By the General Liability Guide Editorial Team. Our guides are verified against actual insurance carrier rate sheets and state industrial commissions.
Hackers aren't just targeting Google and Apple anymore. They are targeting local dentists, law firms, and e-commerce shops because their security is often weaker.
What Cyber Insurance Actually Pays For
- Data Recovery: Restoring your systems after a wipe.
- Notification Costs: Legally notifying your customers about the breach.
- Extortion: Sometimes paying the ransom to get your data back (though discouraged).
- Legal Defense: Defending you if customers sue for data negligence.
A basic cyber policy for a small LLC costs as little as $500/year but can save a business from a $200,000 breach expense.
Frequently Asked Questions
Yes. Most Cloud providers have limited liability for your data loss. You are still responsible for the legal fallout of a breach.
About This Guide
This guide was researched and written by the General Liability Guide editorial team to help business owners navigate the complexities of commercial insurance. We use data from industry leaders and regulatory filings to provide the most accurate estimates possible.