Simply Business is pleased to provide tailored insurance options from:
Clients trust you to guide them through tax season and offer the best financial advice. It’s an important job, and you spend hours reviewing tax details. But despite time and attention, mistakes can happen. And if they do, they could cost your business thousands of dollars.
Protect yourself by getting accountant insurance with Simply Business. We offer accounting professionals comprehensive coverage at an affordable price. It’s easy to use our website to compare free quotes from the nation’s top insurance companies. Remember, protecting your business is just as important as protecting your clients’ finances.
Take 10 minutes today to get a quote.Get your quote
With accountant insurance, you can be financially protected:
Accountants carry a lot of responsibility. You’re managing your clients’ finances and making recommendations that impact their taxes. But what if you make a mistake? Or overlook an important detail? Just one error could cost you a lot of money.
With professional liability insurance, you’re in good shape. Your plan may cover you and your business if there’s an error or omission with your work. But without this protection, you’re putting your business at risk, and you might be on the hook to pay for these errors.
Consider this example. You’re preparing a client’s tax return and incorrectly record income, causing your client to owe twice as much in taxes. Later your client discovers the discrepancy and hires another accountant to fix the return. Then he sues you for the costs. If you have professional liability insurance, your plan may cover your legal fees, as well as other claim costs up to your policy limit.
Remember, even the best accountants can make mistakes. That’s why it’s wise to protect yourself and your business ahead of time. Get professional liability insurance before you start working with any new clients.
You can expect professional liability insurance to cover:
Keep in mind, it usually doesn’t cover:
As an accountant, you want to get commercial general liability insurance (CGL). This plan covers your business if there’s an accident or injury at work, or damage to property. It can also cover you if someone damages your company’s reputation, resulting in a loss of revenue.
Don’t think it can happen? Think again. Accidents and damage can happen anywhere and to anyone—and can be costly. In fact, the average claim for small business property damage or customer injury is $30,000!
And, according to one survey, more than a third of small business owners experienced events that could lead to claims.
Imagine you rent space for your accounting business. The floor was recently washed and still slippery. As a result, one of your clients slips and falls. Later, this client sues you to pay for medical bills.
Without coverage, you would need to pay for a lawyer to defend yourself, plus the medical bills. But with commercial general liability insurance, you don’t need to worry as much. Your plan may cover legal fees and other costs from the claim up to limit of your policy.
Here’s what general liability insurance typically covers:
However, it usually doesn’t cover:
Do you have employees, even part-time workers? Whether you hired a junior accountant or an administrative professional, you may need workers compensation insurance if you have staff. Get a plan as soon as you hire your first employee. It’s actually a legal requirement in most states.
It makes sense. In 2017, work injury costs added up to about $161.5 billion. Plus, the average injury claim for a small business owner is $39,000. Imagine paying that amount if your employee gets injured on the job. But with workers compensation, you don’t need to worry. Your plan may cover medical bills, emergency room visits, medications, and even lost wages.
In general, workers compensation usually pays for:
Workers compensation usually does not cover:
Anything can happen—and to anyone.
The truth is, owning a business puts you at risk. In fact, 43% of small business owners say they’ve had to deal with a lawsuit or the threat of one. Even if you work in a “safe” home office, your clients or employees can get injured. You’re also handling your clients’ finances, which is a big job. Just one mistake could cost your business.
At first glance, buying accountant insurance might seem expensive, especially if you’re just starting your business. But you know the numbers—a claim could take your business down if you don’t have the right insurance in place.
At Simply Business, we want to protect you as you grow your accounting business. We know you face risks on the job, and we want to make it easy for you to get an affordable plan. Compare that to the costs you’d have to pay without a policy:
You’re a potential target for lawsuits.
You may think a lawsuit would never happen to you, but over time, relationships with clients can change. People misunderstand one another and get emotionally involved in their finances. You never know how a client might react given the right circumstances.
You can also get sued by third parties, like mortgage companies, lenders, and your clients’ business partners. For example, if your client is unable to pay their bills, these third parties can go after you.
At Simply Business, we don’t want you to worry about potential claims. With insurance, you can enjoy peace of mind knowing your plan can handle the costs.
Most states don’t require you to carry insurance. But if you rent office space, your property manager might ask you to carry commercial general liability insurance. This helps protect you (and the property you rent) if there’s an accident, injury, or loss.
In your contracts, clients might require you to have professional liability insurance. This insurance can cover errors and omissions in your work, and legal expenses.
Yes! The great news is that accountant insurance is typically a tax-deductible business expense. As a tax professional, you know the importance of maximizing your deductions. This is another way you can do so. We recommend you or another tax professional review your specific business needs when determining what deductions are available to your business.
Every accounting professional is different. At Simply Business, we can help recommend the right amount of insurance for your business. It usually depends on:
Just take 10 minutes to get your free quote online. We’ll show you policies and coverage amounts that could work well for you. If you have questions, call one of our licensed insurance agents. They’re ready to help.
Simply Business makes it incredibly easy to get free quotes for business insurance online. It takes just 10 minutes or less. To get your quote as quickly as possible, have this information on hand:
Yes, sometimes it differs by state. Fortunately, our online quote form shares plans that are specific to your state.
We recommend that accountants get commercial general liability insurance and professional liability insurance. If you have employees, you should also get workers compensation. These plans will protect you and your business from:
It depends. Your plan’s cost is based on a few variables—where you live and how many employees you have. To help give you an accurate quote, we’ll need:
If you’re wondering how much accountant insurance costs, go to our online business insurance quote form and answer a few questions. You’ll find out in just 10 minutes.
As an accountant, you have a lot on your plate. You don’t need to worry about the possibility of a lawsuit. Simply Business is here to help you compare insurance plans—so you can get back to accounting. We’re a rapidly growing insurance brokerage who looks out for the best interests of small business owners. We’re here to protect you.
Want more reasons to choose us?
We put you and your business first. We want you to be successful. If you need coverage, our licensed insurance agents will guide you and help you select the best policy. Our team is knowledgeable, trustworthy, and concerned about your livelihood.
We make getting insurance easy. As a small business owner, you’re busy. You don’t have a lot of time to deal with insurance policies. Our free quote form makes it easy to compare coverage online and get a plan fast.
Remember, anything can happen in your business. That’s why it’s important to take steps to protect yourself. Get a free quote today and enjoy the peace of mind you deserve.Get your quote
This content is intended to be used for informational purposes only. It is not intended to provide legal, tax, accounting, investment, or any other form of professional advice.
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated reinsurance carrier by A.M. Best. Harborway Insurance is a trade name of Simply Business, Inc., which is a licensed insurance producer in all 50 states and the District of Columbia.