Amazon and Flipkart’s Republic Day Sales for 2026 are now live, bringing in millions of shoppers with deep discounts on smartphones, laptops, televisions, fashion, and home appliances. With offers up to 80 percent off and heavy promotions on Apple iPhones, Samsung Galaxy devices, and budget mobiles, the annual sale is one of the busiest online shopping periods in India. While prime-only deals, bank cashbacks, and easy Equated Monthly Instalments (EMIs) push more buyers to spend online, experts warn that this surge in traffic also attracts scammers, fake websites, fake promotions on Instagram and phishing attacks. Republic Day sales are a high-risk season for online fraud.
"Fraudsters take advantage of the shopping frenzy to launch phishing attacks, fake websites, and payment scams. This is where a cyber insurance policy becomes a valuable shield for individuals," says Amarnath Saxena, Chief Technical Officer- Commercial, Bajaj General Insurance Limited (formerly known as Bajaj Allianz General Insurance Company Limited).
A cyber insurance policy can be a key shield during this time. It safeguards individuals against financial losses from online risks, including unauthorised transactions, identity theft, phishing, cyber extortion, and data breaches. If your credit or debit card details are compromised and used for fraudulent online purchases or transfers, the policy can reimburse the amount lost, subject to its terms and conditions.
"Cyber insurance covers losses arising from non-delivery of goods, fraudulent transactions, and unauthorised payments triggered by deceptive sale offers, while also supporting recovery after a single misplaced click on a malicious link," says Ankit Gupta, Business Head - Cyber Insurance at Policybazaar for Business.
However, cyber insurance does not cover losses resulting from voluntary disclosures or human negligence, such as knowingly sharing OTPs, PINs, passwords, or approving suspicious transactions despite warnings, said Gupta.
"In an environment in which AI-driven scams and hyper-realistic fake storefronts are at an all-time high, cyber insurance is fast becoming the modern parent’s must-have companion, protecting not just money, but digital dignity and peace of mind," Gupta adds.
While cyber insurance covers financial losses, it can also provide coverage for data restoration and psychological support. Understanding the scope of coverage, sum insured limit, policy exclusions, and the claim reporting process can save time and stress if an incident occurs.
What you must do
To benefit from this protection, take prompt action if you notice any suspicious activity. Inform your bank immediately and block the compromised card to stop further misuse. File a complaint on the government’s cybercrime portal or at the local police station, and notify your insurer within the timeframe specified in your policy, usually within 24 to 48 hours of discovering the loss.
Ways to protect yourself before it's too late
While prevention is the best defense, avoid using public Wi-Fi for financial transactions. Double-check website URLs before entering payment details, and do not click on promotional links from unknown sources. Use strong passwords, keep your devices up to date, and enable multi-factor authentication for online accounts. For debit and credit cards, set daily and per-transaction limits to protect yourself financially.
"It is advisable to set credit card limits very low. When you want to use your card for a higher spend, just log into your bank’s or card issuer’s App and increase the limit within a few seconds. Once your transaction is complete, you can set your limit back to the initial lower amount. Keep the international transactions option disabled when you are not travelling or using it abroad," said Saxena.
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