With cyberbullying cases on the rise and slow progress in definitive legislation to protect victims, some insurance companies are stepping up to provide individuals and families with coverage after a cyberbullying attack has occurred. But what is cyberbullying insurance, and what does it involve?
What Is Cyberbullying Insurance?
The coverage provided by cyberbullying insurance varies by insurance company and product. In most cases, cyberbullying is covered under a homeowner’s policy with a cyber protection plan covering online fraud, cyber extortion, data breaches and other digital attacks.
Cyber insurance is similar to homeowners' or renters' insurance: It covers you against the cost of repairing the damage. But with cyber insurance, it can protect you from personal injury claims resulting from cyber-specific attacks like an invasion of privacy or slander. Other coverage available through cyber insurance policies would include identity restoration services, legal expenses for lawsuits filed by victims on behalf of themselves or their families or lost wages if the attack led to time off work.
The coverage for cyberbullying is specifically designed to help victims of cyberbullying and typically covers the damages incurred from an attack. This may include mental health counseling, legal protection and legal expenses. Comprehensive coverage may even involve temporary relocation expenses or private tutoring for victims who have been so traumatized by their experiences that they need to move or leave their schools.
When Is Cyberbullying Insurance Right for You?
According to the Pew Research Center, 71 percent of U.S. parents with a child age 11 or younger are concerned that their kid may be spending too much time online. With this time spent online comes the fear that their kids may become victims of cyberbullying and online harassment, which according to research, has been experienced by 44 percent of all internet users.
Many parents whose kids became victims of cyberbullying say they would never have imagined it happening to their kids. The reality is cyberbullying can happen to anyone, regardless of age, ethnicity or gender.
However, ongoing online safety education remains your best defense in protecting your kids from becoming victims of cyberbullying. Remember, cyberbullying insurance only covers the emotional and physical damages once they've occurred, and your children have already suffered from the trauma. Therefore, real protection relies on prevention and your best defense may be to stop cyberbullying from happening in the first place.
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