How much would a cyber incident cost you?

How much does a cyberattack cost an SMB?

According to IBM (Cost of Data Breach Report 2024), the average cost of a data breach for an SMB is $345,000. But that number doesn't tell the full story.

The hidden costs of a cyber incident

• Business downtime — 3 days average complete shutdown. Each day costs in lost productivity.
• Recovery — Forensics, cleanup, system rebuilding.
• Legal — GDPR notification, lawyers, potential fines.
• Reputation — Lost clients, missed contracts, eroded trust.
• Ransom — 70% of SMBs hit by ransomware pay the ransom.

Prevention costs 10x less

Fusion AI protects your infrastructure 24/7 from £7/user/month. Monitoring, detection, automatic incident resolution, compliance included.

How much does cyber insurance cost for SMBs?

SMB cyber insurance premiums typically range from $500 to $5,000 per year, depending on revenue, sector, and existing security controls. Companies with MFA, backups, and documented incident response pay 30-50% less. Companies without these controls often can't get covered at all — 41% of SMB applications are denied on first submission (MoneyGeek).

How much coverage do you need?

A common rule: coverage should equal 1-2x your estimated incident cost (calculated above). For most SMBs, that means $1M to $5M in cyber liability coverage, with sub-limits for ransomware payment, business interruption, and regulatory fines (GDPR/HIPAA). Without the security controls insurers require, even paid premiums can result in denied claims.