Bookkeeping insurance
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Why do you need bookkeeper insurance?
Whether you specialise in small to medium-sized businesses, sole traders or startups – or do a bit of everything – your clients rely on you for critical support. Errors and mistakes do happen, and bookkeepers’ professional indemnity insurance could be a make-or-break cover, along with protection for your employees, if you have a team.
- cover for hard-hitting claims for mistakes and errors
- professional indemnity insurance for bookkeepers (UK-specific)
- peace of mind, knowing your hard work is covered if a crisis hits
What does bookkeepers insurance cover?
We’ll start with professional indemnity insurance for bookkeepers, which can cover you against mistakes and errors in your client work. From there, you can add public liability cover for injuries and property damage – you’d be surprised what can happen in a small office – and employers’ liability insurance for your team, if you’ve hired anybody.
Public liability insurance
In case someone is injured or their property gets damaged, because of your bookkeeping business.
Employers’ liability insurance
In case something happens to an employee while they’re working for your bookkeeping business.
Professional indemnity insurance
In case you’ve made an error in your bookkeeping, or provided a service that didn't meet the expected standards.
Business and office equipment insurance
In case things like laptops or office filing cabinets are lost, stolen, or damaged.
Legal expenses insurance
In case you’re faced with legal costs from running your business.
Personal accident insurance
In case anyone you’ve covered is accidentally injured, at or outside of work.
Public liability insurance
In case someone is injured or their property gets damaged, because of your bookkeeping business.
What’s typically covered by public liability insurance for bookkeepers?
Claims against your business for:
- damage to someone’s property, because of your work
- an injury caused by your business activities
- accidental damage or injury caused by your employees
If you do employ anyone, you’re usually required by law to have employers’ liability insurance too.
For example:
- a client visits your office and trips over a computer cable, twisting their ankle
- you spill coffee on a client’s laptop, causing damage to the screen and keyboard
Read more about public liability insurance
Employers’ liability insurance
In case something happens to an employee while they’re working for your bookkeeping business.
What’s typically covered by employers’ liability insurance?
Claims against your business for:
- an employee, including a temp or casual worker, suing you after falling ill because of working for you, or
- making a claim for an injury they’ve suffered through working for you
**Employers’ liability insurance is required by law if you have people working for you. Without it, you could be fined up to £2,500 a day for each employee.**
For example:
- one of your employees develops chronic back pain after sitting for long periods of time on an unsuitable desk chair
- a year-end temp is reaching for some files but accidentally pulls down a box of computer equipment, breaking a bone in their foot
Professional indemnity insurance
In case you’ve made an error in your bookkeeping, or provided a service that didn't meet the expected standards.
What’s typically covered by professional indemnity insurance for bookkeepers?
Claims against your business for:
- advice you’ve given which turns out to be incorrect
- other errors in your bookkeeping or activities which end up costing your client money
For example:
- you fail to tell your client about some new tax legislation and they get a fine from HMRC as a result
- you mix up two client records, and send confidential files to the wrong person – they end up being one of your client's competitors, and your client suffers a financial loss as a result
Read more about professional indemnity insurance
Business and office equipment insurance
In case things like laptops or office filing cabinets are lost, stolen, or damaged.
What’s typically covered by business and office equipment insurance?
- theft of the equipment you use to run your business, while at work or out and about
- accidental loss, flood, fire or damage to your equipment
For example:
- a flood in your home office damages your work phone and scanner
- someone breaks into your office and steals your laptop
Read more about business and office equipment insurance
Legal expenses insurance
In case you’re faced with legal costs from running your business.
What’s typically covered by legal expenses insurance?
- legal expenses resulting from your day-to-day bookkeeping activities, like an employee dispute
- the cost of making or receiving legal claims relating to property damage, nuisance or trespass
- HMRC investigations, or tax and compliance disputes
- includes a tax advice helpline, a 24/7 confidential legal helpline and crisis support to help protect your reputation as a trusted bookkeeper
For example:
- one of your employees brings a case against you for unfair dismissal
- your small office is vandalised and you need to begin legal proceedings
Read more about legal expenses insurance
Personal accident insurance
In case anyone you’ve covered is accidentally injured, at or outside of work.
What’s typically covered by personal accident insurance?
- injury or death at or outside of work, for anyone covered by the policy
- lost income, medical costs and hospitalisation benefit
For example:
- you slip on a wet floor in the supermarket, breaking your arm
- an employee cuts their finger over the weekend, keeping them off work for a week
Read more about personal accident insurance
How much does bookkeeping insurance cost?
Find out how much you’ll pay by comparing prices from a range of trusted insurers. You choose what goes into your policy, so you only pay for what you need.
Prices start from £4.78 per month
Get your quotes in 7 minutes – prices are guaranteed for 30 days.
Get your tailored quotes in 7 minutes
How we work out example prices We take the highest price from the bottom 10 per cent of all our customers paying in monthly instalments (based on data from 1 Jan 2021 - 31st August 2021). Most customers pay more than this but some pay less.
Example bookkeeping insurance quotes, real prices
£19.56 /month
£173.88 /year
A bookkeeper dealing with small and/or sole trader businesses
- 4-5 years' experience
- Sole trader
- No employees
- Based in Portsmouth
Public liability
£1,000,000
Employers’ liability
Not included
Professional indemnity
£100,000
£61.47 /month
£546.40 /year
A bookkeeper company with one employee, dealing with small to medium-sized businesses
- 5+ years' experience
- Limited company
- 1 employee
- Based in Manchester
Public liability
£1,000,000
Employers’ liability
£10,000,000
Professional indemnity
£2,000,000
How we work out example quotes These examples are real quotes from our online system (created 10/09/2020). They’re based on a range of factors, like employees and location. Your own quote will be based on what you tell us about your business. Prices may go up or down from day to day, so the prices you’re quoted may differ to the ones you see here.
What kind of excess should I expect?
An excess is an amount you pay towards any claim you make on your insurance. For example, if your excess is £250 and you make a claim worth £1000, your payout will be a maximum of £750.
| Insurance cover | Lowest excess | Highest excess |
|---|---|---|
| Professional indemnity | No excess | £2500 |
| Public liability | £100 | £2500 |
| Employers' liability | No excess | No excess |
| Business and office equipment | £50 | £750 |
The figures above are for guidance only and any excess applying to your quote may differ. You’ll get a breakdown of the excesses for each quote when you compare with us.
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We handle claims, so you can get on with business
How do I choose insurance?
Making sure you have the right type and level of business insurance can be the difference between getting a claim paid and having to cover the cost of an expensive accident yourself. Read our tips for guidance on what to consider when buying a policy.
Which type of workers do I need insurance for?
Will tools insurance cover all my equipment?
Does bookkeeping insurance cover my work correctly?
Do I need cover for other types of work?
Which public liability cover limit should I choose?
Which type of workers do I need insurance for?
Employers’ liability insurance is a legal requirement if you employ people.
If you have people working for you, including bona fide subcontractors (BFSC), labour-only subcontractors (LOSC), part-timers, or full-time staff, employers’ liability insurance is required by law.
Read on for our simplified guide to the difference between labour-only subcontractors and bona fide subcontractors.
Will tools insurance cover all my equipment?
Depending on what you use to do your work, you may need other covers.
You may need more than tools insurance – for example, business equipment insurance if you have a work laptop, plant insurance if you use machinery.
Does bookkeeping insurance cover my work correctly?
Make sure you're picking the right cover to protect you properly. It's important to know that if you have another trade or job, you'll need additional cover. For example, do you need to consider accountancy insurance or [clerical / secretarial services?
Do I need cover for other types of work?
If you provide these services alongside building work, make sure you’re covered:
Other types of insurance
Which public liability cover limit should I choose?
Think about the maximum possible loss your business could face in the event of a claim, and make sure you take legal fees and damages into consideration. You can choose from three levels of coverage – £1 million, £2 million, or up to £5 million.
Talk to an expert
Our team of UK-based insurance experts are here to help, Mon 09.00am - 05.30pm, Tues 09.00am - 05.30pm, Weds 09.00am - 05.30pm, Thurs 09.30am - 05.30pm, Fri 09.00am - 05.30pm, Sat 09.00am - 02.00pm
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How do claims work?
Unlike price comparison websites, we take the hassle out of claims for you. We know how important it is to get your business back on track quickly – and with a minimum of fuss. That’s why you get access to your dedicated claims any time, day or night. Call them on 0333 207 0560 or claim online. They’ll do their best to be fair and supportive. The figure below is rounded across our range of products. Our claims process may vary for different products and operates on a ‘claim by claim’ basis.
£30 million in claims paid out in 2019
Paying 80% of settled claims within 24 hours in 2019
Chosen by 800,000 small businesses
We started out as a team of five back in 2005. We’ve grown since then with 800,000 customers across 1,500 trades now trusting us to provide their business insurance.
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Rated 4.7/5
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Bookkeeper insurance FAQ
So, do bookkeepers need insurance to operate? Whether you’re new to buying business insurance or you’ve been trading for a while, here are the answers to some commonly asked questions about insurance for bookkeepers. You can also check out our business insurance FAQs.
Your clients rely on you for the highest level of professionalism and attention to detail. But mistakes do happen, and professional indemnity insurance is a top priority for most bookkeepers, because it can cover you if a client sues for negligent errors.
Another thing to bear in mind is requirements from certain professional bodies, like the Institute of Certified Bookkeepers (ICB). You’ll need adequate bookkeeping professional indemnity insurance to become a member, and to comply with regulatory requirements for the sector.
Yes. It’s important to make sure you have the right type and level of insurance for the different types of work you do. For example, if you’re a plumber, you may also do building work on certain jobs – you’ll need additional cover for this, but you can have it all on the one policy. When you start your quote, you’ll have the option to add another trade or profession to your policy. If you need to add a third trade, give us a call on 0333 043 8527 and one of our insurance experts will help you set up your policy in minutes.
If you change your business legal structure from sole trader to limited company mid-way through your policy, give us a call straight away on 0333 043 8527. It’ll only take us a few minutes to cancel your existing policy and replace it with one that correctly covers your new legal structure. It’s worth bearing in mind that your insurer and premium amount may need to change.
This will depend on whether you have employers’ liability insurance in place. Public liability insurance is designed to protect your business against the consequences of legal action brought by members of the public for injuries or damage to their belongings. But when it comes to your employees causing injury or damage, this protection only activates if you also have employers’ liability insurance.
If you employ people, you’re required by law to have employers’ liability insurance.
There’s one exception here. Family businesses that aren’t incorporated as a limited company are not legally required to have employers’ liability insurance. The government defines a “family business” as one where all your employees are closely related to you (as a spouse, civil partner, sibling, child, parent, grandparent, grandchild, step-parent, stepchild or half-sibling). So if you run an unincorporated family business and you choose not to get employers’ liability insurance, it’s important to know that your public liability insurance wouldn’t cover you against damage or injury caused by your team.
We create this content for general information purposes and it should not be taken as advice. Always check policy documentation for details and seek professional advice. Read our full Terms and Conditions
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