Installation Business Insurance
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Cyber insurance for installation professionals

Cyber insurance protects your installation business from costs related to a data breach or malicious software attack. It's sometimes referred to as cyber liability insurance or cybersecurity insurance.

Cyber insurance provides financial protection against data breaches

When your business stores customer credit card numbers, or even email addresses, it opens itself to risk. A hacker could illegally access the data to commit funds transfer fraud or make purchases using someone else's credit card. They could also send phishing emails to your customers in an attempt to get them to reveal financial information.

Data breaches can happen by accident, too. For example, an employee could misplace a thumb drive, or rely on outdated software with known vulnerabilities.

In the event of a cyber crime, your business is responsible for notifying all affected customers and taking on other responsibilities, depending on the data breach laws in your state. The costs of responding to a data breach can add up quickly, which is why you need cyber insurance.

Which cyber liability insurance policy do installation businesses need?

There are a couple kinds of cyber insurance, but most installation businesses only need one. Data breach insurance, also called first-party cyber liability insurance coverage, protects against the costs of data breaches and cyber incidents at your business.

This policy can help pay for legal costs, incident response, and regulatory fines, as well as:

  • Notifying customers of personal information exposure
  • Credit monitoring services for affected customers
  • Cyber extortion demands
  • Data breach investigations
  • A public relations campaign to restore your company's image
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What does cyber insurance cover for installation businesses?

Cyber coverage helps installation businesses recover reputational and financial losses quickly when someone outside your company gains access to sensitive information, or might have gained access to your computer systems.

Here are a few examples of incidents where cyber insurance would cover costs:

  • Accidental data breaches
  • Ransomware attacks
  • Social engineering attacks, like phishing

Accidental data breaches

Accidental data breaches are among the biggest cyber risks for small businesses. Misconfigured software settings can result in vulnerabilities that leave personal information unencrypted, or an employee could misplace a laptop with sensitive data on it.

When a security breach exposes personal information, cyber insurance will help pay for the cost of notifying affected customers and conducting an investigation to find out what caused the breach.

Ransomware attacks

Ransomware is a type of malware that takes your files hostage in return for a ransom. It's a big problem for small businesses, since they typically have weaker cybersecurity and a business interruption of this scale could be financially devastating.

If your installation business is hit with a ransomware attack, your cyber liability policy can help pay the ransom so you can get your data back. It'll also cover the cost of figuring out how the attack happened, so you can prevent future cyberattacks.


Phishing emails sent to employees can trick them into revealing personal information, such as passwords to online accounts. They often mimic a trusted entity, such as your business, a manager, or a popular website.

If one of your employees clicks on a link in a phishing email, or downloads an attachment from an unknown source, the network security of your system could be compromised. Cyber insurance will help your business pay any resulting costs, but the best method is to educate your employees to prevent these incidents from happening in the first place.

How much does cyber insurance cost for installation professionals?

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Installation professionals pay an average of $145 per month for cyber insurance.

Premium costs for installation professionals and contractors insurance are based on a few factors that insurance providers look at during underwriting, including:

Other important policies for installers to consider

A cyber insurance policy protects against cyber threats, but you'll need additional coverage for injuries, property damage, and other common risks for a complete risk management plan. Other policies that installation companies purchase include:

General liability insurance: This policy covers expenses related to accidental customer injuries and property damage, such as damage to a hardwood floor caused by an appliance installation.

Business owner's policy (BOP): A BOP bundles general liability coverage with commercial property insurance at a discount. It protects against common accidents and business property damage.

Workers’ compensation insurance: Workers’ comp helps pay for medical expenses from work-related injuries and illnesses. This policy is required in most states for businesses that have employees. It also protects sole proprietors from work injury costs that personal healthcare insurance might deny.

Commercial auto insurance: This policy covers legal fees, medical bills, and repairs in the event of an accident involving a vehicle owned by your installation business. Most states require this coverage for vehicles owned by a business.

Contractor’s tools and equipment insurance: This policy helps pay for repair or replacement of an installation contractor’s tools and equipment if they are lost, stolen, or damaged.

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Get free quotes and buy online with Insureon

Are you ready to safeguard your installation business with cyber liability insurance or another type of insurance? Complete Insureon’s easy online application to get quotes from leading U.S. insurance companies.

You can also speak with a licensed insurance agent to help you get the right, most affordable coverage for your business. Once you find the right policy, you can begin coverage in less than 24 hours.

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Updated: April 12, 2024

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