Cyber Insurance Transforms Small Business Security Strategy Instantly
Financial Benefits and Cost Considerations
The cost of cyber insurance varies depending on factors such as the size of your business, industry, and level of coverage required. On average, small businesses can expect to pay between $1,000 and $7,500 annually for a cyber insurance policy1. While this may seem like a significant investment, the potential savings from avoiding the high costs associated with a data breach or cyberattack can far outweigh the premium expenses.
Additionally, some insurers offer discounts or bundled packages that include other types of business insurance, providing cost-effective solutions for comprehensive coverage. By comparing different policies and providers, you can find a plan that fits your budget while offering robust protection.