person on computer typingDo you own a small business? If you've worked with an independent insurance agent, you've probably heard of a business owner's policy, or BOP for short. It's basically an insurance package that bundles the most common coverage options for one convenient solution with one premium to pay.

The great thing about BOPs? They're completely customizable. BOPs come standard with property and liability coverage, but you can add in the coverage options that best apply to the needs of your business. However, many business owners overlook cyber liability coverage.

You hear about large corporations that suffer hacking and other data breaches on the news. But, what you don't hear about is the nearly 45 percent of small businesses that also face breaches, costing an average of over $8,000 per attack. The unfortunate truth is that many small business can't afford to shell out several thousand dollars after such a disaster, and over half of the affected businesses are forced to call it quits within six months of a cyber-attack.

Since it's safe to assume that all businesses now use computers in order to perform daily operations, that means that they are all open to data breaches. If hackers can get into the firewall-protected computer systems of large corporations that are protected by teams of IT professionals, you bet they can get into your system as well. And while the loss or leakage of your own proprietary files is bad enough, you also have a responsibility to protect the sensitive information of your clients that may be stored in your system.

If customer credit card numbers, addresses or phone numbers are exposed, you could have a huge cleanup effort on your hands — with a huge price tag to boot. So, how can you protect your business from cybercrime? Cyber liability insurance helps provide the funds needed to deal with a digital attack, including informing customers, offering identity theft monitoring services, PR services and more. These funds can very likely be the difference between barreling though a tough time and watching your business become financially crippled.

Does cyber liability insurance sound like a good choice for your business? Talk to your agent about adding this coverage to your BOP today.

Get the coverage you need. Call Buschbach Insurance Agency at (708) 423-2350 for more information on Oak Lawn business insurance.
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