Personal Cyber Insurance
Protect Your Family's Money And Identity Online
UPI payments, online banking, shopping apps and social media make daily life easier, but they also give fraudsters new ways in. Personal cyber insurance covers individuals and families against financial loss and costs arising from online fraud, identity theft, phishing, malware, cyber bullying and data breaches. MILES helps you compare plans from several insurers, choose a sensible sum insured and understand exactly what you must do after an incident so a claim is not refused on a technicality.
What Personal Cyber Insurance Covers
Unauthorised Transactions
Money lost through fraudulent use of your bank account, card, UPI or wallet after a cyber attack or scam.
Identity Theft
Costs of restoring your identity and credit records, and legal defence, when someone misuses your personal data.
Phishing And Email Spoofing
Loss caused by fake messages, calls or emails that trick you into sharing credentials or sending money.
Cyber Bullying And Stalking
Counselling costs and legal expenses to pursue harassment, stalking or reputational attacks made online.
Malware And Data Restoration
Cost of removing malware and restoring data or software on your personal devices after an attack.
Legal And Privacy Claims
Defence costs if a third party sues you for an unintended privacy or data breach from your devices.
What is personal cyber insurance?
Personal cyber insurance is a policy for individuals and families that pays for financial loss and related costs caused by cyber crime, such as online banking fraud, identity theft, phishing, malware attacks and cyber bullying. It is designed for everyday digital life, not for businesses. Many plans can cover the policyholder, spouse, children and parents under one sum insured.
It sits within our cyber insurance section, alongside the business cyber covers we arrange for companies.
What personal cyber insurance covers
Plans are usually sold as a menu of sections. You choose the ones you need, each with its own limit within the overall sum insured.
- Theft of funds: unauthorised debits from bank accounts, cards, UPI and e-wallets caused by hacking or fraud.
- Identity theft: costs of restoring records, correcting credit reports, legal fees and sometimes lost wages for time off work.
- Phishing and email spoofing: loss suffered after acting on a fraudulent message, subject to the insurer’s conditions.
- Online shopping fraud: payment for goods that never arrive from a fraudulent website, where offered.
- Cyber bullying, stalking and harassment: psychological counselling and legal costs to pursue the offender or remove content.
- Malware and ransomware: costs of cleaning devices and restoring data, and in some plans IT consultant fees.
- Privacy and data breach liability: defence costs if you are sued for accidentally exposing someone else’s personal data.
- Media liability: defence of claims arising from your social media posts, under some plans.
What is not covered
- Losses where you knowingly shared an OTP, PIN or password with a stranger, in many wordings; read this clause carefully.
- Losses not reported to the bank, police or cyber cell within the time set in the policy.
- Money the bank has already refunded to you.
- Business or professional activity, including trading accounts and business devices.
- Losses from cryptocurrency, gambling or investment schemes, unless specifically included.
- Physical theft or damage of the phone or laptop itself, which needs gadget or home insurance cover.
- Acts by family members or incidents before the policy began.
How the sum insured and premium are decided
Personal cyber plans are generally affordable. The premium depends on the sum insured, the sections chosen, the number of family members covered and any deductible. As a starting point, many families look at the balance typically held across savings accounts, credit card limits and wallets, then add a margin for legal and restoration costs. Exact limits, sub-limits and waiting conditions vary by insurer, so we compare them side by side.
Who needs personal cyber cover?
- Anyone who banks, invests or shops online, or uses UPI every day.
- Parents of children and teenagers active on social media and gaming platforms.
- Senior citizens, who are frequent targets of phone and message scams.
- Professionals and high-net-worth families with a larger digital footprint and public profile.
How a claim works
- Contact your bank or card issuer immediately to block the account or card.
- Report the incident on the National Cyber Crime Reporting Portal or through the 1930 helpline, and file a police complaint or FIR if the policy requires one.
- Inform MILES and the insurer within the time limit stated in the policy.
- Keep evidence: screenshots, messages, emails, bank statements and call logs.
- Submit the claim form with the bank’s response and the complaint copy. The insurer assesses the loss after any bank refund.
How MILES helps
- Compare plans: we lay out sections, sub-limits, exclusions and reporting timelines from several insurers.
- Match cover to your family: we suggest which sections matter for children, parents and working members.
- Explain the fine print: we highlight clauses on OTP sharing and reporting deadlines, the usual reasons for rejection.
- Support claims: we guide you through reporting, documents and follow-up with the insurer via our claims team.
Personal data protection is also shaped by the DPDP Act, 2023 and guidance from CERT-In, but insurance remains the practical way to recover money and costs after an incident.
Cover, exclusions and premiums depend on the insurer’s policy wording and underwriting. MILES Insurance Brokers Pvt. Ltd. is an IRDAI-licensed direct broker (Life & General, Reg. No. 954); the insurance is issued by the insurer. Insurance is the subject matter of solicitation.