How to Get Accounting Business Insurance for Your Firm
- Nate Jones, CPCU, ARM, CLCS, AU
- 1 day ago
- 2 min read
Running an accounting firm comes with unique risks, from professional errors to cyber threats. Protecting your business with the right insurance is essential. In this guide, we’ll explore the types of coverage accounting firms need, how to obtain a policy, and why Wexford Insurance can help safeguard your practice.
Why Accounting Business Insurance Matters
Accounting firms handle sensitive financial data, client records, and provide professional advice. A mistake—even a minor one—can lead to costly lawsuits or financial losses. Business insurance for accountants covers these risks, giving you peace of mind while protecting your reputation and finances.
Key risks to consider include:
Professional Liability: Protects against claims of negligence or errors in your accounting services.
General Liability: Covers property damage or bodily injury claims from third parties visiting your office.
Cyber Liability: Safeguards against data breaches or cyberattacks that compromise client information.
Steps to Get Accounting Business Insurance
1. Assess Your Risks
Identify the specific risks your firm faces. Consider your client size, types of services offered, and exposure to regulatory issues. This helps you determine the coverage limits and types of policies your firm needs.
2. Compare Insurance Providers
Not all insurers are created equal. Look for providers with experience covering accounting and professional services. Wexford Insurance specializes in business insurance for professional firms and offers tailored policies that fit your unique needs.
3. Request a Quote
Once you have a clear understanding of your risks and potential coverage, request a quote. Wexford Insurance offers fast and straightforward quoting options to help you find the right policy without unnecessary hassle.
4. Review Policy Terms
Before purchasing, carefully review the policy limits, exclusions, and deductibles. Make sure your coverage aligns with your firm’s risk profile. This step ensures you won’t be underinsured if a claim arises.
5. Maintain and Update Coverage
As your firm grows, so do your risks. Regularly review your insurance policies to ensure coverage keeps pace with new services, staff, and client contracts.
Protect Your Firm Today
Investing in accounting business insurance is a proactive step to protect your firm from unexpected challenges. Wexford Insurance provides customized solutions designed specifically for accounting professionals.
