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Personal Cyber Crime On the Rise

There are plenty of access points in your home for hackers to breach–computers, phones, gaming or security systems, and smart home devices are all highly-susceptible to cyber-attacks.

Once they are in, hackers go to work wreaking havoc–and it’s not limited to fraudulent credit card charges and identity theft. Today’s advanced technology increases risk both online and offline, creating new opportunities for criminals to target your personal and financial information.  

Examples include cryptocurrency theft, unauthorized transfer or payment, forgery, alteration of checks, and social engineering (if an authorized account user, such as a personal assistant or family office manager, is deceived into providing personal information that gives a criminal access to your account or is tricked into wiring money directly to a criminal).

In many instances, when funds are stolen, financial institutions are not held responsible, which can leave you with a significant out-of-pocket loss.  Some scenarios of this include:

  • You pay to reserve a vacation home through an online rental website to later discover that the listing was fraudulent.
  • A criminal demands a ransom to prevent the sharing of your personal information or to restore access to your device.
  • A domestic employee forges checks in your name, stealing money from your bank account.
  • You sell tickets for a school fundraiser and have credit card information from buyers on your tablet and the tablet is stolen.

Usually sold as an add-on to homeowner’s insurance, personal cyber Insurance policies can help cover some of these risks.

Sometimes these policies come with special services like access to fraud specialists who can assist you throughout the recovery and resolution process, cyber monitoring, replacing or repairing electronic data, and/or retrieving, replacing or recreating financial or personal identification documents.

If you are considering personal cyber coverage, Avery can work with you to put the right policy in place to help you if you become a victim of a cyberattack.

Contact us today!

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Avery Insurance Agency
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