more vulnerable to cyberthreats. These days, having personal cyber insurance—and the protection that comes with it—may be as critical as having home and car insurance.
Morse, of course, agrees there are countless benefits to living and working in today’s technology-driven world: We can connect with family, friends, and colleagues across the globe, from wherever and whenever we want. We can remotely check in on the security of our property and change its temperature, lighting, and waterflow. And we can quickly knock out many of our everyday tasks, like shopping and banking, from the comfort of our homes—all while wearing our pajamas!
Unfortunately, cybercriminals are also having a heyday in this vast online environment, and their attacks, which are already incredibly diverse, are getting more sophisticated all the time. Hackers come at you in a variety of ways, including through fraudulent emails, text messages, phone calls, and old-fashioned letters. They disguise their identity and pretend to be someone you know and trust, then bait you into clicking on a fake link, opening a virus-laden attachment, filling out a sham form, accepting a bogus friend request, or scanning a false QR code. Their goal is usually to get ahold of your most sensitive and personal information and, ultimately, your money.
Your smart home is fair game for cybercriminals as well. From your Wi-Fi network to your robot vacuum, hackers delight in taking over these home systems and devices and causing a major disruption in your and your family’s lives.
Personal Cyber Insurance: What It Covers and How It Works
Even if you and your family are following best practices for staying safe online, there’s no way to completely defend your devices and data from crafty hackers and their underhanded actions. For this reason, Morse has carefully selected and partnered with several top insurance companies that are able to provide our clients with personal cyber coverage for a wide range of cybercrimes. The types of events this insurance often covers include:
1. Cyberattack: A cybercriminal maliciously attempts to access or damage your home Wi-Fi network, personal computers, mobile phones, gaming systems, internet- or Bluetooth-connected devices, other connected home technology, and computer software and operating systems.
2. Cyber Extortion: A cybercriminal threatens to release your sensitive data, launch a cyberattack, or prevent you from accessing your files unless you pay them a fee.
3. Online Fraud: A fraudster uses your stored or stolen credit card information to take over your accounts, open new accounts, make purchases, and so on, or they trick you into sending them cash payments via popular mobile applications like PayPal, Venmo, or Zelle.
4. Data Breach: A cybercriminal gains access to a system or network that has your personally identifiable information (PII), protected health information (PHI), credential information, or credit card numbers; steals that data; and then sells it on the dark web or uses it to defraud or extort you.
5. Home Systems Attack: Hackers take over IoT (Internet of Things) devices in your home, from your smart refrigerator to your home surveillance system, disabling them, stealing personal information stored on them, causing irreparable damage to them, and more.
6. Cyberbullying: Someone targets you or a family member through social media, gaming platforms, mobile phones, or other digital technologies, spreading lies, posting embarrassing photos or videos, sending hurtful or threatening messages, and/or impersonating you in messages to others or through fake accounts.
As you can imagine, dealing with any of these types of cybercrimes can put a tremendous strain on your finances, affect your reputation, and be emotionally exhausting. But if you have personal cyber coverage, you typically get significant financial and professional support when one of these incidents occurs. For example, personal cyber insurance may assist you in:
- Restoring affected connected home device systems and lost or corrupted digital data after a cyberattack.
- Hiring subject matter experts to advise you on your response.
- Providing payment for a credible cyber extortion threat.
- Recouping direct financial losses from online fraud.
- Notifying and paying for services to affected individuals in the event that private personal data entrusted to someone in your household is breached.
- Securing counseling, temporary relocation, private tutoring, or monitoring of social media accounts after a cyberbullying incident.
Every day, millions of people, along with their homes and devices, are targeted by cybercriminals. In the aftermath of these events, victims spend billions of dollars and thousands of hours attempting to respond to and recover from them. The team at Morse may not be able to stop a cyberattack from happening, but we can help you be better prepared for a worst-case scenario with the right personal cyber insurance. We believe it is one of the most important coverages to consider adding to your homeowners, condo, or renters insurance policy.
If you’re ready to talk to us about this invaluable optional endorsement, feel free to call us today for additional information or contact us to get a quote.