Ecommerce Brands Secure Legacy With High Limit Insurance
Financial Considerations and Cost Implications
The cost of high limit insurance varies depending on several factors, including the size of your business, the industry you operate in, and the specific risks you face. Generally, ecommerce brands can expect to pay a premium for this level of coverage, but the investment is often justified by the potential savings in the event of a claim. For example, cyber liability insurance premiums might range from $1,000 to $7,500 annually for small to medium-sized businesses, but this can be a small price to pay compared to the average cost of a data breach, which was estimated at $4.24 million in 20211.