Business Insurance For Accountants

The nature of your industry and working as an accountant means that you are always on hand to offer advice and assistance to your customers. Your customers value your knowledge and your ability to help them with their finances.

You may have many years’ experience that you rely on daily but sometimes mistakes can happen. You may believe that business insurance is not necessary, after all, you are good at what you do but all it takes is one mistake and that can prove costly. If an error or negligence causes a customer to experience financial losses, then they have the right to make a claim against you.

We are confident that our business insurance will work for you because any claim made against you can prove costly so you need to ensure that you are protected. The costs associated with defending a claim or even paying compensation can spiral out of control and this can damage your business. With the right insurance all costs are covered which means that you can relax and focus on the running of your business.

Do not ignore the potential risks that surround your work because that can prove costly. Our business insurance is priced according to your needs and circumstances but it will protect you in every possible way.

Your customers are crucial to your business but they have the upper hand when it comes to their rights and making a claim so ensure that you are prepared.

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

Business insurance comes with these features:

• Claims are covered regardless of the outcome
• Assessment is carried out before payments are released
• It will form an important part of your business tools
• Defence costs and compensation costs are paid for
• Business needs are considered before cover is put in place
• Costs linked to appearing in court will be included
• Cover to suit your budget.

What Are the Benefits?

The benefits that come with this cover are:

• Complete compliance when it comes to legal requirements and regulations
• Focus on your business needs
• Protected financially
• Advice is available should you need it as well as representation
• Your business will have a professional outlook