For content creators, the fear of getting hacked and losing access to your account is a real concern. Well, Israeli startup Notch has a solution for that with its Instagram insurance policies, according to TechCrunch.
With policies starting at $8 a month, Notch will provide Instagram account insurance for creators. For those with insurance, if your account is hacked and you lose access, Notch will pay you a stipend and help regain control of the account.
TechCrunch tested a sample Instagram insurance policy that is quoted at a $459 annual fee. The insurance will pay the creator $244 for each day they cannot get into their account after a hack. Additionally, it’s important to note that the reimbursements don’t start until after a 48-hour waiting period. Reimbursements can max out at $22,000 worth of payments per year. Notch will take various metrics into account when coming up with a policy for the creator.
Analytics help determine your policy
Notch takes a look at follower count, engagement, audience geographics, sponsored posts, and more when determining the right policy for an Instagram creator. The company uses the information to estimate how much money the creator makes off of each post. With this, Notch can calculate a monthly fee for Instagram insurance coverage.
Instagram insurance only covers hacks
A key feature of the policy is that it only covers hacks. Some creators, especially those from marginalized communities, face targeted harassment on Instagram, which sometimes means that bad actors will mass-report their account for no reason, causing them to get banned or suspended. In these cases, whether a ban is deserved or not, Notch will not cover a creator’s loss of income.
Content creators eligible for Instagram insurance will need to have multi-factor authentication (MFA) turned on.
Notch is not affiliated with Instagram and has only just launched this month. There hasn’t been any real-world examples to look at yet. However, for those whose Instagram account pays the bills, having coverage may be worthwhile to you.