Insurance for cold storage crypto assets

Several insurers and specialist insurance brokers provide coverage for cryptocurrency held in cold storage (offline wallets or institutional vaults). The main options include Lloyd’s of London underwriting syndicates, Evertas, Marsh, Aon, and specialist custody providers that bundle insurance with storage.

An important distinction: some companies actually underwrite insurance, some arrange policies through insurance markets, and others are crypto custodians whose customers benefit from their insurance.

Leading providers of cold-storage crypto insurance

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1. Lloyd’s of London

(Insurance market)

A major source of underwriting capacity for crypto custody insurance, through specialist syndicates such as Canopius and Arch. Policies can cover defined theft, crime, and physical-loss risks associated with cold storage.

Website:Lloyd’s of London

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2. Evertas

Specializes in insurance for institutional cryptoasset holders and digital-asset businesses. A potential option for bespoke custody and theft coverage, subject to underwriting and policy availability.

Website:Evertas

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3. Marsh

An insurance broker that arranges specialized digital-asset coverage with underwriters. Particularly relevant for institutions seeking large cold-storage or multi-party computation (MPC) custody insurance limits.www.spark.money+1

Website:Marsh

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4. Aon

Arranges insurance programs with specialist underwriters. In June 2025, Crypto.com announced coverage arranged by Aon totaling $120 million, including $100 million for cold storage and $20 million for crime and third-party theft.crypto.com

Website:Aon

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5. AnchorWatch

Offers optional Bitcoin insurance backed by Lloyd’s of London, including solutions for individuals and institutions. Its published terms describe coverage options of up to $100 million per vault, subject to policy conditions. Particularly relevant for Bitcoin self-custody.www.anchorwatch.com+1

Website:AnchorWatch

Custodians that offer insured cold storage

These may be more convenient if you want the insurance and secure storage together rather than buying a standalone policy.

What does cold-storage insurance actually cover?

When comparing providers, focus on the policy wording rather than the headline coverage limit.

• Theft and hacking: Unauthorized access, stolen private keys, and qualifying cyberattacks.
• Insider crime: Employee theft, fraud, or collusion, where included.
• Physical loss: Damage, destruction, or theft involving offline storage infrastructure, where covered.
• Self-custody: Whether the policy insures assets in wallets for which you or your organization retain control of the keys.

Do not assume that every policy covers all four categories. Many custodial policies protect the custodian against specified losses rather than directly insuring every customer's assets. Coverage is also distinct from FDIC or SIPC protection, and ordinary market-price declines are not insured.dag.com+1

My recommendation

• For a business or institutional portfolio: Start with Marsh or Aon to explore a bespoke policy, or approach Evertas directly.
• For Bitcoin held in a personal or business vault: Investigate AnchorWatch if you want insurance designed for self-custody.
• For institutional cold storage with an integrated custodian: Compare Gemini Custody and Crypto.com Custody Trust Company.

One question that will narrow this down considerably: Are you looking to insure crypto you hold yourself in a hardware wallet, or crypto held by a company or institutional custodian? The available insurers and policy structures differ significantly.

Insurance coverage for cryptocurrency assets held in cold storage (offline, air-gapped hardware or private key vault depositories) is typically provided by specialized insurance markets, notably the specie market (which traditionally covers physical high-value assets like fine art, gold bullion, and cash) and specialized digital asset crime/fidelity underwriters.global.lockton.com+1

Because cold storage guards against remote cyberattacks by keeping private keys offline, policies for it focus heavily on physical loss, theft from vaults, employee dishonesty, duress, extortion, and key destruction or damage.marsh.com+2

Key providers and underwriters offering solutions for cold-stored digital assets include:

• Evertas : Operating as a dedicated crypto-focused coverholder at Lloyd's of London, Evertas provides institutional crypto asset insurance with high per-policy limits (reaching up to $420 million) tailored specifically to custody and cold storage risk.spark.money
• Lloyd's of London Syndicates : Various syndicates within the Lloyd's market underwrite digital asset and specie risk. Underwriters like Arch Syndicate 2012, Atrium , and specialty facilities back both direct policies and tech-enabled theft protection (such as integrations with Coincover).reinsurancene.ws+1
• Canopius : Provides specialized Cryptocurrency & Digital Asset Insurance covering exchanges, custodians, and physical loss or damage to private key material and media.canopius.com
• Price Forbes : Acts as a major international broker structuring large-scale digital asset crime and specie coverage (with capacities exceeding $1.2 billion for specie markets) covering cold, warm, and hot wallet infrastructures.priceforbes.com
• Munich Re : Functions as a key global reinsurer backing digital asset infrastructure coverages and policies distributed via insurtech partners (such as OneDegree).reinsurancene.ws
• Marsh (Broker) : While a broker rather than a direct insurer, Marsh structures customized risk-transfer and cold storage insurance placements utilizing the global specie market for digital asset depositories.marsh.com

Note: For large institutional custodians like Coinbase Prime Custody , insurance arrangements are typically custom-brokered through these specialized syndicates and private markets rather than standard off-the-shelf commercial policies.

If you are looking to insure a specific type of holding, let me know:

• Are you looking for institutional custody coverage or individual/private protection?
• What is the approximate value of the assets?

I can provide more tailored details on market availability and limits.

If your crypto is held in cold storage that you control yourself—such as a Ledger or Trezor hardware wallet, or a Bitcoin multisig setup—you have some options for insurance, but the key distinction is whether the policy covers your own wallet or only assets held by a custodian.

The most promising starting point is a specialist Bitcoin insurer, followed by specialist brokers who arrange coverage for larger crypto portfolios. Most traditional insurance policies don't automatically cover self-custodied cryptocurrency, and exchange insurance generally protects the exchange's own risks rather than your personal account.dag.com+2

Providers worth investigating

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1. AnchorWatch — best starting point for Bitcoin

(Strongest direct match)

Offers Bitcoin custody solutions with optional insurance backed by Lloyd's of London. You can retain key control through its Trident vault configurations, but the insurance requires using its vault system; it generally doesn't insure an ordinary standalone hardware wallet. U.S. customers are eligible for its insurance offering.

• Published insurance pricing: approximately 0.6%–0.8% annually, depending on custody setup.
• Minimum insurance limit: $250,000.
• Deductibles: 10% or 25%, according to its FAQ.

Website:anchorwatch.com+2

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2. TokenShield Insurance — worth exploring for larger portfolios

Arranges insurance enquiries through specialist insurance markets for eligible investors, including U.S. clients. Its stated focus includes cold storage, hardware wallets, multisig arrangements, and wallet compromise.

• Advertises services for portfolios of $250,000 or more.
• Coverage is subject to underwriting; a standalone cold wallet is not automatically eligible.

Website:tokenshieldinsurance.com+1

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3. Evertas — for institutional-scale holdings

Offers specialist crypto insurance covering risks across cold, warm, and hot wallets, including certain insider theft and loss scenarios. It's primarily oriented toward businesses and institutional crypto operations, so ask whether it can accommodate your personal holdings or refer you to a suitable broker.

Website:evertas.com/insurance+1

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4. Lloyd's of London — specialist underwriting market

Lloyd's syndicates underwrite crypto-related insurance arranged through providers and brokers. It's a marketplace, not a single insurer you can simply buy a policy from directly. You can approach a specialist intermediary to investigate custom cold-storage coverage.

Website:lloyds.com+2

What should the policy actually cover?

Before purchasing, ask each provider to confirm these points in writing.

Also ask whether the policy covers your existing storage arrangement or requires you to move your assets into an approved vault. Don't assume coverage for an exchange, custodian, or wallet provider extends to you personally.content.naic.org+1

Let me narrow this down for your holdings

The best options depend heavily on your setup. Are you holding Bitcoin only, or a mix of cryptocurrencies?

And are your holdings in a hardware wallet you control yourself (such as Ledger or Trezor), a multisig setup, or institutional custody? I can use that to narrow the list to providers that are more likely to fit your actual situation.