What "Comparing Cyber Insurance" Actually Means
Two cyber quotes with the same premium are almost never the same policy. When we put quotes side by side, these are the columns that matter:
| What to compare | Why it changes your outcome |
|---|---|
| Per-claim limit & aggregate | $1M/$1M is the small-business standard; contracts increasingly require proof of $1M+ |
| Retention (deductible) | $1,000–$25,000 spread between carriers on otherwise-similar quotes |
| Ransomware sublimit | Some policies cap ransomware at a fraction of the full limit — the single most common surprise |
| Social engineering / wire fraud sublimit | Often $100K–$250K even on a $1M policy, sometimes with a callback-verification requirement |
| Business interruption waiting period | 6 vs. 12 vs. 24 hours determines whether a short outage pays anything |
| Retroactive date & prior acts | Matters if you're switching carriers — a reset retro date erases coverage for past incidents |
| Breach response: panel vs. choice | Some carriers require their vendor panel; others let you pick counsel and forensics |
The Carriers We Compare
We hold appointments with 5+ A-rated carriers and specialty markets, and quote the ones whose appetite fits your business:
| Carrier | Where it tends to stand out |
|---|---|
| Chubb | Broad forms and strong incident-response services; DigiTech ERM for tech and professional firms; doesn't hard-require MFA for small accounts the way some markets do |
| Hartford | Competitive for established small businesses, especially when pairing cyber with other lines |
| Hiscox | Fast turnaround for small businesses and no-website professional services firms |
| Cowbell | Data-driven underwriting with continuous risk scoring — often sharp for tech-enabled SMBs |
| Specialty markets | Harder classes (staffing, healthcare tech, MSPs) route to wholesale and specialty programs when standard appetite passes |
No single carrier wins every class. The same IT consultancy can see a 40% premium spread between its best and worst quote — which is the entire argument for comparing rather than renewing blind.
What Cyber Insurance Costs in 2026
From the quotes we run daily, typical annual premiums for $1M limits:
| Annual revenue | Typical premium range |
|---|---|
| Under $250K | $1,000 – $2,000 |
| $250K – $1M | $1,500 – $3,500 |
| $1M – $5M | $2,500 – $7,000 |
| $5M – $20M | $6,000 – $15,000+ |
Industry moves these bands more than revenue does: law firms, financial advisors, healthcare practices, and MSPs price above generic professional services because attackers target them, while strong controls (MFA everywhere, tested backups, EDR) pull quotes toward the bottom of the band.
How the Side-by-Side Works
- One application — about four minutes, and it covers every carrier we send it to. No re-answering the same questions per carrier.
- Licensed brokers shop it — we submit to the carriers whose appetite matches your industry and controls, including the markets above.
- You get a normalized comparison — premium, limits, retention, and the sublimits that differ, laid out side by side with a recommended option sized to your business (never just the most expensive tier).
- Bind online — pick the quote, sign electronically, and coverage can be effective same-week.
Most businesses see their first quotes the same day; harder classes that need underwriter review come back within a couple of business days.
If You Buy Other Coverage Too, Compare the Bundle
Cyber alone is rarely the whole picture for the businesses we serve. IT consultants and MSPs pair cyber with tech E&O; law firms pair it with malpractice coverage; financial advisors with professional liability. Bundled placements routinely save 15–25% versus buying lines separately, and comparing the bundle — not just the cyber line — is where the real premium differences show up.
