insurance for accountants

Important Accountant Insurance Coverage

When searching for insurance for accountants, it may be hard to figure out what exactly you need. Working with an insurance company which focuses its coverage for accounting businesses can help with narrowing everything down and getting the exact coverage you need. There are a variety of insurance types and liabilities that should and can be covered, so keep in mind your likely risks and how to protect from them.

Who Can Get Accountant Coverage?

Financial advisory and handling can be a risky job and is a part of a handful of businesses and professions. If your work can lead to the financial loss of someone or a business due to acts of negligence and inaccuracy, then insurance for accountants may be ideal for you. This can include:

Bookkeepers

Auditors

Payroll services

Business or Management Consultants

ITS

Tax Preparers

What Policies Do You Need?

While every business is different, there are a few insurance policies which will benefit any accounting or other financial services. Professional Liability may be the most important, as small mistakes can lead to huge losses and lawsuits. Others to consider are:

Business Insurance

General Liability

Commercial Property

Business interruption

Cyber Liability

Privacy Coverage

Employment Practices Liability Insurance

Workers Compensation

Other policies may be more unique, depending on if you are stationed out of a building that’s at risk of weather disasters, for example. This is why working with insurance companies to get all the best coverage can help you in the long run.