Coincover Theft Cover provides insurance backed protection incase your cryptocurrency gets stolen
Maintain full control of your assets, passcodes and private keys.
We process all claims as quickly as possible and make pay outs 48 hours of a decision being made.
Prices from as little as 0.75% fund value per year.
No initial deductible to pay in the event of a claim.
Increase and reduce insurance cover as required.
Protect as many wallets as you like within agreed cover limit.
Protect 100+ coins and tokens - whatever you hold with BitGo.
Coincover has partnered with BitGo, market leader in corporate-grade multi-signature wallets to protect your cryptocurrency.
BitGo wallets provide our customers with complete control, secure custody and continued access of their funds.
Choose the level of cover you that fits your cryptocurrency needs.
Select your coverage level and your preferred payment method for immediate cover.
It takes less than a minute to sign up for a Coincover account.
Connect your BitGo wallets, OR create your new Coincover wallet and transfer funds.
Coincover Theft Cover is the first personalinsurance protection for your cryptocurrency.
Insurance backed cover against theft from a range of attacks underwritten by Lloyds of London A-rated insurers.
Protected at all times with early-warning alerts for suspected theft.
We work with you to understand your requirements and recommend the right cover level for you.
It only takes minutes to set up an account to ensure you have a lifetime of key storage and access to funds.
The assurance of having your assets fully protected, allowing you to focus on the opportunities to be had.
Most attacks covered including brute force, cyber, scams, malware, device theft, insider theft and extortion.
We are regulated by the UK Financial Conduct Authority.
Backed by A-rated Lloyds of London insurers we are the first and only company offering insurance backed theft protection for personal, online wallets.
Coincover is available for both consumers as well as businesses. For businesses our protection starts from 0.75% of asset value per annum with flexible levels to meet your specific requirements.
For a personalised quotation, please get in touch.
Theft Cover is an annual plan that protects you against the theft of your cryptocurrency held in an approved wallet. It offers a fiat currency equivalent payment of the cryptocurrency value at the time and date of theft.
All theft and loss of cryptocurrency funds resulting from:
- Proven third-party hacks or theft of private keys including: Brute force attack, cyber attacks, phishing software, malicious software, trojans, worms, hacking, device theft, insider attack, criminal extortion.
- Loss of wallet keys
Any occasion where you or someone on your behalf have sent cryptocurrency to a third party.
Direct physical loss of or damage to any hardware
Failure, breakdown or disruption of the Cryptocurrency Blockchain.
All other exclusions as shown in the Terms & Conditions.
Coincover protects the following currencies:
- Bitcoin Cash
- Bitcoin SV
- XRP (Ripple)
We also currently support 200+ ERC20 standard tokens.
Coincover Comprehensive Cover is underwritten by Lloyd's of London members.
You must own the cryptocurrency assets and they must be held in a BitGo wallet with Coincover.
The most we will pay is the cover level you have selected.
We may pay less if the value of cryptocurrency stolen is below that limit.
Theft Cover offers no excess/deductible facility.
Theft Cover may not be transferred or assigned to any third party without our written agreement.
Theft Cover will not apply if payments are not up to date.
Coincover accepts payments for annual premiums in Bitcoin and monthly subscriptions in US Dollars.
Theft Cover has been specifically designed for people using cryptocurrency who wish to protect their assets from theft. It is available to adults over 18 years of age. Provided customers can demonstrate their ownership of the assets, they are eligible to purchase Theft Cover.
Theft Cover works just like any other personal insurance policy. It provides you with permanent protection and a guaranteed pay out if your cryptocurrency is stolen. You are free to continue using your wallet as you would normally and are not required to notify us of transfers.
With Coincover you maintain 100% direct ownership of your cryptocurrency assets. A BitGo wallet protected by Coincover matches hardware for level of asset ownership with the added protection of insurance and the flexibility of an on-chain hot wallet.
There are no hidden charges and no excess so you will receive a full pay out so long as it does not exceed your cover limit.
After you’ve bought the cover level you require, you must then register your insured wallet addresses with us. This is done in our secure customer portal. To learn more visit our set up guide.
We pay claims to a maximum of the cover limit you chose. The value of the claim is based on the amount of quantity of digital currency stolen and its fiat currency value at the time of theft based on an external valuation provided by coingecko.com.
If you think you have been a victim of a theft you should contact us immediately. Our dedicated team will be waiting to support you.
We will tag the funds as being stolen on the blockchain, we will notify all exchange sand wallet providers and notify relevant authorities.
We investigate all claims thoroughly and aim to process all claims as quickly as possible and make pay outs with 48 hours of a decision being made.
We pay theft cover claims within 48 hours of validating the theft. Claims are paid in US Dollars. The value of the digital currency at the time of theft based on an external valuation.
We offer a series of Cover Levels making it easy to identify how much cover you need, and it is also flexible so that you can move between Cover Levels at anytime to ensure you are only paying for the cover you need.
The Cover Levels available as standard are (GBP £):
Up to 10,000
Up to 25,000
Up to 50,000
Up to 100,000
If you have more than £100,00 in an account or wallet then please contact us for a personalised quotation.
There is no excess or initial deductible to pay.
You must tell us immediately if you suspect your assets have been stolen, and report the theft to the Police.
You must tell us of any circumstances which you think may give rise to a loss in future.
You must take reasonable care of your digital assets as set out in the Terms & Conditions.
You must take reasonable care to give us full, complete and accurate information to the questions we ask.
You must tell us if your circumstances change, and if you wish to vary the amount of cover you have.
You must help us investigate the background and/or causes of any theft and be prepared to share information with us.
We take the calculation of loss extremely seriously and employ a clear and robust process to ensure you are treated fairly. Once we have received your claim we carry out the following steps to calculate the loss:
- We identify the transactions on the relevant blockchains to determine the date and time of the theft and the exact amount of cryptocurrency stolen.
- To calculate the value, we use the fiat currency valuation of the cryptocurrency provided by coingecko.com at the date and time of loss.
- The claim is paid at this value (capped at the agreed cover level) with no excess or initial deductible taken.
We aim to pay out within 48 hrs of a decision being made.
The cover starts once you have paid for your cover and completed your Coincover registration. The registration process includes confirming your identity as well as creating and linking an account or wallet with our approved service provider BitGo. The cover then ends 12 months from the start date
You can protect as many wallets as you like provided they were created with our approved service provider BitGo and you selected Coincover as the back up key holder. The cover level you have selected covers all your wallets collectively.
For example: You have two wallets protected by Coincover Theft Cover – wallet #1 with cryptocurrency valued at £9,000 in it and wallet #2 has a value of £12,000 - with a total value of £21,000.
In this example you would have needed a cover level of £25,000 to cover both wallets. If wallet #1 suffers a theft then we would pay out the £9,000 for that claim and if wallet #2 suffers a theft then we would pay out the £12,000 for that claim. If both wallets were attacked at once, the pay out would be £21,000.
Theft Cover is available globally with the exception of countries or jurisdictions prohibited by the UK or USA governments.