Cyber protection while a individual is on their laptop.
Cyber Liability Insurance
Gain protection against cyberattacks and data breaches.
Get advice tailored for tech entrepreneurs.
24 hrs
Access proof of insurance anytime.

How much does cyber liability insurance cost?

Cyber liability insurance protects tech companies against the high costs of data breaches and cyberattacks. The cost of your policy is determined by factors such as the type and amount of sensitive information your business handles.

Median cost of cyber liability insurance for tech companies

For TechInsurance customers, the median cost of cyber liability insurance is $145 per month or $1,743 per year. The median better illustrates what you can expect to pay, since the average values include high and low extremes.

Many small businesses (39%) pay less than $1,500 per year for cyber liability insurance, and 41% pay between $1,500 and $3,000 per year.

Cost of cyber liability insurance for tech businesses.

How policy limits affect insurance costs

The higher you raise your policy limit, the more you’ll end up spending on cyber liability insurance.

Policy limits often include both a per occurrence limit and an aggregate limit. The occurrence limit is the amount an insurer will pay to cover a single claim. The aggregate limit is the amount an insurer will pay during the lifetime of a policy (usually one year).

Cyber liability policies have limits that range from $1 million to $5 million or more. If you choose a cyber liability policy with a higher coverage limit, expect to pay more since the cost of a policy is directly related to the maximum amount that policy covers.

Learn how much cyber liability insurance you need.

Tips for saving money on cyber liability insurance

Pay your annual premium upfront. You can usually pay your premium in monthly or annual installments. While it might be tempting to pay lower monthly premiums, consider paying the entire annual premium upfront. Many insurers offer discounts for businesses who pay this way.

Manage your business risks. If your business has no claims history, you’ll likely pay lower insurance rates. An effective way to reduce claims is to create a comprehensive cyber risk management plan. For example, you might:

  • Routinely change account passwords
  • Invest in secure equipment and software
  • Develop a thorough cybersecurity training program for employees
  • Create procedure checklists and reviews

Learn more about startup business insurance costs

Not a tech business? We have you covered.

Find the right policy with insurance quotes from leading providers.
Powered by Insureon.
We partner with trusted A-rated insurance companies