Insurance For Tax Preparers

What type of insurance do I need for my Tax Preparation business?

Most Tax preparers businesses have a Business Owner's Policy called a BOP. A BOP is a great becasue it combines three general insurance coverages and saves you money.

We recommend these products as a base:

• Business Owners Policy: If you own a small business, a Business Owner's Policy, or BOP, protects you from liability claims and lawsuits; safeguards your buildings, equipment and inventory; and covers you financially if your business unexpectedly shuts down from a covered loss.
• General Liability Insurance: General liability insurance offers financial protection to businesses in case they cause harm or are accused of causing harm to individuals or their property.
• Professional Liability Insurance: Errors and omissions insurance (E&O), also referred to as professional liability insurance, safeguards businesses in the event that their employees make errors or omissions in the professional services rendered to customers or clients.

How Much Does Tax Preparers Insurance Cost?

• The size of your business
• How many employees work for you
• If you keep customers information stored in a data system
• If you have trucks or vehicles or tow equipment

Your Tax preparers business may also need other types of business insurance, like:

• Commercial Auto Insurance: Commercial auto coverage pays for injuries and property damage caused by a company leased or owned vehicle. It's required in most states for business-owned vehicles.
• Commercial Umbrella Insurance: Commercial liability umbrella insurance boosts the limits of general liability insurance, commercial auto insurance, and employer's liability insurance to protect against the most expensive kinds of lawsuits.
• Cyber Insurance: Cyber insurance, also known as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy provided by an insurance carrier to minimize risk exposure by covering expenses associated with damages and recovery following a cyber-related se
• Workers Comp Insurance: Workers' compensation, also known as "workers' comp," is a program mandated by the government to offer benefits to employees who experience injuries or illnesses related to their work.

Similar professions and Tax Preparers business insurance?

• Accountants and auditors
• Bookkeepers
• Financial advisors
• Stockbrokers
• Tax preparers