What Accounting Business Insurance Covers for CPAs and Bookkeepers
- Nate Jones, CPCU, ARM, CLCS, AU
- 1 day ago
- 2 min read
As a CPA or bookkeeper, your expertise is invaluable—but it also comes with potential risks. From client mistakes to data breaches, your practice faces exposures that could result in significant financial or reputational harm. Accounting business insurance is designed to protect professionals like you from these risks, ensuring peace of mind and continuity in your operations.
Key Coverage Options for Accounting Professionals
Accounting business insurance is not one-size-fits-all. Coverage can vary depending on your firm’s size, services, and client base. Here are the most common types of coverage that CPAs and bookkeepers should consider:
Also known as Errors & Omissions (E&O) insurance, professional liability protects against claims of negligence, mistakes, or failure to perform professional duties. For example, if a client suffers financial loss due to an accounting error, this coverage helps pay for legal fees and damages.
General liability insurance protects your firm from claims related to property damage, bodily injury, or personal injury occurring on your premises. Even a simple slip-and-fall at your office can be costly without this coverage.
In today’s digital world, CPAs and bookkeepers handle sensitive client financial information. Cyber liability insurance helps protect your business from data breaches, ransomware attacks, and other cyber threats.
If your office, computers, or accounting software are damaged by fire, theft, or natural disasters, business property insurance can help cover repair or replacement costs, keeping your operations running smoothly.
If you employ staff, workers’ compensation insurance is typically required by law. It provides coverage for medical expenses and lost wages if an employee is injured on the job.
How to Get Coverage
Evaluate Your Risks: Identify the specific risks related to your services, client base, and office operations.
Compare Providers: Look for insurers familiar with accounting practices. Wexford Insurance specializes in business insurance for CPAs and bookkeepers. Visit Wexford Insurance to explore options.
Request a Quote: Get a tailored quote that matches your firm’s risk profile. Wexford Insurance makes the process quick and simple.
Review Policy Details: Ensure your coverage limits and exclusions fit your firm’s needs.
Update as Needed: As your firm grows or expands services, periodically review your insurance to ensure adequate protection.
Secure Your Practice Today
Accounting business insurance is essential for CPAs and bookkeepers who want to protect their professional reputation and financial stability. Wexford Insurance offers customized policies to suit your specific needs.
