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Cyber Insurance

What Determines the Cost of Cyber Insurance?

Truscott Insurance Solutions
July 24, 2026
5 min read

Cyber insurance premiums vary widely, and understanding what drives the number helps you get better coverage for the money. Industry surveys in 2025 and 2026 put typical small-business cyber premiums roughly between $1,000 and $2,500 per year for $1 million in limits, though your quote depends on several factors.

What raises or lowers your premium

  • Revenue and size: larger operations generally pay more.
  • Data you hold: health, financial, and payment data raise the stakes.
  • Industry: higher-risk fields like healthcare and law can run more.
  • Security controls: multi-factor authentication, backups, and staff training can lower the cost.

The controls that pay off

Carriers reward businesses that make attacks harder. Simple, affordable steps like turning on multi-factor authentication, keeping offline backups, and training staff to spot phishing can improve both your eligibility and your rate.

Good news on pricing

As of 2026, cyber pricing has been softening, so quotes often come in below what owners expect. Your quote is free and carries no obligation, so there is little downside to checking.

What Truscott recommends

Compare a real quote against what you would pay out of pocket after an incident. Start a free cyber quote or learn more about cyber insurance for Florida businesses.

Free tools from Truscott

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