Do you have smart insurance for your smart phones?

When people think of insurance for their smart phone, the first thought usually is how much is the deductible and how much is my phone worth? In the end the choice is yours, but more often than not, the answer is probably no:

  • Most deductibles are $500 or more
  • If you do file a claim, your premiums could go up and that will end up costing you more money in the long run.

Of course, if you are someone that has multiple gadgets and loves to get the latest and greatest right when it’s released, then you should consider getting insurance.

However, if you own a small business you might be at more risk than you realize.

The risk isn’t from having to replace broken phones. It comes from cyber crime. Most smart phones are just that… smart. In other words, they have the ability to connect to a wide variety of information.

Personal information is sold on the black market more and more. Identity theft could happen just by having the name, birthday and address. If you have this type of customer information in your contacts, then that data can be sold. Can you imagine the cost of a lawsuit if your customers’ personal information is sold because someone in your company lost their smart phone?

Of course, cyber liability insurance protects you from more than that. Contact us today to see if your business is covered should a security breach, stolen data or a lawsuit occur.

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