Having accounting insurance that covers you for a wide range of potential issues is necessary if you want to focus on serving customers. The following types of coverage can ensure your business’s basic needs will be met:
Why Do Accountants Need Insurance?
Keeping your clients’ books in order is at the core of your business, but there are some problems that can’t be solved on a spreadsheet. For example, what would you do if a fire damaged your offices? How would you go about recovering if someone stole your computers or other equipment? Are you protected in the event an employee or client is injured on the premises? Would your business be able to survive if your most sensitive data was stolen from the Internet?
For these and many other reasons, it is worth it to have insurance for accountants. B2Z Insurance Inc. is the place to turn for accounting insurance that provides you with protection in the event of some unforeseen catastrophe. Without the right level of coverage, any one of these incidents could spell disaster for your accounting firm. We’re your one-stop shop for CPA professional liability insurance or any other type of policy you may need for peace of mind.
What Kind of Insurance Coverage Do You Need?
Business Owner’s Policy (BOP).
This combines commercial property and general liability insurance as well as additional coverages. The idea behind this product is to cover a broad range of contingencies. For example, it covers property damage to your offices and their contents. It also protects for theft of equipment, damage to a client’s property caused by you or your employees, lost income due to a covered event, injuries to clients while in your office, and lawsuits that arise from advertising claims.
Workers’ Compensation Insurance.
Practically every state requires that business owners carry this variety of coverage. It protects employers and employees in the event of any illnesses or injuries suffered while on the job. It helps pay for medical bills as well as covering lost wages. It also eliminates the employer’s liability if the injured worker files a lawsuit. If you do not carry this type of insurance for accountants, you may be subjected to harsh penalties and fines.
One of the most important types of coverage you can have is professional liability insurance for accountants. This helps pay for legal fees and damages in the event a client sues for financial losses. Having this accounting errors and omissions insurance means you won’t have to worry about suffering a fatal blow to your business due to mistakes. It also is advisable to have cyber insurance to guard against the effects of a data breach or any type of cybercrime that results in clients’ information being exposed.