Data Loss Insurance

Data Loss Insurance

Compare Insurance for Data Loss

Wondering if you should take out insurance for data loss? If you run a business, you’ll almost certainly rely on computer systems in some way. This makes you vulnerable to data breaches and data loss, so it’s important to make sure you have the right protection in place if the worst happens. With Quotezone, you can quickly and easily compare UK electronic data loss insurance policies across multiple providers to help you find a great deal.

What is considered data loss?

Data loss is a particular type of breach, where sensitive data or information is destroyed. Data loss can occur accidentally because of an employee or system error but is increasingly the result of a malicious attack. Organisations can be intentionally hacked through malware, phishing emails or bots. Hackers deliberately steal and delete personal data to commit crimes, steal money or hold businesses to ransom.

Is data loss covered by insurance?

Yes, you can take out a policy that covers your company for any claims and financial losses associated with data loss. Data loss insurance is normally provided as part of a broader cyber insurance policy that covers losses related to cyberattacks including hacking, viruses and data protection breaches.

What does insurance for data loss cover?

Cyber and loss of data insurance normally provides comprehensive cover for costs associated with cyberattacks and other data loss, including:

• Hiring experts to investigate the source of data loss
• Loss of income compensation, including from the effects of reputational damage, if a cyberattack prevents your business from earning its normal income
• Legal fees or costs arising from a claim made against you for breaching data protection regulations
• Repair, replacement or restoration for damage caused to your websites, systems or electronic data by a cyberattack
• Liability protection in the event you accidentally breach the copyright or libel a third party via electronic communications

How can I get cheap data loss insurance?

A great way to find cheap data loss insurance is to shop around and collect quotes from different providers. Because we know this can take a lot of time and effort, we’ve created our free, impartial comparison service to do all that hard work for you. Simply fill in one quick form and we’ll search our database of trusted UK providers for available deals.

As well as shopping around, there are other steps you can take to keep the cost of your premium down, including:

• Ensuring your security solutions, like antivirus software and Multi-Factor authentication systems, are in place and up to date to reduce the risk of a cyberattack being successful
• Implementing regular cybersecurity staff training
• Implementing data backup processes to minimise the impact of data loss and demonstrate your resilience to ransomware attacks

Compare data loss cover with Quotezone

You’re more likely to find competitive data loss insurance deals if you shop around. Use our quick and easy comparison site to compare quotes for UK data loss insurance across trusted providers and secure a great deal today.