Is cyber insurance necessary for home-based freelancers?

I'm 28 years old and recently started freelancing full-time from home. I handle most of my work, finances, and personal life online—from storing client files to using digital wallets and internet banking.

- S. Vishwanathan

Lately, I've been hearing more about rising cyber fraud and data breaches, and it's starting to worry me. What if I fall victim to a scam, my devices are hacked, or sensitive information is stolen? Is there any way to protect myself financially from such threats? I've never purchased cyber insurance before—what should I know and look for when considering it?

—Aarav