Insurance for Accountants in AU

Security that comes in a package

Insurance for Accountants​

As an accountant, you would be handling the financial statements of your clients. With this type of profession, a lot of risks are involved.

If you’re an accountant, business insurance is your gateway to minimise the risk involved and the financial burden a lawsuit may have on you.

Insurance Coverage for Accountants

If you are one of the financial service professionals, like tax preparers, CPAs, and even bookkeepers who work with sensitive financial information, this only means that you face unique and higher types of risks.

In protecting yourself and your business against the financial burdens from untoward incidents, consider combining professional indemnity with public liability insurance package.

is designed to protect your business from claims arising whilst you’re providing professional advice or services. Professional indemnity insurance can also assist you with the legal defence, compensation, and settlement costs associated with the claims.

Public Liability Insurance

As an Accountant, you are liable for any third-party injury or damage arising from conducting your business and services even in your client’s home. This can be incidents like slips and falls, which public liability insurance may be able to help.

Other Business Insurance Products for Accountants

Risks for Accountants are not only related to practice but to business operations as well. Get covered by other business insurance on top of the above-mentioned policies. These insurance policies below are a recommendation only and are subject to a review of your specific requirements

Management Liability

This insurance type is specifically for private companies and covers claims of wrongful management, employment practices breaches (wrongful dismissal or discrimination actions), crime (theft by employees or third parties), tax audit and statutory fines and penalties.

Business Insurance

This insurance protects your business, covering equipment and property damage from accidents, losses due to theft, fire, glass but not limited to. You may also want to consider Business interruption for the potential loss of income, under certain sections of the business policy.

Tax Audit Insurance

Whether you run a small or large business or work as a contractor. This insurance will cover your business for tax auditing by the ATO.

Cyber Insurance

As accountants, you may maintain a website or a digital record of your customers’ personal information, especially online, you are at risk of a data breach. This insurance policy covers you from data theft.

Workers’ compensation insurance is a mandatory requirement for all businesses to cover their staff and contractors in the event of an accident whilst providing accounting services. Locat states have varied guidelines for this type of insurance so it’s best to ask reputable insurers.

Personal Accident and Illness Insurance

This insurance policy is for every individual business owner or contractor, as accidents and sickness do happen to business owners and contractors. This insurance may assist your business to enable you to employ staff to cover you the business owner while you are unable to work.

Get in Touch with Sparrow Insurance

Here at Sparrow Insurance, our insurers offer insurance solutions for our business owners in Australia. You can easily obtain an insurance policy fit for your business and your requirements. Get an insurance quote from us by calling us directly or visiting our website. Give yourself peace of mind. Get insurance cover today.

Get an insurance review or request a quote online now.

FAQs

1. How much does this insurance cost?

The cost depends on the level of cover you want to get and the business type and service you offer. Sparrow Insurance can assist you, you can get help with a policy to have your business and goods insured.

2. How do I apply for this insurance plan?

Talk to us through the Contact Us page or give us a call at (07) 550 28326. We can proceed with the initial consultation, where we can assess your business operations. From there, our trusted insurance brokers can present to you several packages to choose from.

3. Do I need workers compensation insurance?

Yes, if you employ staff or contractors. Workers compensation is mandatory in Australia, although the rules and regulations may vary from territory or state.

4. Is there a fee for additional coverage?

Extras in insurance cover come with additional fees.