Accountant & CPA Insurance
Accountant and CPA insurance is insurance designed to protect accountants and CPAs from the risks they experience through the course of their work. Choosing the right accountant and CPA liability insurance is crucial as it can protect against expensive claims, such as a customer claiming an accounting error cost them and suing your business for the damages.
Luckily, getting accountant and CPA insurance is easy with the Progressive Advantage® Business Program. Our insurance experts will help address any questions you may have and start a quote in just a few minutes.
How much does accountant & CPA insurance cost?
Accountant and CPA insurance cost varies based on many factors, such as business size and coverage risk. For example, an accounting firm with three employees and a few clients will have a different cost to insure than one with thirty employees and many clients.
Does my accounting & CPA business need professional liability coverage?
Professional liability coverage, also called errors and omissions (E&O) insurance, is sometimes regarded as the most important coverage on an accounting and CPA insurance policy. That’s because E&O insurance protects accounting businesses from claims of negligence, along with the cost of defending them.
For example, a client claims that an accounting error by your firm lead to the loss of thousands of dollars and sues. Professional liability coverage would help defend your business, regardless of whether the claim is legitimate.
Other accountant & CPA insurance you might need:
- General Liability: This coverage protects against claims resulting from third party damage or customer injury. For example, while doing an in-home consultation, one of your business’s CPAs accidentally breaks a customer’s expensive vase. General liability could help cover the cost to replace it.
- Business Owners’ Policy (BOP): A BOP rolls general liability with commercial property damage coverage, along with any additional coverages you select, into one policy.
- Workers’ Compensation: If you have employees, you are almost always required to carry workers’ comp. It protects against injuries and illnesses that occur while working.
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Starting an accounting and CPA insurance quote is easy. Just call or click today and get started with the protection you need for your business.