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What kind of insurance is best for bookkeepers?
As a bookkeeper you provide a critical function to other small businesses. At Hiscox we understand the unique risks you face, that's why we offer specialized bookkeepers insurance customized to fit your small business needs.
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:
- Journal entry error: As a bookkeeper you are responsible for recording the day-to-day financial transactions for small businesses which can be an activity prone to simple human error. Professional liability insurance could protect you if you face a claim for negligence, even if you haven’t made a mistake.
- Negligence: A client has hired you as bookkeeper. While working for the client you provided revenue and expense information to the client’s accountant who prepared the client’s taxes. The client was audited, and irregularities were found which resulted in a fine from the IRS. The client sued you for negligence. Professional liability insurance can protect against claims of negligence and will appoint an attorney if needed, even if they haven’t made a mistake.
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:
- Property damage: You’re visiting your client’s office for your quarterly review, and you accidentally spill coffee on your client’s brand new computer, damaging it beyond repair. General liability insurance will cover a claim that may arise, up to your limits of liability.
- Bodily injury: You have rented office space on the second floor of an antique house that had been renovated for commercial use. A client who was leaving the office fell down the stairs when a handrail gave way, suffering injuries that required treatment at the emergency room. The client sued for his injuries. General liability insurance protects against third-party claims of bodily injury, associated medical costs and property damage.
- Personal injury: A bookkeeper at your office made disparaging and untrue remarks about a client to a friend. The client turned out to be related to the friend, and the conversation got back to the client, who sued the bookkeeper for slander. General liability insurance protects recruiters against third-party claims of slander, property damage, bodily injury and associated medical costs.
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:
- Bookkeepers manage large amounts of sensitive financial data on a daily basis. Loss or damage to your data by a computer virus or fire could result in a loss of income for your business if you could not function. Our standard business owners policy includes up to $10,000 of coverage to replace or restore your electronic data.
- For example, if you spill your coffee on a computer system causing irreparable damage, a business owner’s policy could cover the cost to replace the system, letting you get back to work.
Learn more about business owners policy.
Why bookkeepers choose Hiscox:
- Tailored coverage: We specialize in businesses like yours and tailor coverage to the risks in your field.
- Confidence: Hiscox Insurance Company Inc. is ‘A’ rated (Excellent) by A.M. Best.
- Coverage for contracts: Our professional liability coverage satisfies most standard contract insurance requirements.
- Passion for service: Knowledgeable agents provide exceptional service – 4.8/5 of people surveyed recommended us.
- Fast and simple: Online quotes or speak to a licensed agent – immediate coverage.
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
“Small Business Coverage”
The overall service was excellent and very easy to customize to the needs for coverage. I would hope that Hiscox would include unemployment insurance options to provide a complete package for a small business. This would be a ... convenient and efficient "one stop" shopping for small businesses to cover all insurance requirements
Robert, Wellington, OH
“Excellent Customer Service”
I have been a customer of Hiscox for years. They are always so friendly and nice.
Debra, Fort Myers, FL
“Excellent service by Hiscox”
“Would recommend them.”
Wish I could have finished it online. I had to make a phone call to complete the application. The agent was very helpful and informative.
Duane, Marietta, GA
“Excellent service by Hiscox”
It was good, all my questions were answered promptly.
Stephanie, Golden, CO
Great customer service. They have been able to customize all of my requests and offer very competitive pricing.
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.