This will depend on the type of business you have and the number of customers you have.
The average cost of data breaches is $195 per lost record. So even if you only have a few thousand customer records, a data breach could cost your business hundreds of thousands of dollars. It adds up really quickly. A million dollar policy covers about 5000 records. Be sure to talk to a reputable, knowledgeable insurance agent who really understands your business, to ensure that you get the right amount of coverage for your needs.