Accountant Insurance

This section covers accountant insurance – what you might need, where to get it and how much cover to go for:

Why do accountants need insurance?
What type of insurance do accountants need and what level of cover?
Why compare accountants insurance with Coverzones?

Why do accountants need insurance?

As an accountant, insurance is an essential part of your business risk management. The work you do can have serious repercussions for your clients’ businesses and it makes sense to be properly protected against possible errors. If you are a member of a professional body for accountants, Professional Indemnity Insurance will normally be obligatory. In addition, if you are an employer, you need Employers Liability Insurance by law.

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What type of insurance do accountants need and what level of cover?

Accountants insurance will normally include a number of different types of cover that provide a range of business protection:

• Accountant’s Professional Indemnity Insurance: This will cover you for any errors that you or your staff might make that cause a client to loose money and subsequently take action against you. The minimum level of Professional Indemnity Insurance for accountants is often specified by your professional body and will relate to the level of your fee income.

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• Public Liability Insurance for Accountants: This covers you against a claim from members of the public for death, bodily injury or damage to their property as a result of your business activities. If you work in client offices or have clients visit your office, this cover is strongly recommended. A minimum of £1m cover is normal for a small accountants practice.

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• Employers Liability Insurance for accountants: This covers you for compensation for death or injury caused to any of your employees whilst they are carrying out business for you. If you have employees or sub-contract staff working on your behalf you must have at least £5m cover by law.

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• Professional Insurance for accountants: If you would rather roll all your cover up into a single policy – and tailor the policy to include things like thefts from your car, damage to office contents or interruption to your business operations, you could ask for a quote for Professional’s Insurance, also known as business insurance package.

Insurance for professionals will soon be available here at Coverzones.

Why compare accountants insurance with Coverzones?

Coverzones enables you to compare business insurance online in a just a few minutes; we search a panel of insurers, and present you with a choice of quotes you can compare in your own time. It helps save you money, and makes it easier to set-up all your accountant insurance.

With Coverzones you can also store all your insurance details free on our secure server. You can amend, renew or cancel any of your stored policies online, 24/7/365 and you will always know exactly where to go to retrieve important policy details, should you need them.

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