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As an accountant, you need to deliver accurate professional advice to ensure that your clients financials are in order. But if you make mistakes in your work, you can face significant legal liability. Provide helps accountants quickly & easily protect themselves from liability, so that you can run your business with total peace of mind.
Get broad & affordable coverage today, with Provide.
Accountants Insurance Package from just $19/month
- Professional Indemnity Insurance
- Commercial Property Insurance
- Public Liability Insurance
- Business Interruption Insurance
- Work Injury Insurance
What does Accountants Insurance cover?
|Coverage||Explanation||Importance for accountants|
|Professional Indemnity Insurance||Protects you from lawsuits related to accounting work||Critical|
|Commercial Property Insurance||Protects your business premises against property damage, e.g. fire, explosions, certain types of water damage, etc.||Critical|
|Public Liability Insurance|
Protects you against liability to third-parties for property damage or injuries.
E.g. clients slipping & falling in your office due to you negligently leaving the floor wet.
|Work Injury Compensation Insurance (WICA Insurance)||Protects your employees if they suffer work-related injuries/sickness.|
Legally required for all manual workers (e.g. fitness trainers), or workers who earn <$2,600/month
|Business Interruption Insurance||Provides cash benefit if you cannot operate your consulting business due to covered reasons, e.g. fire at your office.||Very good to have|
|Cyber Insurance||Protects you if you suffer a cyber attack. Covers IT restoration costs, data breach liability, PDPA liability, and more.||Very good to have|
Commercial Property Insurance: You’ll need to protect your Beauty Service premises. You’ve already invested lots of money into renovating your shop, so you certainly don’t want to pay for rebuilding it if it gets damaged.
This policy will cover your property, such as: beauty shop premises, renovations, fixtures & fittings, equipment like massage chairs or nail cleaning tools, furniture like chairs and tables, electronic equipment like computers, and other miscellaneous property.
Commercial Property policies cover a very broad range of damage, including fire, certain types of water damage, explosions, vandalism, burglaries, and more.
Public Liability Insurance: With a beauty shop, you’re going to have many customers coming in and going out of your store every day. If any of your patrons get injured due to your negligence, you could suffer a personal injury lawsuit. A Public Liability policy will protect you if you get sued for causing injuries or property damage. It covers legal costs like lawyer’s costs (which can be massive), and settlements/damages that you may need to pay.
Work Injury Compensation Insurance (WICA Insurance): MOM requires businesses to carry this insurance for every manual worker, and all workers who get paid $2,600/month and less. Examples of manual workers include: nail technicians, beauticians, barbers, hairdressers, slimming assistants, cleaners.
WICA Insurance covers work-related medical expenses for injuries, or sickness. This includes Covid-19 infections due to work.
Business Interruption Insurance: This covers your operating expenses if you can’t run your dance studio, due to a covered reason – for instance, if a fire destroys your premises. This is a great cover to have, because it helps you to pay for costs like rent, salaries, and other overhead while you can’t generate revenue.
Cyber Insurance: Very useful for clients to cover themselves against the cost of cyber breaches. Covers the cost of restoring IT systems after a breach, data liability, and business interruption costs if you can’t run your business due to a breach.
How much does Accountants Insurance cost?
Coverage amount (example)
From $19/month, for a comprehensive Accountants Insurance Package deal
$10 million common law annual limit
$45,000 medical expenses cover per worker
Buy Accountants Insurance From $19/Mth
Why use Provide for Accountants Insurance?
- Save up to 25% on your premiums
- Compare quotes from multiple insurers
- Industry experts to provide tailored advice
- Available by phone 7 days/week