Cyber insurance generally covers your business' liability for a data breach involving sensitive customer information, such as Social Security numbers, credit card numbers, account numbers, driver's license numbers and health records.
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Get comprehensive protection for your business against technology-based threats — IT infrastructure risks, systems failure, cyber attacks, data breaches, liability, legal costs, and more. Our added benefits include a 24/7 Helpline and free security monitoring.
In 2021, cyber attacks rose by 125%, across almost every industry and country. Also, regulatory penalties have been getting stricter for businesses experiencing data breaches that compromise customer data. Small businesses don’t have the budget for downtime, or legal costs.
The Namecheap + Coalition partnership gives small businesses affordable and transparent cyber insurance, billed annually. Policy pricing will depend on individual factors, like the size of your network. Financial liability coverage also comes with free security tools for prevention.
Who Needs Cyber Insurance?
If your business uses, sends or stores electronic data, you may benefit from cyber insurance. That data, whether it belongs to the business or is sensitive customer information, is vulnerable to cyber-attacks and data breaches; cyber insurance can help with the cost of recovery.
What Is The Average Cost Of Cyber Insurance?
The average annual premium for personal cyber insurance is between $300 and $1,200, depending on the level of coverage and the specific deductible you choose. The average cost of cyber insurance for a business is between $500 and $5,000 per year.