Insureon Blog

Want Data Breach Insurance? Try Putting It in Your BOP

20. March 2015 08:11

data breach concept

Two things are almost always true for small-business owners:

  1. Saving money is a good thing.
  2. Data breaches are a concern.

That first point is kind of a given (especially if your business is still getting off the ground), but the second? Do small businesses really have to worry about data breaches?

Indeed, they do, and here are the numbers to prove it:

Though these figures are alarming, they aren't a death knell. Rather, look at this as an opportunity to start taking your business's cyber security seriously by investing in Cyber Liability Insurance (aka Data Breach Insurance). This policy can help pay for the cost of data breach recovery so it doesn't come out of your pocket. Learn more about what this policy can do in "Analysis Shows Less than 3% of Small Businesses Have Cyber Liability Insurance."

If you're in super sleuth mode today, you might be putting the pieces together now: there is a way to save money on your Cyber Liability coverage. Simply bundle it with your Business Owner's Policy (BOP). Here's how.

BOPs: Get a Bundle, Save a Bundle

If you own a very small business, you may be eligible for a Business Owner's Policy. To keep costs down, this policy is only available to businesses with small commercial premises, low-risk profiles, and small staffs.

What happens when you make the cut? You have access to all things BOP, which is an insurance package that cuts premiums by bundling certain coverages together. A standard BOP offers you…

The other nice thing about a BOP? You can customize your policy by adding endorsements. In most cases, you can add Cyber Liability Insurance to your bundle to reduce your overall insurance spending.

For insureon's online application, you must select the BOP or General Liability + Property Insurance option in order to see the Cyber Liability option. Give it a try to find out how much you can save on these essential policies.

Tags:

Business Owner's Policy | Cyber Risk Insurance | Data Breach | Insurance News | Insurance Savings Tips | Risk Management | Small Business | Small Business Risk Management | Tips for All Small Businesses

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