WTFinance WTFinance is Cyberbullying Insurance? Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Zina Kumok Modified Apr 5, 2022 2 min read Advertising Disclosure The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. Save more, spend smarter, and make your money go further Sign up for Free When most people think about cyberbullying – or any form of bullying – they tend to think about children and adolescents. But adult cyberbullying is very real, and it can have very real financial consequences. That’s why cyberbullying insurance exists. Let’s take a look at this niche insurance sub-category to get a better sense of when it might be useful. What is Cyberbullying Insurance? Each insurance company is different, but many cyberbullying insurance policies cover legal, mental health and public relations expenses associated with cyberbullying. If you suffer depression or anxiety because of cyberbullying, cyberbullying insurance may pay for visits to a counselor or psychiatrist. If you are falsely accused of cyberbullying, this insurance can pay for specialists to try and fix your online reputation. “Although most insurance policies cover tangible assets, cyberbullying insurance covers more ill-defined dangers, such as deleted online data, tarnished reputations, and emotional consequences resulting from harassment,” said attorney Lyle David Solomon. The monthly premium for a cyberbullying policy depends on how much coverage you’re buying and what the insurance company will cover. You can buy cyberbullying insurance as a separate insurance policy or as an add-on to your existing homeowners insurance. Because this is such a new type of insurance, it’s harder to find cyberbullying policies. For now, start-up companies like Chubb or established insurance companies like Nationwide sell cyberbullying insurance. Do You Need Cyberbullying Insurance? If you’re a public figure, have a large social media following, or have a public-facing job, cyberbullying insurance may give you some peace of mind. But before you spring for a policy, make sure you understand what it includes. For example, some insurance companies sell cyber protection policies. These may only offer extended fraud protection or extra assistance with identity theft. They don’t specifically cover the expenses associated with cyberbullying. Also, you generally need to prove that any financial expenses you incur are directly related to cyberbullying. “For example, if an individual loses his employment due to cyberbullying, this coverage can help him by reimbursing the lost wages up to the policy limits,” Solomon said. In some cases, you may need to pay for cyberbullying-related expenses out of pocket before having them reimbursed by the insurance provider. Make sure your existing insurance coverage doesn’t already cover some of the costs that you may incur. For example, if you already have health insurance, that may cover mental health expenses like therapy or anti-anxiety medication. You should also look at the deductible, which is the amount you have to pay before insurance kicks in. Read through the terms and conditions to see which costs are covered and which aren’t. Save more, spend smarter, and make your money go further Sign up for Free Previous Post WTFinance is Company Valuation? Next Post What to Know About Neobanks Written by Zina Kumok Zina Kumok is a freelance writer specializing in personal finance. A former reporter, she has covered murder trials, the Final Four and everything in between. She has been featured in Lifehacker, DailyWorth and Time. Read about how she paid off $28,000 worth of student loans in three years at Conscious Coins. More from Zina Kumok Visit the website of Zina Kumok. 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