Can I make an insurance claim for money lost to a scam?
Some insurance policies cover fraud losses — particularly home contents insurance with financial fraud extensions, standalone identity theft policies, and some bank accounts with packaged fraud cover — but many standard policies do not, so check your policy terms carefully.
Last reviewed: 10 June 2026
Explanation
Insurance cover for fraud losses is not universal, but it exists in several forms. Some home contents insurance policies include an extension for 'cyber' or 'financial fraud' cover. Packaged bank accounts (premium accounts with a monthly fee) in the UK often include fraud protection elements. Standalone identity theft insurance policies are available and some credit card products include purchase protection.
Business insurance policies frequently include crime cover or cyber insurance that covers employee-related fraud losses, business email compromise, and social engineering fraud. These are distinct from personal consumer policies.
When making a claim, you will typically need: a crime reference number from police or your fraud authority, full documentation of the loss, evidence that you took reasonable steps to protect yourself, and in some cases evidence that you reported promptly. Insurers may refuse claims if they believe you acted negligently.
This is general information. Policy terms vary enormously and your specific situation will determine whether cover applies. Read your policy documents and speak with your insurer or an insurance broker for advice on your circumstances.
Common red flags
- Your standard home contents policy excludes 'voluntary' payments to third parties
- You have not reported to police (required for most insurance claims for fraud)
- The loss resulted from something your policy specifically excludes (e.g., online gambling losses misrepresented as fraud)
- You delayed reporting significantly — insurers require prompt notification
What to do now
- Check your home contents, bank account, and any standalone insurance policies for fraud cover
- Obtain a crime reference number from your fraud authority before claiming
- Notify your insurer promptly — late notification can invalidate claims
- Document the loss fully and prepare to submit all evidence
- If a claim is refused, escalate to the Financial Ombudsman Service
- Speak to an insurance broker about suitable cover for the future
Frequently asked questions
Does cyber insurance cover individuals or just businesses?
Cyber insurance is available for both. Business cyber insurance is well-established and commonly purchased. Personal cyber insurance (for individuals and households) is a growing product line, sometimes bundled into home contents or sold as a standalone policy. Check what your existing policies include before purchasing additional cover.
If my bank reimburses me, can I also claim on insurance for the same loss?
No — insurance operates on the principle of indemnity: you cannot recover more than your actual loss. If your bank has already reimbursed you, an insurance claim for the same loss would not be payable. You must disclose any recovery already received when claiming.