Why Data Breach Coverage is Important for Manufactured Home Community Owners

Our world is becoming more and more digitized and that means more and more of our work is done on a computer. As a manufactured home community owner, you probably have business files, credit reports, tenant’s personal information, and more saved on your computers. When it comes to protecting your community, it doesn’t end in the physical sense. Safeguarding your sensitive data and information, as well as carrying comprehensive coverage in the event of a data breach or cyberattack is a crucial measure to protect your tenants and your business.

What is Data Breach Coverage? 

A data breach can happen in many ways. Malware in forms of trojans, ransomware, spyware, and more, can accidentally be downloaded onto your computer. Data breaches can occur if a disgruntled former employee possesses login credentials or if someone accidentally leaves their computer or files unattended. Data breach insurance protects your business if any Personally Identifiable Information or Protected Health Information is breached and you are held liable for damages or sued.

Why Your Manufactured Home Community Needs Data Breach Coverage

Tenant and Employee Information – If personal information, including social security numbers, bank account logins, and other financial details, land in the wrong hands, your tenants and employees risk having their identity stolen, experiencing unauthorized transactions, and suffering damage to their credit. With Data Breach Coverage, the breach will be investigated and legal action will be taken against those responsible. This coverage can also provide assistance with credit monitoring to get ahead if fraud is attempted. 

Business Reputation – With Data Breach Insurance, you’re able to provide your tenants with resources and services if a breach does occur. If you’re not able to provide these services after a breach, your tenants may not feel safe giving you their personal information and will tell their friends and family about the business practices. 

Financial Protection – If you are found negligent in protecting your tenants and employees data, you could face a lawsuit and have to pay damages. This can be financially crippling for many businesses. Data breach coverage will help mitigate that damage. 

Data Breach Coverage

Tips for Protecting Your Manufactured Home Community from a Cyber Attack 

Train and Educate Employees – Implement training and policies that provide your employees with the tools to identify phishing emails and scams. Ensure that they are trained on how to handle your tenants’ personal information and know they must lock their computer when it is unattended.

Check Your Digital Security – Keeping your computers and software up to date will ensure they have the latest security. Before installing and implementing a new software or program, research the security measures and protocols that the software provides. It is also important to regularly back up your business data, audit your digital security, and monitor activity on your network. 

If you have any questions about Data Breach Insurance and what it covers for your Manufactured Home Community, contact us through our website here.