5 Reasons Cyber Insurance Is No Longer Optional – Even for Brick-and-Mortar Businesses

You don’t have to operate an online store or handle large amounts of customer data to be a target for cybercrime.
These days, even small, local businesses—like restaurants, salons, and retail shops—are getting hit by cybercriminals. Ransomware, email scams, and data breaches are just a few of the ways businesses can be affected. If your company uses email, accepts card payments, or stores customer or employee data, you’re at risk.

1. Cyber Criminals Are Targeting Smaller Businesses

Big corporations make the headlines, but nearly half of all cyberattacks are aimed at small businesses. Why? Many don’t have strong cybersecurity measures—if any at all—and cybercriminals know it.

2. Ransomware Can Cripple Operations

What would you do if your business was locked out of its point-of-sale or payroll system the day before payday, and the attackers demanded tens or hundreds of thousands of dollars in cryptocurrency to regain access? That’s the reality for businesses hit by ransomware.

Having a cyber insurance policy can help pay the ransom, assist with data restoration, and even cover income lost during downtime.

3. Storing Customer & Employee Data Creates Liability

If your company stores even basic information like names, addresses, emails, or employee financial details, that data is worth protecting. If it’s compromised, your business is legally required to notify all affected parties.

Cyber insurance helps cover the cost of notifying victims, providing credit monitoring, funding legal defense, and more.

4. Your Vendors Can Expose You

Even with your own cybersecurity measures, your business is still at risk. Vendors like payroll processors, email platforms, point-of-sale systems, or suppliers are essential to daily operations. But if one of them is breached, your business could be impacted, too.

A good cyber insurance policy can provide support even when the breach originates outside your company.

5. It’s More Affordable Than You Think

Most businesses can get quality cyber coverage for about the cost of a daily coffee or breakfast sandwich. Considering the average cyber claim exceeds one million dollars, and it’s a matter of when, not if, an attacker will target your company, getting covered should be a no-brainer.

Cyber insurance isn’t just for large corporations or tech companies—it’s a key piece of the puzzle when it comes to lowering your overall cost of risk and staying protected in today’s digital world.

If you’d like a quick quote or want a cyber risk assessment for your business, feel free to fill out the form below or contact me directly—we can review your company’s cyber risk profile together.

Josh Sexton, CLCS – Risk Advisor, Craddock Insurance – (678) 450-6625 – [email protected]