A guide to Bitcoin insurance for high net worth holders with $500K+ in BTC — specialized providers, coverage costs, what is and is not insurable, and how to build a complete coverage strategy.
Standard homeowners insurance does not cover Bitcoin. Standard crypto exchange insurance covers exchange hacks, not your personal holdings. For high net worth Bitcoin holders — anyone with more than $500,000 in Bitcoin — the gap between what you have and what is covered can be catastrophic.
This guide is specifically for holders with significant Bitcoin positions. We cover what coverage exists, which providers serve this market, how much coverage costs, and the specific risks that remain uninsurable.
Most homeowners policies include a rider for "money and securities" that might cover $1,000-$5,000 in crypto. Some insurers have updated their policies to cover up to $10,000-$25,000 in digital assets.
If you hold $1,000,000 in Bitcoin, you have a $975,000 coverage gap.
The fundamental problem: traditional insurance was built around physical assets and documented ownership. Bitcoin's borderless, pseudonymous nature creates underwriting challenges that standard policies were never designed to address.
Anchorwatch is the only insurer that covers Bitcoin held in self-custody at scale. Most other providers require custodian-managed storage. Anchorwatch uses a multisig custody model (Trident Vault) and provides insurance coverage up to $100 million per vault.
The coverage includes:
Anchorwatch's model is unique: they underwrite custody they also manage. You use their Trident Vault system, and coverage is built in. Annual premiums typically run 0.3-0.6% of covered value — so $1,000,000 in coverage costs $3,000-$6,000 per year.
Coincover partners with exchanges, custodians, and businesses to provide insurance coverage for Bitcoin held on platforms. For individual holders with exchange balances exceeding exchange-provided insurance limits, Coincover can bridge the gap.
Coincover also offers a personal "wallet protection" product that covers Bitcoin held in software wallets against certain loss events. However, coverage limits and terms for individual holders are more limited than their institutional products.
For very large positions ($5M+), Lloyd's of London syndicates provide bespoke coverage. Syndicates like Beazley and Evertas underwrite specialized crypto coverage for institutional and ultra-high net worth clients.
Lloyd's coverage is the gold standard for large Bitcoin holdings:
Access to Lloyd's syndicate coverage typically requires working through a specialized broker. Premiums are negotiated individually based on custody setup, geographic risk, and operational security practices.
Evertas focuses on institutional and high net worth clients. Their policies cover mining operations, exchanges, fund managers, and individual holders with large positions. Evertas is known for conducting thorough operational security audits before underwriting — which actually helps policyholders improve their security practices as a precondition of coverage.
| Coverage Amount | Provider | Annual Premium (Approx.) |
|---|---|---|
| $500,000 | Anchorwatch | $1,500-$3,000 |
| $1,000,000 | Anchorwatch | $3,000-$6,000 |
| $2,000,000 | Anchorwatch / Coincover | $6,000-$14,000 |
| $5,000,000+ | Lloyd's / Evertas | $15,000-$35,000 |
| $25,000,000+ | Bespoke syndicate | Negotiated |
Premiums vary significantly based on custody model. Cold storage with multisig in multiple geographic locations gets better rates than hot wallet storage.
Before signing a policy, get clear answers on:
What custody model is required? Some policies require approved custodians. If you hold your own keys, confirm your self-custody setup qualifies.
What events are covered? Theft, hacking, and key loss are common. Confirm whether the policy covers:
What is the claims process? With traditional insurance, you show a police report and receipts. Bitcoin claims require demonstrating ownership (proving the coins were yours) and loss (proving they are gone). Understand the documentation requirements before you need to file.
Is Bitcoin valued at loss or at claim time? Bitcoin's price volatility makes this critical. A policy that reimburses at loss date may pay out at a different value than current market.
Are there geographic exclusions? Some policies exclude losses occurring in certain jurisdictions.
Honesty about gaps matters. The following are generally not covered by any insurer:
Regulatory seizure: No insurer covers Bitcoin confiscated by governments or regulatory agencies. If your exchange is shut down and assets frozen, standard insurance does not help.
Protocol-level events: Bugs in Bitcoin's code, hard forks, or consensus-layer failures are not covered.
Your own forgetting: If you lose your seed phrase through poor record keeping, coverage is limited or excluded. Insurers require proof of loss through a covered event, not negligence.
Inheritance-related loss: Bitcoin lost because heirs cannot access wallets after your death is not typically a covered insurance event. This is a planning problem, not an insurance problem.
Market price loss: Insurance covers Bitcoin loss, not Bitcoin devaluation. If Bitcoin drops 80%, no policy covers that.
Quality Bitcoin insurance providers require operational security audits before underwriting. This is actually a feature, not a barrier. Companies like Evertas will send specialists to review:
Passing this audit not only qualifies you for insurance but meaningfully reduces your risk of loss in the first place.
For a $2,000,000 Bitcoin position, a comprehensive approach:
Does my homeowners insurance cover $500,000 in Bitcoin? Almost certainly not. Most homeowners policies cap crypto coverage at $1,000-$25,000. Contact your insurer for specifics, then seek specialized Bitcoin insurance for amounts above that threshold.
What is the best Bitcoin insurance for self-custody? Anchorwatch is the leading option for self-custody insurance at scale. Their Trident Vault product includes insurance as part of the custody model.
Can I insure Bitcoin held in a Bitcoin IRA? Bitcoin held in a regulated IRA custodian's vault is covered by the custodian's institutional policies. Check your custodian's coverage limits directly.
Does Bitcoin insurance cover losses on exchanges? Most specialized policies cover your personal custody. Exchange-held Bitcoin is typically covered (up to limits) by the exchange's own insurance, not your personal policy.
How do I prove I owned Bitcoin that was stolen? Insurers typically require blockchain transaction records showing funds moving to your addresses, wallet software records, and documentation of your custody setup. Work with your insurer before a loss to ensure your documentation would support a claim.
Get our free Beginners Guide to Buying Bitcoin plus weekly insights for long-term holders.
Exchange insurance limits are aggregate policies that cover only a fraction of customer losses — and they exclude insolvency. This guide breaks down exactly what is covered at Coinbase, Gemini, and other major exchanges.
How to protect your Bitcoin from house fires, floods, and natural disasters. Steel seed backups, geographic distribution, safe deposit boxes, and disaster-proof setup guides.
Discover the best Bitcoin hardware wallet insurance options for self-custody in 2026. Learn what is and isn't covered, documentation requirements, and how to protect your Bitcoin holdings.