Get an instant, free quote and buy online.
What kind of insurance is best for accountants?
As an accountant, you provide a specialized service to your clients. Hiscox not only understands the unique risks you face but also offers business insurance tailored to the needs of accountants.
Professional liability insurance, sometimes called errors and omissions insurance (E&O insurance), is insurance coverage for claims against businesses that provide professional and personal services – for businesses like yours. When is it important to have professional liability insurance? Examples include:
- Negligence: An accountant completes a client’s tax return. The client is audited and found to have used erroneous numbers and has to pay an additional tax and fine. The client sues the accountant, insisting that they should have known the numbers weren’t correct. The accountant could be protected by a professional liability insurance policy.
- Protection even if you haven’t made a mistake: An accountant examines financial records of a business and makes a recommendation. The client ignores the recommendation resulting in a business loss. He blames the accountant for not being clear enough in explaining the situation. The client makes a claim against the accountant, which could be covered by a professional liability insurance policy.
Learn more about professional liability insurance.
General liability insurance, sometimes called Commercial General Liability (CGL), protects your business from another person or business’s claims of bodily injury, associated medical costs, and damage to property. Having this kind of coverage is beneficial in several instances:
- Bodily injury: A client rushes in to an accountant’s office on April 10th with their tax documents. It’s raining, and the client slips on the wet floor and falls, breaking their wrist and requiring a trip to the emergency room. A general liability policy could cover the client’s medical expenses.
- Personal injury: While having lunch at the local deli, a temporary employee of an accounting firm is overheard talking about a client in a false and unflattering way. The client finds out about the conversation and sues the firm for slander. The accounting firm could be protected by a professional liability policy.
- Property damage: An accountant is at a client’s office reviewing the books. The accountant spills a cup of coffee on the client’s server, damaging it and corrupting some of the data. The cost to replace the server and recover the data could be covered by a general liability policy.
Learn more about general liability insurance.
Business owners policy (BOP) is a combination of general liability and business property insurance. BOP is often used to provide balanced coverage for small businesses who also want to protect their own business equipment. Some examples of what could be covered are below:
- An accountant has an office in their home. The office is broken into and several computers are stolen. The advisor’s business owner’s policy could cover the cost to replace the computers.
- The office above an accounting firm is flooded by a burst pipe and the water leaks into the office below, damaging several desks, chairs, and computers. The insurance agency’s business owner’s policy could could cover the cost to replace the damaged furniture and equipment.
Learn more about business owners policy.
Why accountants choose Hiscox:
- Tailored coverage: We specialize in businesses like yours and tailor coverage to the risks in your field.
- Passion for service: Knowledgeable agents provide exceptional service – 4.8/5 of people surveyed recommended us.
- Coverage for contracts: Our professional liability coverage satisfies most standard contract insurance requirements.
- Fast and simple: Online quotes or speak to a licensed agent – immediate coverage.
- Confidence: Hiscox Insurance Company Inc. is ‘A’ rated (Excellent) by A.M. Best.
Get a fast, free quote now and get that Hiscox confidence behind your business. If you prefer, you can call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday through Friday from 8am-10pm EST.
Quote online or call a licensed insurance agent
Hiscox Customer Reviews
Lisa-Marie, Brambleton, VA
“It was very easy, with one phone call I was able to explain what I needed and obtain the policy for my business.”
It was very easy, with one phone call I was able to explain what I needed and obtain the policy for my business.
Mauro, Los Angeles, CA
As a first time buyer, the Hiscox agent was very helpful in pointing out and explaining the options available to me. Would definitely recommend Hiscox
David, Miami, FL
“Great to be insured”
So far so good. Good rates and good customer service
Jacqueline, Forestville, CA
First person I spoke with wasn't knowledgeable enough about policy I needed information on. 2nd person did an excellent job.
Lance, San Francisco, CA
“Excellent service by Hiscox”
Josh, Dallas, TX
“Easy and convenient”
My agent was very friendly and made sure I knew everything about my policy.
This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverages are subject to underwriting and may not be available in all states.