Insurance for Bookkeepers Simplified

Secure tomorrow with a professional insurance

Insurance for Bookkeepers

One mistake can lead to a variety of liabilities when financial records are handled erroneously. A type of liability insurance, insurance for bookkeepers helps you cover for claims due to mistakes in managing expense tracking and keeping general ledgers for clients. 

If you are running a bookkeeping business or have bookkeepers, you need professional indemnity insurance to help you prepare for legal claims than face the risks without protection.

Aside from Professional Indemnity Insurance, which can cover instances of mistakes and omissions on your part, you should also add other important policies to your coverage.

Insurances you can’t go without in Australia

Creating the ideal insurance package for your business helps you cover all the necessary risks that your business may face. Here’s a list of suggested but not limited to, insurance policies for bookkeepers:

Cyber Insurance

Being in the bookkeeping business, you will be handling private data of your clients. It is important to have this type of coverage in the event that your systems get hacked, you lose client information, information is stolen, or data has been compromised.

Professional Indemnity Insurance

An insurance that a bookkeeper cannot perform duties without.  With the nature of work involved in bookkeeping, it is not impossible to make a mistake. A small error could lead to a legal claim, which will be expensive. Professional indemnity insurance can cover legal claims due to professional negligence.

Office Insurance

Office Insurance covers damage to your office premises internally, including furniture and equipment. Even if your office is at home, this insurance coverage works best if you want the contents protected.

Add more coverage with these insurances

Sparrow Insurance can provide different types of insurance cover, depending on the nature of the business. Some business needs are different from others.

Business Insurance

Business Insurance coverage to cover expenses for damage to property due to fire, theft and other associated perils, but not limited to.

Public Liability Insurance

Public liability insurance is a requirement when leasing a business premises, including a home business.

Workers Compensation Insurance

Workers compensation insurance is a legal requirement if you have employees.

Why do bookkeepers need insurance cover?

The bookkeeping industry is in the business of accuracy that provides little to no room for mistakesA simple mistake, such as an error in a journal entry, can lead to dire consequences, with legal and defence costs. 

Here is why having the right policy falls under the requirements of running such a business:

  • Protect yourself against errors—mistakes are inevitable, legal and defence costs can be expensive.
  • Added protection for your business.
  • Outdated computations or methods often result in cases against you.
  • Prevent litigations, as you are prepared for the worst.
  • Professional indemnity and Public Liability for example, is often required by clients before they trust your services.

Sparrow Insurance is a reliable insurance broker that offer you some of the most reliable insurance products on the market.

If you want to know more about our insurance solutions for your business needs, you can contact us by visiting our website or giving us a call and we will go through the process with you.

FAQs

1. Are there other professionals that would need these kinds of insurance cover?

Businesses that are in the same nature of work as bookkeepers. Contact Sparrow insurance brokers to help you get insured.

2. How do I find the right insurance broker for my business?

Contact Sparrow Insurance to help you with your insurance policy.