Accounting Firm Insurance in Charlotte, NC and Matthews, NC
Accounting firms require special types of insurance to help address common risks. Certified public accountants (CPAs) and accountants work with sensitive customer information daily and advise clients about financial matters.
Insurance for accounting firms can help address common perils, but it’s crucial to tailor an insurance plan to meet the needs of your organization. Contact the accounting insurance experts at JM Hamilton & Associates in Charlotte, North Carolina, today to learn more about your options and get a quote.
What Is Accounting Insurance?
Accounting insurance includes different types of business coverage to help protect your company from the unique risks you face in the financial services industry.
- General liability insurance helps pay claims if a client alleges that your accounting business caused bodily injury or property damage to a third party.
- Commercial property insurance helps pay to repair or replace your owned or rented building and equipment, including office furniture, computers and documents.
- Business income insurance helps replace lost income if you need to shut down your business temporarily to allow for repairs after a covered event.
- Errors and omissions (E&O) insurance helps provide financial protection to accountants if clients allege unsatisfactory work.
In addition to the core insurance types, accounting firms may consider tailoring their coverage with these policies:
- Commercial auto insurance
- Employment practices liability insurance
- Workers’ compensation insurance
- Umbrella insurance
- Home-based business insurance
- Cyber liability insurance
Who Needs Accounting Insurance?
Several organizations and business types could benefit from various types of accounting insurance, including:
- CPA firms
- Payroll accounting services
- Accounting private practices
- Billing services
- Tax preparers
How Much Does Accounting Insurance Cost?
Every accounting business is different, so insurance premiums vary greatly. Insurance companies use a number of metrics to set accounting insurance premiums, including your company’s size and location, annual revenue, property value, claims history and the number of employees.
Your agent can offer ways to keep your business insurance premium costs down. They can help identify policies that may benefit your company and get you a quote based on your company’s needs.
Get the Insurance You Need for Your Accounting Business
Contact the agents at JM Hamilton & Associates to find out how accounting insurance can help protect the long-term financial stability of your organization.