As a bookkeeper or accountant, your job requires extreme attention to detail. But even with your skills, mistakes can happen—and that’s where bookkeeper & accountant business insurance comes in. Whether you're preparing financial statements or managing payroll, having the right coverage can save your business from financial loss due to errors, accidents, or legal claims.
General liability insurance protects you from claims involving third-party injuries, property damage, and advertising harm. For example, if a client visits your office and slips on a wet floor, general liability could help cover their medical bills or any legal expenses if they decide to sue.
A Business Owner’s Policy (BOP) combines general liability and property insurance into one package. This means you’re covered for lawsuits, as well as damage to your office or equipment. Let’s say there’s a fire that damages your office. A BOP would cover the cost of repairs and lost income while you’re out of business.
Excess liability insurance, or umbrella insurance, gives you extra coverage when your other policies max out. It’s especially useful if you’re dealing with a large lawsuit.
For example, if a client sues you for a serious error, and the damages exceed your general liability limits, excess liability steps in to cover the difference.
Professional liability insurance (also known as errors and omissions) protects you from claims related to mistakes in your work. If you make an accounting error that causes financial harm to a client, they could sue for damages. Professional liability covers legal fees and any settlement costs.
If you have employees, workers' compensation insurance is required. It covers medical expenses and lost wages if someone gets injured on the job. For instance, if an employee gets hurt while lifting office supplies and needs medical care, workers' comp would handle their treatment and any time off work.
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