Bookkeepers/Tax Preparers Professional Liability Insurance

Rates Starting at $400
Limits from $100,000 to $5,000,000
Deductibles from $0 to $50,000

E and O Coverage and Business Owners Policy (BOP) Available

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Bookkeeper/Tax Prep App

BOP App

Professional liability insurance for bookkeepers and Tax Preparers helps protect your business or consultancy from risks not typically covered by general commercial liability policies.

Just as medical practitioners need malpractice insurance tailored to their risks, you need professional liability coverage for your business tailored to yours.
Bookkeepers/Tax Preparers professional liability insurance is an essential part of your comprehensive business insurance portfolio, whether you work from an office or out of your home. 

If you already have a policy, you should review it periodically to make sure it is up to date.

As your bookkeeping firm expands, it’s a wise idea to increase your coverage limits and reduce your exposure to claims.

Coverage Includes:

•    Prior Acts coverage available to qualified applicants
•     A-Rated Insurance Company
•     Available in all states
•     Competitive premiums
•     BOP Policy Available for your Office
•     First Dollar Defense Available
•     Technology Professional Coverage
•     Disciplinary Proceedings Coverage
•     Loss of Earning: $500 a day, $10,000 maximum

Who Needs Professional Liability Insurance for Bookkeepers?

You need bookkeepers professional liability insurance because no one is perfect and because you afe dealing with money and your actions can cause harm to your clients, having a safety blanket of affordable Errors and Omissions
allows you to operate with greater comfort knowing your clients are protected and you and your assets are protected. Also many clients and associations require coverage. You or your employees provide advice or services that could result in a lawsuit or financial loss for your client due to any alleged error, omission or wrong-doing on your part You have personal assets that could be jeopardized if a client sued you

What Professional Liability Risks Do Bookkeepers Face?

Even the best bookkeeper can make a miscalculation or omit data that can cause a client to suffer financial loss. Add to that constantly changing laws, regulations and audit requirements. Your clients expect you to be an expert. Fail to stay abreast of the most current, accurate information and you’re likely to be on the A-list of advisors to sue when a client suffers financial harm. Every year, thousands of lawsuits are filed in the U.S. against bookkeepers. Regardless of whether or not you’re to blame, defending yourself against even one suit could mean financial disaster for you and your bookkeeping business. Without professional liability insurance, you could be forced to sell off your personal assets to repay your client. You’d also have to pay for your own defense and any costs associated with a judgment against you.

What Does Professional Liability for Bookkeepers Cover?

Your professional liability insurance covers financial losses and the costs and damages resulting from law suits up to the limit of your policy. It is a variation of Errors and Omissions Insurance (also called E&O) designed specifically for bookkeepers and bookkeeping firms. It protects your business and personal assets from claims of wrongful acts (errors, omissions or negligence) committed by you or an employee while performing professional duties.

Policies for professional liability insurance for bookkeepers and bookkeeping firms are affordably priced. Quotes will depend on the size and type of your business. Your previous claims history and loss experience, staff turnover, financial results and operating characteristics can also affect your rate.

Protect your business from exposure to risk professional liability insurance now.