If you get something really valuable like a house or a car, you take out an insurance policy on it. It ensures that, if things go wrong, you’d be covered financially. So, why not take out an insurance policy on your Instagram account?
Yes! Thanks to a new service called Notch, you can actually take out an insurance policy on your Instagram account. It might sound a bit nonsensical, but there’s some solid reasoning behind the company’s existence.
How taking out insurance on your Instagram account works
Most of the people reading this use their Instagram accounts to catalog their trips or to share funny memes with some close friends and followers. And there’s nothing wrong with that, as that’s what the app was intended for.
However, there are people out there whose careers are built on sending pics and vids. People make a living off of their Reels and sponsored posts. If you make a living off of Instagram, and your accounts get hacked, then you’re in for some tough times. Suddenly, your entire career is in the hands of another person.
The service works like a normal insurance policy. For starters, plans start at an $8 service fee (think of that as your premium). However, the fee will vary depending on the nature of your account. Depending on your account, you could wind up paying more. TechCrunch was quoted to pay $38/month.
Then, if your account gets hacked or banned, Notch will help provide you with monetary compensation and help you recover the account. The company, after 48 hours, will give you daily payouts until your account is retrieved. Again, the amount you get per day depends on your account. TechCrunch was quoted to receive $244/day.
As for other perks of this service, Notch will actually notify you if your account gets hacked. Then, the company will work to get the account back. It seems like a really good service, and it was able to get high marks from TechCrunch, Business Insider, The Information, and NADDAILY.