As individuals, we pay for home insurance and auto insurance to provide coverage in case of a fire or car crash. Businesses often invest in liability insurance in case someone gets injured on their property.  

But what happens when a cyber attack affects your home or business? High-profile incidents such as last year’s Equifax data breach highlight how some of the biggest threats in today’s world exist in a purely digital realm.  

In an effort to protect themselves against the wide range of cyber security risks that exist in today’s marketplace, many companies are taking on the added measure of purchasing cyber insurance.  

But should you invest in cyber insurance for your own business or personal needs? Here’s a closer look at some of the key facts you need to know when deciding if this insurance offering is right for you.