Insurance Cost for an Accounting Firm: 2026 Pricing Guide
- Nate Jones, CPCU, ARM, CLCS, AU
- 1 day ago
- 2 min read
For accounting firms, understanding insurance costs is critical to budgeting and risk management. Whether you run a small bookkeeping service or a larger CPA practice, having the right coverage protects you from lawsuits, errors, and cyber threats. In this guide, we break down the typical insurance costs for 2026 and factors that influence pricing, while showing how Wexford Insurance can help you get a tailored quote.
Average Insurance Costs for Accounting Firms in 2026
Insurance costs can vary widely depending on firm size, services offered, location, and coverage limits. Here’s a general breakdown for common types of accounting insurance:
Professional Liability (Errors & Omissions): $500 – $3,000 per year for small firms; larger firms may pay $5,000+ depending on revenue and client risk.
General Liability: $400 – $1,500 per year.
Cyber Liability: $300 – $2,000 annually depending on data exposure and firm size.
Business Property Insurance: $200 – $1,000 annually for office space and equipment.
Workers’ Compensation: Varies by state and number of employees; can range from $500 – $5,000+ per year.
Keep in mind, these are general ranges. The exact price depends on your firm’s size, revenue, number of employees, and services offered.
Factors Affecting Insurance Costs
Several factors can influence the cost of your accounting firm insurance:
Firm Size and Revenue: Larger firms with higher revenues often pay more due to increased exposure.
Services Offered: Firms providing complex financial consulting may require higher coverage limits, increasing premiums.
Claims History: A history of prior claims can raise insurance costs.
Location: Insurance rates vary by state and city due to regulatory differences and risk levels.
Coverage Limits and Deductibles: Higher coverage limits increase premiums, while higher deductibles can reduce them.
How to Get an Accurate Quote
Getting the right insurance starts with understanding your firm’s risks and coverage needs. Wexford Insurance specializes in business insurance for accounting firms and CPAs. Their team can provide a customized quote that fits your firm’s profile. Request a quote from Wexford Insurance for accurate pricing.
Understanding insurance costs helps accounting firms plan effectively while staying protected. By working with a specialized provider like Wexford Insurance, you can secure comprehensive coverage at competitive rates.
Request free accounting insurance quote from Wexford Insurance and ensure your firm is prepared for any challenge.
