Bookkeepers Insurance in Singapore

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As a bookkeeper, your clients trust you to keep accurate financial records to keep their business in order. However, if you make mistakes while performing your work, bookkeepers can face serious litigation issues. WIth Provide, you can tailor a policy that protects you, your employees, your customers, and the premises/equipment you use.

What does Bookkeepers Insurance cover?



Importance for bookkeepers

Professional Indemnity Insurance

Protects you from lawsuits related to bookkeeping work


Cyber Insurance

Protects you if you suffer a cyber attack. Covers IT restoration costs, data breach liability, PDPA liability, and more.


Commercial Property Insurance

Protects your business premises against property damage, e.g. fire, explosions, certain types of water damage, etc.

Critical if you have an office

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.

Good to have

Work Injury Compensation Insurance (WICA Insurance)

Protects your employees if they suffer work-related injuries/sickness.

Legally required for all workers who earn $2,600/month or less, and all manual workers

Business Interruption Insurance

Provides cash benefit if you cannot operate your bookkeeping business due to covered reasons, e.g. fire at your office.

Good to have

What are some claims examples for bookkeepers?

Client sues you for mistakes in bookkeeping work:

business lawsuit

You’re engaged to prepare the books for a large company. Your client uses the books prepared by you to conduct fundraising activities. Several weeks later, your client comes back angrily, stating that they lost several fundraising deals because the investors discovered errors in their books. These errors were made by you. Your client files a legal claim against you, alleging negligence. They demand compensation for the losses they suffered as a result of the failed fundraising. You have a Professional Indemnity Insurance policy, so the insurance company steps in to defend you. The lawsuit ends up being settled out of court for $270,000. The insurance company pays for these costs for you.

Cyber breach exposes private client data:

cyber insurance

You wake up one day to find all your work files have been deleted.  dozens of missed phone calls and text messages. Your clients are frantically trying to reach you, demanding an explanation as to why their confidential financial information was leaked on the internet. You later discover that you’ve been hit by a cyber breach. Your clients’ private financial data is being sold on the Dark Web. Your clients file a lawsuit against you for this leaked data. 

Since you have Cyber Insurance, the insurer would pay for your legal defense costs. The insurer would also pay for an IT consultant to assist with recovering your data. 

Employee injured while working: On a workday, one of your employees was struck by a car while on the way to his lunch break. He suffers a fracture on his arm. Your employee has to undergo surgery to stabilise his injured arm. He was also given 4 weeks of medical leave by the hospital. His medical bill ends up being $10,000. Since you purchased WICA Insurance, the insurance company will pay for your worker’s medical costs and his lost wages. 

work injury

How much coverage do I need for my bookkeeping business?

Professional Indemnity Insurance: It’s good to have at least $250,000 to $500,000 coverage. 

Cyber Insurance: Consider at least $250,000 to $500,000 coverage against cyber incidents.

Commercial Property Insurance: Your coverage amount should be sufficient to cover the costs of restoring your entire office premises, if it were to be destroyed. Combine the costs of all your renovations, equipment, and belongings stored there. It’s advisable to consider a bare minimum of $100,000.

Public Liability Insurance: Consider a minimum of $250,000 coverage.

Work Injury Compensation Insurance: You should insure 100% of your workforce. MOM requires a minimum of $45,000 medical expenses cover, per worker.

How much does Bookkeepers Insurance cost?


Coverage amount (example)


Professional Indemnity Insurance


From $42/month

Cyber Insurance


From $49/month

Commercial Property Insurance


From $19/month, for a comprehensive Consultants Insurance Package deal

Public Liability Insurance


Work Injury Compensation Insurance (WICA Insurance)

$10 million common law annual limit

$45,000 medical expenses cover per worker

Business Interruption Insurance


Why use Provide for Bookkeepers Insurance?

  • Save up to 25% on your premiums

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