As an accountant you have many things to consider. The day-to-day running of your business, your staff and your customers. You promise your customers that you will provide them with a service that they can depend on but sometimes this is not always true.
Your customers rely on your service to help keep their finances in check and therefore they believe in everything that you tell them. However, working this closely with customers increases the risk of mistakes and this can lead to claims being made against you, but this is where business insurance can make the difference.
Professional indemnity insurance is designed to give you peace of mind because you are covered for any work that you undertake. You strive to do things right but occasionally mistakes occur as the stresses and strains of deadlines can take their toll. A simple typing error or a wrong calculation can prove costly for your client, especially if they are fined for providing the wrong information. This means that you could find yourself defending a claim for your error as well as negligence.
Read more: Professional Indemnity Insurance for Accountants
As well as offering advice your customers will visit your offices and you may even visit their homes or their offices. You could have damaged furniture that can cause injury or they could trip over a pile of files left on the floor. You could even damage some of their home or office while working. This is where public liability insurance will cover you for any injury or financial loss experienced by your customers.
Read more: Income Protection For Accountants