Would You Pay A Small Monthly Fee For Social Media Insurance?

Identity theft and other nefarious online deeds are the bane of any social media user’s existence. We’re all a little afraid of someone stealing our passwords, messing with our social profiles and possibly even taking control of our online banking and bills.

A company in the UK has noticed this fear of being hacked among social media users, and is now offering insurance against digital criminals at a cost of £3.99 per month. Would you pay?

It’s no secret that people do get their information stolen online. Just this morning we wrote about all of the security breaches across social media in the past year. Passwords get stolen, accounts get hacked and users get major headaches trying to clean up the mess.

But is insurance the answer?

According to the Daily Mail, one insurance company thinks so.

ALLOW, a UK-based data protection firm, is now offering social media insurance for £3.99 a month.

This insurance gets you legal advice should your account be breached, information about how your data is being used (or abused) by marketing companies, the ability to opt out of various data-mining services, and ALLOW will even disable your social profiles if they detect suspicious activity.

There have certainly been situations where people’s identity was stolen because of their social profiles. Having too simple a password on Facebook and Twitter or tweeting information like your mother’s maiden name and you first pet’s name are things that far too many of us have done in the past.

But do you think insurance would give you peace of mind against potential identity theft and hacking attempts on your Facebook and Twitter accounts? And is it worth the price tag?

Let us know if you’d consider social media insurance in the comments below.

(Insurance concept image via Shutterstock)