Numbers of nearly every kind are often disregarded as being impersonal or cold. Even so, it’s impossible to deny that there are vital numbers at the core of our personal and professional lives. As an accountant, you make sense of those numbers. Despite how clients may feel about numbers, private citizens, small businesses, and corporations need your guidance to navigate their financial existence.
At Pepper, Johnstone & Company, we understand the significance of the accounting industry and of all the professionals who simplify the complex numbers that add up to our aspirations, retirement dreams, or business health. But without the right insurance coverage, you may leave the door open for ruinous litigation or damaging claims from dissatisfied clients—neither of which you can afford.
So, what insurance do accountants need? Let’s take a look at the most important policy options for your profession.
Professional Liability Insurance for Accountants
For accountants, CPAs, auditors, and tax preparers, professional liability insurance is an absolute must-have. Offering advice of any sort opens us up to risk, but financial advice is especially likely to produce strong reactions and charges of blame.
Also called Errors & Omissions insurance, professional liability coverage can help you address claims of negligence and provide you with the funds you need to defend yourself or your firm. Professional liability insurance for accountants can help you and your firm defend against numerous claims, including:
Failure to act and deal in good faith
Without professional liability insurance, you, your firm, and even individual CPAs may be on the hook for legal defense fees, among other costly expenditures. In the event of a claim against you or your firm, professional liability insurance provides you with:
Wages for temporary staff/contractors
Wages for work/services performed
Unforeseen expenses are the last things you need when defending yourself and your bottom line against claims of negligence. Professional liability insurance from Pepper, Johnstone & Company can protect your name, your profitability, and your ability to continue operating in the future.
General Liability Insurance for Accountants
While clients aren’t likely to slip and fall on your financial advice, general liability insurance is a wise choice for businesses of all kinds. Even meeting with a client in your office can expose you and your firm to claims of damage, injury and other costly accusations. If you’re not protected by general liability insurance, you could be at serious risk from incidents such as:
Injuries to clients/members of the public
General liability insurance can protect you in numerous ways by providing you with:
Legal fees and defense costs
The cost of medical bills
Cost of rehabilitation
Cost of repairs to property
As accountants, your work is too vital to take a hit from an in-office accident or fluke injury. Protect yourself, your firm, and your reputation with general liability insurance from Pepper, Johnstone & Company.
Commercial Property Insurance for Accountants
When members of the general public picture an accountant, they likely see someone working with pencil, paper, and maybe a calculator. Of course, that image has changed to meet the 21st century. The accounting profession of today relies on cutting-edge technology, evolving software, and other necessary equipment.
The right property insurance program can cover your valuable assets by providing funds for replacements in the event of damage. Commercial property insurance can protect you and your firm against damaging losses of property, including:
Service-related specialty equipment
As financial professionals, accountants know that every expenditure has an effect. Commercial property insurance from Pepper, Johnstone & Company can protect you from unnecessary property loss and get you back to helping your clients and turning a profit of your own.
Pepper, Johnstone & Company for Accountants & CPAs
Adequate insurance protection isn’t just for high-risk or dangerous industries. As financial professionals, using numbers to craft expert advice for private citizens and corporations, your ultimate determinations can have a tremendous impact on the success or failure of others.
Throughout the accounting industry, CPAs, tax preparers, payroll accounting services, auditors, and billing services all need similar coverage to safeguard themselves against claims of negligence, injury, or general property damage.
With offices in Athens, AL, and Huntsville, AL, Pepper, Johnstone & Company can help you and your firm operate with confidence to the benefit of your clients and yourselves. Contact us today to learn more about the protections you need.
Pepper, Johnstone & Company Protects the Accounting Industry!
Accounting may not seem like a dangerous profession, but offering advice of any kind exposes you and your firm to risk. Financial advice is especially likely to produce strong feelings and claims of negligence. Thankfully, Pepper, Johnstone & Company has the insurance coverage you need to protect your name, business, and bottom line. To learn more about the protections you need in the accounting industry, call 938-200-8972 today or request a quote online.