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Financial Planner Insurance

Customized Insurance for Your Business

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Simply Business is pleased to provide tailored insurance options from:

  • Accredited America logo.
  • ABIC logo.
  • AXIS logo.
  • Clear Blue logo.
  • CNA logo.
  • Frank Winston Crum logo.
  • Harborway logo.
  • Hiscox logo.
  • Markel logo.
  • NASW logo.
  • Travelers logo.
  • USG logo.

Financial Planner Insurance That’s Made Just for You

As a financial planner, you’ve put in the hours and dedication to take your craft to the next level of professionalism and have earned the CFP designation. You’re a master at numbers and strategizing best practices for saving toward a big goal, whether that’s a vacation, retirement, or college fund. You know when to spend, when to save, and how to make realistic goals.

However, you may not know much about small business insurance policies.

What Insurance Do Financial Planners Need?

Fortunately, you don’t need to — let Simply Business build an insurance policy that’s personalized just for you.

Get your quote

Need more detail? Read our FAQs:

  • What is Business Insurance?

Coverage Type

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Professional Liability Insurance for Financial Planners

Professional Liability insurance — which is also referred to as errors and omissions insurance (E&O insurance) — is a type of policy that provides coverage in the event a client alleges negligence resulting from your professional services. If your client decides to sue your business for errors related to your services and advice, your professional liability insurance policy may cover damages and legal costs that you might be ordered to pay due to negligence.

For example, say your client is asking you to help them plan to save up for their son’s college tuition. You do all the work and give them your advice, but the client alleges you were negligent while delivering your services with false information or misguidance. You could receive a claim for alleged negligence, but professional liability may help cover the legal costs to that claim.

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General Liability Insurance for Financial Planners

General liability insurance — also known as commercial general liability (CGL) — protects your business from third-party claims of bodily injury or damage to someone else’s property.

If you have an office where clients come to visit, there’s always a risk that they may accidentally injure themselves on site. That could be as simple as their tripping on a rug and hitting their head, requiring a trip to the hospital. General liability insurance may help cover some of the medical bills for that injured individual. Also, if you are visiting a client on their property and you happen to accidentally knock over an expensive chair and break a table in the process, general liability insurance may help cover the repair costs to their property.

Learn more about General Liability Insurance.

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Workers Compensation Insurance for Financial Planners

Do you have full-time employees or part-time help? If that’s the case, you may need workers compensation insurance. If someone who works for you gets hurt on the job, this coverage provides help with medical bills, lost wages, and any legal costs that relate to the injury.

Most states require any business with employees to have workers compensation insurance, so make sure you add it to your policy!

Learn more about workers compensation insurance.

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How Much Does Financial Planner Insurance Cost?

Not sure how much you might pay for insurance coverage as a financial planner? While there’s no one answer for how much your policy will cost, your final premium will usually be determined by:

  • The number of employees you have (including part-time and consultants)
  • Your location
  • Payroll
  • Revenue
  • And more

Want to find out how much your insurance policy might cost? Just click here to answer a few questions about your business.

Financial Planner Insurance


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*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated insurance carrier by AM Best. Harborway Insurance is a brand name of Harborway Insurance Agency, LLC, a licensed insurance producer in all 50 states and the District of Columbia. California license #6004217.

© Copyright 2022 Simply Business. All Rights Reserved. Simply Business, Inc. is a licensed insurance producer in all U.S. States and the District of Columbia. Simply Business has its registered office at Simply Business, 1 Beacon Street, 15th Floor, Boston, MA, 02108. In the state of California, we operate under the name Simply Business Insurance Agency, Inc., License #0M20593. In the state of New York we operate under the name Simply Business Insurance Agency. In the state of Texas we operate under the name, U.S. Simply Business, Inc. For more information, please refer to our Privacy Policy and Terms & Conditions.