A lot of things have changed in the past couple months due to Coronavirus. Although Columbia began re-opening several weeks ago, high-risk or more cautious residents are still staying at home and taking advantage of many online and delivery services. With such an increase in online activity, extra protection should be considered to safeguard your important information.
Online shopping puts consumers at risk for identity theft or a cyber attack. Many standard homeowners insurance carriers have been offering Identity Theft coverage as an additional endorsement for purchase for the last several years. This coverage can provide a set limit for expenses incurred to restore the policyholder’s financial identity in the event of an identity theft, such as with the case of Travelers offering $25,000 or Auto-Owners offering $15,000 on home AND auto policies (for a total of $30,000). Progressive’s homeowners policy provides the coverage with no limit included with the purchase of their HomeShield Plus or Platinum endorsements, provided that indemnification services are obtained through a fraud management company called CyberScout.
A newer coverage entering the market offers protection against cyber attacks. For example, Home Cyber Protection from Auto-Owners is a great option. This is an affordable, additional coverage that can be purchased for all types of connected technology – such as your computer, tablet, and smartphone.
Home Cyber Protection from Auto-Owners provides protection against the following online attacks:
Pays for the cost of professional firms to perform data recovery and restore your system to the same level of functionality as before the cyber attack.
Provides professional advice and consultation from a subject matter expert on how to best respond to a threat and also pays approved extortion response payments (ransom).
Pays for direct financial loss as a result of identity theft or the unauthorized use of an insured’s bank account or credit card.
Allows for a Forensic IT Review determining the extent of a data breach and others who have been affected; provides a legal response, notification and services to affected individuals including credit monitoring and identity restoration.
There are some steps you can take to help protect yourself against online attacks:
As time goes on and smart-home technology continues to advance, carriers will continue to tailor products and endorsements to protect its customers from hackers. If you feel like you are at an increased risk for a Home Cyber Attack or Identity Theft due to your increased online usage in recent months, please contact the agents at Kasmann Insurance Agency to discuss your homeowner coverage. We are happy to review your current coverage and advise you on any new options we have available or that may apply in lieu of recent events.