Home Cyber Protection
Learn more about cyber security solutions
Frequently Asked Questions
What coverages are included?
Home Cyber Protection Coverage includes:
- Payments to recover data that has been lost and restore systems that have been damaged due to a cyber-attack - including attacks involving malware or the unauthorized use of owned or leased computers, mobile devices and connected home devices.
- Professional assistance in responding to cyber extortion demands based on credible threats to damage, disable, deny access to or disseminate content from devices, systems or data.
- Online fraud protection that results in a direct financial loss to a covered policyholder.
What activities put you at the highest risk for a cyber-attack?
Cyber criminals often exploit well-known vulnerabilities, according to a 2017 Data Breach Investigations Report published by ICT Security Magazine.
- 81 percent of cyber-attacks leverage weak and/or stolen passwords
- 62 percent of cyber-attacks involved hacking
- 51 percent of cyber-attacks involved the use of malware
- 66 percent of malware attacks were through malicious email attachments
What limits and deductible options are available?
Coverage limit options of $25,000 and $50,000 per policy annual aggregate limit. The deductible is $500 per occurrence.
How are claims handled?
Claims should be submitted to Mercury by calling (800) 503-3724 or contacting your Mercury Insurance agent.
What's an example of a cyber-attack claim?
You open a file in an email and a virus is unleashed. The virus infected the computer forcing you to hire an outside expert to reformat the hard drive, reinstall the operating system, along with all of the software, and restore the backup data. Total covered paid loss: $1,200 after a $500 deductible.
What's an example of a cyber extortion claim?
You receive a ransom note on a computer after noticing your files are locked. The email informs you that the files were encrypted and that in order to obtain the encryption key, you need to pay $2,000. You’re warned that if you fail to pay within a week, the price for the key will go up to $3,000. The decryption key would then be destroyed and any chance of accessing locked files would be lost. You consult with your insurance carrier, and they determine that the threat is credible; a payment was advised. Total covered paid loss: $1,500 after a $500 deductible.
What's an example of an online fraud claim?
You receive an email from a relative that he has been in an accident and faced possible criminal charges. His “lawyer” says a $1,950 wire transfer to Trinidad could clear up the entire matter, but after the first transfer, wants more money. Total covered paid loss: $1,450 after $500 deductible.
When is coverage triggered?
Depending on the coverage element, coverage can be triggered by the discovery of a cyber-attack, cyber extortion threat or fraud event. It is a requirement that the triggering event be discovered during the policy period and reported within 60 days. Certain exclusions may apply as described in the policy.
Can coverage be added at any time?
Yes, coverage can be added at any point to an existing homeowners, condo, or renters insurance policy. Simply contact your Mercury agent and let them know that you would like to add Mercury Insurance Home Cyber Protection Coverage.
Who is most vulnerable to a cyber-attack?
If you use technology in your daily life, such as computers, mobile devices, smart technology (i.e., appliances and devices) and for your home systems, you are at risk. Cyber criminals are increasingly looking to take advantage of frequent users with a lot of technology in their lives - as they tend to be the most vulnerable.
What is the financial impact of a cyber-attack on a consumer?
In a recent study conducted by Hartford Steam Boiler, cyber-attack victims frequently had to take these actions:
- 48% spent money on restoration of data, while;
- 43% purchased new software, and;
- 24% needed to purchase new hardware.
How can a cybercriminal gain access to your information?
- Phishing: Cyber criminals can send emails that appear to be from trusted retailers or financial institutions asking you to update personal information and/or passwords.
- Deceptive websites: Criminals can create fraudulent websites to trick you into sharing personal information and/or passwords.