Cyber insurance: what it covers, what it costs and who needs it

In everyday use, yes. Cyber insurance, cybersecurity insurance and cyber security insurance are three spellings of the same policy, and “cyber liability insurance” is often used for it too. Insurers and writers use the names interchangeably, so the label matters less than the wording: which events are covered, the limit, the exclusions and the conditions.

The UK National Cyber Security Centre (2020) says cyber insurance can help an organisation get back on its feet if something cyber-related goes wrong, and that it will not prevent a breach or an attack. It is the money side of an incident, not protection against one.

Cyber insurance pays for the money side of a cyber incident, up to the limit and under the terms of the policy. Policies split losses in two groups: own-loss cover, for what you lose directly, and liability cover, for when someone else claims against you because of a cyber event.

Every Syba plan covers identity theft, cyber ransomware and extortion, online fraud and cyber crime, cyber bullying and counseling, and cyber breach events with data recovery. Higher plans add cyber security and privacy liability, third-party cyber liability, cryptocurrency cover and single-member LLC cover. Each line responds under the terms of the issued policy.

Money a person chooses to send, even to a scammer, may not be covered. The coverage page shows, for every line, one example that is covered and one that is not. The final word always belongs to the issued policy, never to a marketing page.

Match the policy to who takes the loss. A company needs business cyber insurance when an attack could stop its systems, expose customer data or trigger a claim against it. A person or household needs personal cyber insurance when the loss lands at home: a drained account, a stolen identity, ransomware on the family computer.

Syba sells personal plans online. For a company, the For companies page finds the right product for staff, directors or AI agents, with a call for the rest. If you also run a one-person company from home, the higher personal plans add single-member LLC cover.

Syba personal plans run from $49 to $2,250 a month, with $250K to $5M of cover. Pay monthly or yearly and cancel any time. The table shows every plan with its cover and its monthly price.

Business cyber insurance usually has no list price: it is priced per company, from a quote. Region: Syba’s United States and European plans are priced and limited separately.

Anyone whose money, identity or work lives online and who could not absorb the loss: households with online banking, people who hold cryptocurrency, anyone who runs a one-person business from home, families with children online, and older adults targeted by phone and text scams.

The losses are common. The FBI Internet Crime Complaint Center (2026) received 1,008,597 complaints in 2025 and recorded $20.877 billion in reported losses. Those are the cases people reported to one US agency, so they show the scale rather than the full total.

Companies are the main buyers today. The UK government’s Cyber Security Breaches Survey (Department for Science, Innovation and Technology, 2025) found that 45% of businesses reported being insured against cyber security risks in some way, and just 7% held a policy written specifically for cyber risk.

Start with what you already have. The National Cyber Security Centre (2020) advises checking whether existing policies, such as property or business interruption cover, include some cyber cover or exclude it, and reading the policy or asking the insurer or broker.

A personal cyber plan adds a person to call. Syba pairs the cover with a 24/7 cyber team you can call about a strange email, text or caller, a browser agent that flags fake sites, alerts when your email addresses show up in a data breach, and five minutes of training a month.

Silver covers a single household. The upper plans cover the complete family or household, single-member LLCs and household staff, at home and while traveling.

Yes. Syba sells it to older adults and to the grown children who look out for them. In the United States the senior and family plan is $29 a month for each person, with up to $250K of cyber cover each, a 24/7 cyber team to call and a browser agent that flags fake sites. You pick who is covered, add their emails and pay once.

The risk is real. The FBI Internet Crime Complaint Center (2026) received 201,266 complaints from people aged 60 and over in 2025, with $7.75 billion in reported losses, up 59% on 2024. The same report puts the average loss per complaint at $38,500.

One limit matters. Money a person chooses to send, even to a scammer, may not be covered. That is why the most valuable part of Syba is the call before the payment. A second opinion costs nothing. A wire transfer is very hard to get back.

You file the claim once. One person takes ownership from the report to the outcome, gathers the evidence and documents for the carrier, and the outcome is confirmed in writing.

Carriers pay covered claims. Syba runs the response. A licensed broker places the policy. In the United States that broker is EPIC Insurance Brokers & Consultants.

Read five things before you buy. The same questions work for a household and for a company.

• The limit: the most the policy pays for one event or one year.

• The covered events: ransomware, fraud, identity theft, data recovery, liability.

• The exclusions: what the policy says it will not pay for.

• The conditions: what must be in place for a claim to be paid or the policy renewed.

• The help: who you call, and whether a person works the case with you.

• Is cyber insurance the same as cybersecurity insurance?

  In everyday use, yes. Cyber insurance, cybersecurity insurance and cyber security insurance name the same kind of policy, which pays covered losses after a cyber incident. Compare the wording of the policy, not the label.

• What does cyber insurance not cover?

  It does not stop an attack, and it does not cover everything. Money a person chooses to send, even to a scammer, may not be covered. Every policy lists its exclusions, so read them before you buy. Each Syba line responds under the terms of the issued policy.

• Does home insurance already cover cyber losses?

  Sometimes in part. The National Cyber Security Centre (2020) advises checking whether existing policies, such as property or business interruption cover, include some cyber cover or exclude it, and reading the policy or asking the insurer or broker.

• Will cyber insurance repay money I sent a scammer myself?

  Not by default. A payment you chose to make yourself is usually outside cover. Read the fraud wording of any policy, and ask what counts as a covered event before you buy.

• How much does personal cyber insurance cost?

  Syba personal plans run from $49 to $2,250 a month, with $250K to $5M of cover. In the United States the senior and family plan is $29 a month for each person. Cancel any time.

• Who pays a cyber insurance claim?

  Carriers pay covered claims. Syba runs the response. A licensed broker places the policy.

• Is there cyber insurance for seniors?

  Yes. In the United States the Syba senior and family plan is $29 a month for each person, with up to $250K of cover each and a 24/7 cyber team to call. Money a person chooses to send, even to a scammer, may not be covered, so the call before the payment matters most.

• Do I still need security if I have cyber insurance?

  Yes. The National Cyber Security Centre (2020) is direct that cyber insurance will not prevent a breach or an attack. Insurers often ask about your security habits before they cover you. Syba pairs its cover with a 24/7 cyber team, a security app and training.

• Cyber insurance guidance

  National Cyber Security Centre (UK), 2020

• Cyber security breaches survey 2025

  UK Department for Science, Innovation and Technology, 2025

• 2025 IC3 Annual Report

  FBI Internet Crime Complaint Center (IC3), 2026

• Personal cyber insurance

  What Syba’s household cover pays for and who it is for.

• Cyber insurance for seniors

  Scam protection for older adults, set up together with their grown children.

• Cyber insurance for families

  Monitoring, a 24/7 help desk and cover for the whole household.

• Pricing

  Every plan with its monthly price and limit.

• What Personal Guard covers

  Each coverage line with a covered and a not-covered example.

• How claims work

  What happens from the report to the written outcome.

• Cyber insurance guides

  Plain answers on cost, cover, claims and the glossary.

• Cyber insurance for companies

  The right Syba product for staff, directors or AI agents.