Identity theft is one of the fastest-growing crimes in Canada. From stolen credit card details to hacked personal accounts, cybercriminals are finding new ways to exploit our personal information every day. Fortunately, Canadians now have an extra layer of protection available — personal cyber insurance.
What Is Personal Cyber Insurance?
Personal cyber insurance (sometimes called home cyber protection) helps safeguard individuals and families against digital risks like online fraud, data breaches, and identity theft.
At Gibb Insurance Brokers, we partner with trusted providers like HUB and CyberClan to offer comprehensive coverage and real support when a cyber incident occurs.
While no insurance can prevent identity theft,
personal cyber coverage can significantly minimize its impact.
A personal cyber policy can help you:
- Recover stolen funds from unauthorized online transactions
- Access professional assistance, including legal, forensic, and credit restoration experts
- Cover recovery costs such as replacing IDs or lost wages during investigation
- Monitor the dark web to detect if your personal information is circulating online
- Gain peace of mind knowing you’re not facing cybercrime alone
How Cyber Insurance Helps with Identity Theft
- If your personal information is stolen and used fraudulently, your policy may cover:
- Reimbursement for direct financial losses
- Costs associated with restoring your identity and repairing your credit
- Access to specialists who can guide you through the recovery process
It’s not just about replacing what’s lost — it’s about having an expert team to help you recover faster and protect your future.
Best Ways Canadians Can Protect Themselves Against Identity Theft
Even with insurance, prevention remains the best defence. Here are simple yet effective ways to reduce your risk:
- Use strong, unique passwords — Avoid reusing passwords across multiple sites. Use a password manager if needed.
- Enable multi-factor authentication (MFA) — Adds an extra layer of security beyond passwords.
- Monitor your financial accounts regularly — Watch for unfamiliar transactions or new accounts opened in your name.
- Shred personal documents before disposing of them — Identity thieves can still find sensitive data in your trash or recycling.
- Avoid sharing personal information on social media — Even birthdates and pet names can help criminals guess passwords or security questions.
- Be cautious with public Wi-Fi — Avoid online banking or shopping on unsecured networks.
- Install updates and security software — Keep your devices and antivirus programs current to close vulnerabilities.
- Watch for phishing attempts — Don’t click suspicious links or download attachments from unknown sources.
- Freeze or monitor your credit — In Canada, you can contact Equifax or TransUnion to set alerts or lock your file.
- Review your insurance coverage — Ensure your home or cyber insurance includes identity theft assistance.
Why It Matters
Canadians lose millions each year to online scams and identity theft. The emotional toll and time required to recover can be just as damaging as the financial loss.
A personal cyber insurance policy adds crucial protection by helping you recover quickly — but practicing smart digital habits will always be your first line of defence.
To learn more about protecting yourself from cybercrime and identity theft, visit gibbinsurance.ca/cyber or contact the Gibb Insurance team today. 519-736-8228