Business Insurance For Bookkeepers

As a bookkeeper, you are expected to help your clients keep their finances in shape so they can carry out their accounting efficiently. This element of trust and pressure means that you are at risk of making mistakes which can prove costly for you.

However, if you are an ICB practice licence holder then it is compulsory for you to have business insurance. Your professional body may call it a requirement but ultimately the cover will protect you should a client accuse you of making an error. As you are dealing with someone else’s finances your experience and ability are always under scrutiny and this can increase the potential for mistakes and claims.

A claim can cause severe financial loss for your business and this is why business insurance can work for you. With the insurance in place you can deal with a claim efficiently and professionally because all costs will be paid and advice and representation is also available. A simple mistake or negligence can cause you a number of problems so make the right decision to put business insurance in place.

Business insurance suitable for bookkeepers

As soon as you put business insurance in place you will realise how important it is for your business. Having peace of mind and the confidence knowing that you are protected can only be a positive thing for you and your business. We have cover to suit your needs and budget so you can be sure that you are covered for all eventualities.

Our business insurance is designed with you in mind. Your clients are heavily dependent on you acting in their best interests and this means making correct decisions and offering the right advice.

However, errors can occur and these mistakes can prove costly for your clients in a number of ways. If you make an incorrect calculation or omit an important piece of data then your client could experience financial losses. Your ability to deal with claims made against you or these losses will be helped by having professional indemnity insurance. This insurance will cover all costs involved and will help to protect your business.

If you have clients that visit your office or if you have to visit them at their premises then you are exposed to further risks. These are risks relating to injury to your customers or damaging their property. At your office there are many risks that could cause injury such as water leaks, faulty power sockets and even cables that they could trip over. If your client becomes injured then you will need public liability insurance because this will provide you with the cover you need to defend claims and pay for any costs.

Read more: Income protection for bookkeepers

Read more: Professional Indemnity Insurance for bookkeepers

Business insurance comes with the following features:

• All claims are covered regardless of their size and the outcome
• A full assessment is carried out to ascertain the nature of the claim before a payment is released
• Your business will be adequately covered to deal with any claim
• All costs are covered and that includes defence costs and settlement costs
• Your business needs are considered before cover is selected
• Costs associated with appearing in court are included
• Regardless of your budget there is cover available

What Are the Benefits?

The following benefits come with business insurance:

• All legal requirements are met as well as regulatory body requirements
• Focus more on your business needs and not on claims
• Protects your finances from spiralling costs
• Advice and representation is readily available
• Clients will see you as professional and honest