Should confidential or sensitive information from your device or online account be leaked, whether by accident or through a third-party breach, you are protected
Cyber Sachet insurance is a type of byte-sized low ticket cover that provides for loss of money due to online fraud, data theft, credit/debit card fraud, social media liability, etc. It's a highly beneficial cover as cyber risks are on the rise lately.
What Is Covered
If your personal data is corrupted or lost because of a malware or ransomware attack, the insurance will pay for its recovery and the removal of malicious software. Should your device or its internal parts be harmed in the process, the cost of replacing the affected hardware is also included.
If you pay for a product on a fake website and never receive it, you can claim compensation. Similarly, if you sell something to a buyer who doesn’t pay and refuses to return the product, the loss is insured.
If your social media activity accidentally leads to a legal issue, perhaps for breaching copyright or privacy laws, the policy takes care of your legal defence. In addition, if malware from your device infects someone else’s system via a shared network and you’re held responsible, this cover includes legal fees for that as well.
Should confidential or sensitive information from your device or online account be leaked—whether by accident or through a third-party breach—you are protected. Also, if your underage child unintentionally causes a cyber incident that leads to legal consequences, this policy covers the resulting legal defence costs.
Lastly, in cases of cyber extortion, where you're forced to pay money to prevent data leaks or to regain control of your digital access, the insurance reimburses you for the ransom or settlement amount, ensuring you’re not left bearing the burden alone.
This is a useful safeguard against online fraud, which is increasingly common today, especially while traveling, when we are more likely to use public Wi-Fi or rely on foreign mobile networks. In such situations, it becomes an important tool.
“This insurance plan offers financial protection against losses caused by digital fraud. If someone gains unauthorized access to your bank account, credit or debit card, or digital wallet—whether through phishing, spoofing, or any other cyber trickery—and makes transactions without your approval, you will be reimbursed for the money you lost,” says Meet Kapadia, head, travel insurance, Policybazaar.