Get Financial Protection With Cyber Insurance
At biBERK, we've moved past the traditional insurance model and instead sell our products directly to you online or over the phone. That means we make it easy to get the cyber insurance add-on coverage you need. It's faster, more convenient, and saves you up to 20% compared to other companies.
What is Data Breach Insurance and Cyber Insurance Add-On Coverage?
Data breach insurance and cyber insurance can be purchased as an add-on to a general liability, professional liability, or business owners policy (BOP), which is also called property & liability insurance. It helps cover costs related to system hacks or data security breaches in which sensitive information has been stolen and fraud has occurred or there is a reasonable expectation that it might occur.
This add-on coverage may pay, up to its limit, for incident response expenses like informational materials, help line, credit report monitoring, identity restoration case management, and certain services provided to affected individuals (only available for add-on to a BOP).
It may also pay for suits brought against you for a covered event:
Credit Card Fraud
This is a situation where credit card information has been compromised and fraud has occurred or is likely to occur.
System hacks include things like a cybercriminal gaining unauthorized access to your computer network.
Data Security Breaches
If you store sensitive data, a data security breach involves an unauthorized person gaining access to that information.
Protect Your Business With Cyber Insurance Add-On Coverage
Imagine coming into the office one morning and learning that cybercriminals have breached your network overnight and stolen sensitive customer data. Not only are you now facing legal liability for your failure to protect that information, time you should be spending on operating your business will instead be consumed by filing reports, contacting customers, and in general overseeing “damage control.” A cyber insurance add-on can’t prevent a breach, but it can take much of the stress out of the situation since it’s likely that many of the costs of the incident will be covered.
Cyber Insurance Add-On Coverage for Powerful Peace of Mind
Get help with first-party response expenses when coverage is added to general liability or BOP coverage and third-party expenses with general liability, BOP, or professional liability. First-party expenses include forensic IT review, legal review, notification of affected individuals, services for affected individuals, and public relations services. Third-party expenses include defense and liability costs. Businesses that handle information like Social Security numbers, credit card numbers, or medical records needs cyber insurance.
Why biBERK for Cyber Insurance?
We're the experts when it comes to insuring small businesses.
Get a quote entirely online or speak with one of our insurance experts right away for help getting a quote, buying coverage, or answering any questions you may have.
We insure your small business directly, without a middleman or insurance broker, so we pass that savings on to you—up to 20% less than policies with other insurance companies.
We're part of Warren Buffett's Berkshire Hathaway Insurance Group with millions of satisfied customers, more than 75 years of insurance experience, and $38 billion in paid claims in 2020.
Why do I Need Cyber Insurance Coverage?
Cyber insurance coverage can help protect the financial future of your small business. The fallout from even one incident—from legal liability to the costs associated with investigating the event and restoring lost data—can be a tremendous drain on your resources. Having the proper cyber insurance coverage allows you to focus on running your business rather than worrying about the consequences of a cyberattack.
How Much Does Cyber Insurance Add-On Coverage Cost?
On Average $85-$200 per Year for Base Coverage
Base coverage of $50,000 for response expenses and $50,000 of defense liability will typically cost a small business between $85 and $200 annually. In addition to very competitive rates, our cyber insurance add-on coverage comes with low down payments. Plus, you can submit claims online, which means no more waiting days or weeks for a claim to go through.
Enjoy Superior Customer Service
When you need assistance of any kind, our licensed experts are just a phone call, email, or chat away. Plus, our small business insurance customers have access to low down payments, all available through biBERK.com. We also offer you and your employees hands-on insurance management and top-of-the-line customer service.
Add Extra Insurance Coverage
Cyber insurance add-on coverage of up to $1,000,000 is available for small businesses. The premiums depend on multiple factors, including:
- Business activities
Other Ways You can Protect Your Business With biBERK
We make it easy to submit claims and manage policies online for:
This legally mandated insurance policy that protects employees and the business if an injury or illness happens while they’re working.
Business Owners Policy
Fully protect your business and property, with customizable property and liability insurance.