Tech Tips

May 08, 2024

Tune Up Your Cybersecurity Before Renewing Your Cyber Insurance (It Saves $$$)

Can you lower cybersecurity insurance premiums? Yes, by improving your company's current cybersecurity protections.

Like most insurance plans, cybersecurity insurance usually renews each year. Before you renew yours, it pays to check whether you can reduce the premium. Which you definitely can do.

One way to do that—Send the insurance renewal application to your IT Manager or Consultant for review.

What can that do?

Every cybersecurity insurance carrier asks about the security measures you have in place. The more your company has, the more secure you are, and the more “insurable” you are. That translates to lower premiums.

By looking through those requirements, your IT team can advise you on which actions to take for maximum security. Often, the cost to implement security actions is very reasonable...and it pays you back in the form of lower insurance premiums.

Everyone wants to save money, right? This is a way to do it, and keep your company’s cybersecurity strong.


PlanetMagpie is always happy to review your Cybersecurity Insurance application, and propose ways to harden your network against threats. Contact us at