Customized Insurance for Your Tax Preparation BusinessGet Your Quote
As a tax preparer, you take pride in providing the best tax advice and guidance to your customers. But what happens if a customer claims you made an error on their taxes, resulting in a huge financial penalty? Could your business handle those accusations and any resulting lawsuits?
That’s where Simply Business comes in. Our tax preparer insurance is perfectly tailored to your business needs, so you’ll get the exact protection you need. What’s more, we can provide you with tax preparer insurance quotes in minutes, so you can get back to what you do best: running your business.
Since a good portion of your day is spent giving clients tax advice and preparing their tax returns, you’re going to need a range of insurance coverage that protects you in case of errors or claims of negligence. Let Simply Business build an insurance policy that’s personalized just for you.
Need more detail? Read our FAQs:Get Your Quote
Professional liability insurance — which is also commonly referred to as errors and omissions (E&O) insurance — is a type of policy that protects you if a customer accuses you of errors and/or negligence resulting from your tax preparation services. In these cases, your policy can pay for any damages and legal costs that may arise from these claims.
This insurance can be essential for tax preparers, simply because so much of what you do is based on your advice and guidance.
Professional liability insurance usually covers:
Professional liability insurance does not cover:
General liability insurance — also known as commercial general liability (CGL) insurance — protects your tax preparation business from claims of bodily injury or property damage from customers and other third parties. For example, if a client visits your office and trips over a loose rug and gets hurt, general liability insurance may cover any resulting medical costs from the injury.
General liability usually covers:
General liability insurance usually does not cover:
Learn more about commercial general liability insurance.
Do you have any full-time or part-time employees who help with your tax preparation business? If so, you may need a workers compensation policy. This type of insurance coverage can pay for medical bills, lost wages, and any legal costs associated with an employee or subcontractor who getssick or hurt while on the job.
Your state may require you to carry workers compensation insurance policy, so it’s a good idea to add it to your overall tax preparer insurance coverage.
Learn more about workers compensation insurance.
If you’re curious about how much your tax preparer insurance might cost, Simply Business can help! In order to determine your final policy price, we’ll need the following information:
Want to find out how much your insurance policy might cost? Just click here to answer a few questions about your business.