The premium is generally based on your industry, your specific operations, and on your revenue.
For example, a manufacturing company with annual revenue of $25-30 million dollars could anticipate premiums of anywhere between $6,000 to $7,000 a year for $1 million in coverage. They could also consider a $3 million or a $5 million option.
What matters is your comfort level, what information you store, and your comfort level with risk. It’s a cost-benefit analysis that’s different for every company, so there isn’t a right or wrong answer.
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