As a bookkeeper, accuracy is your middle name, but business insurance is there to protect you if anything goes wrong.
Professional indemnity insurance is top of the list for most bookkeepers, as it can cover you if a client sues you for negligence or making a mistake in your work. Public liability insurance is another key cover, protecting you from compensation claims for injury or damage.
Bear in mind that bookkeeper insurance is a requirement of some professional bodies, including the Institute of Certified Bookkeepers (ICB), so if you’re a member, check their rules to find out what cover you need.
Compare quotesIt’s up to you to decide which business insurance covers to buy, based on the risks your business faces, but these are some of the insurance types that are most useful for a bookkeeping business.
Professional indemnity insurance can protect you if you’re sued by a client for negligence or a mistake in your work. For example if an error in your record-keeping leads to your client losing money, or if you breach client confidentiality by copying the wrong person into an email that includes sensitive information. This insurance is often a requirement of bookkeeping professional bodies.
Public liability insurance is the classic ‘slips and trips insurance’, protecting you against compensation claims made by a member of the public for damage to their property or injury. This means it’s particularly important if you visit client offices or if clients visit your premises.
Employers’ liability insurance tends to be a legal requirement if your bookkeeping business employs staff (there are a few exceptions such as some family businesses). It covers claims made against you by an employee or former employee for injury or illness caused by their work.
Business buildings insurance and business contents insurance can help get your business up and running again if your premises is damaged by something like fire, flood or burglary.
You can also add business equipment insurance to protect the bits and bobs that are essential to your work as a bookkeeper.
Need more details? Hear more about your business cover options from our expert team in a quick set of videos. Just choose the cover you’re interested in and get some expert insight into how each option can help your business. You can also check out our business insurance FAQs.