Nearly 20% of Australian small businesses plan to buy cyber insurance next year, up from 14% with the cover now, according to technology company Symantec.

Its Cyber Security Survey shows 19% of small businesses experienced a cyber attack this year and 20% of those with cyber insurance have made a claim.

Businesses with servers are more likely to consider cyber cover (28% compared with 6% among those without), as are companies with more than five employees (33% against 8% of businesses with 1-3 staff).

Only 5% of micro-businesses (1-5 staff) hold a cyber policy, compared with 30% of companies with 6-20 employees.

Almost a quarter of businesses with a server have cyber cover.

When turnover is above $1 million or IT spend tops $6000, the likelihood of a business owning a cyber policy increases to 30% or more, Symantec says.

On average, businesses expected to pay about $2898 for cover. Those with servers expect to pay $3177, compared with $579 for those without.

The average expected cost for micro-businesses is $2222.

Businesses earning above $1 million expect to pay $3983, compared with $583 for companies earning less than $250,000.

Symantec Director Norton Business Unit Pacific Region Mark Gorrie says small businesses are particularly vulnerable to cyber attacks because they often lack the same security resources and budgets as big businesses.

“The impact of a cyber attack on a small business’ brand, reputation and business operations can be catastrophic,” Mr Gorrie said. He says many small companies may not realise their normal business insurance does not cover cyber attacks.