CPA, Accountant and Bookkeeper Insurance

Providing Business Liability Insurance in Austin, Round Rock and All of Central Texas

Do Accountants need insurance?

Accountants, CPA’s, tax preparers and bookkeepers need insurance.  Despite your most earnest efforts and due diligence, an error could happen.  No business should absorb the cost of claim, when affordable premiums can be budgeted throughout the year.  Another reason for insurance is the duty to defend. Errors and omissions insurance for accountants provides a duty to defend your business if sued.  You can control your activities, but you can’t control the activities of litigious past clients. Even a frivolous lawsuit can cost $25,000 and up to defend.  The average cost to defend a tax professional claim is more than $25,000, while other claims can average more than $50,000 to resolve. Why absorb that cost when you can pay years of premium for that amount. We know you are committed to your business, but you have a potential exposure just by being in business.  We can help you place tailored, effective professional liability insurance for you.

Accountant, CPA, bookkeeper, consultant

Does your policy cover your firm for what you actually do?  Not all accountant professional liability policies are created equal, and each has a section outlining the professional services it covers.  It is important to review your policy with your agent to make sure it is tailored to your business. Whether you are an accountant, bookkeeper, Certified public accountant, or consultant, we have a policy for you.

Insurance for CPAs, Accountants, and Bookkeepers in Austin, Texas

At Sunstone, we offer statewide, and in some cases, multi-state options for your accounting insurance.  We are centrally located in Austin and Round Rock, Texas, but we help clients place their insurance in the surrounding area as well. You are mobile, we serve you where you are. Call us today!

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What Kind of Insurance Does My Accounting Firm Need?

The cornerstone of an accountant’s insurance program is a quality professional liability (also called an errors and omissions) insurance policy for accountants.  No accountant should operate without one.

Your firm may also need general liability insurance, property insurance, and cyber coverage.

If you have employees you also need workers compensation insurance, and employment practices insurance

Most accountants can place their general liability and property together on a business owners package policy (“BOP”).  Business owners package policies are available from most carriers. Some, but not all, will also place the professional liability on the same BOP.

Sunstone Insurance Agency can place all the necessary lines insurance coverages for accountants for your firm.

Accountant Liability Insurance Cost

Accountant liability insurance can be very inexpensive, relative to other errors and omissions policies.  Professional liability varies widely from industry to industry, but accountants can still get affordable errors and omissions insurance.

Examples of claims that may be covered by an accountants errors and omissions policy

Errors in preparing a client’s tax return resulting in penalties and interest to the client.

Errors in calculating the cost due under an insurance policy.

Errors in performing payroll or bookkeeping services that result in an overpayment by the client.

Errors in preparing a business return that result in overpayments to the IRS, and the business is unable to recoup the payments.

Cost incurred for the accountant to respond to a disciplinary hearing.

Improper audit procedures, or errors in an audit.

An accountants errors and omissions policy will cover your firm from the multitude of exposures faced by accountants, CPAs, bookkeepers and consultants.

Marissa Brinkman
Marissa Brinkman
21:48 18 Feb 20
Rhett and Debbie are efficient, friendly, and informative! They have excellent customer service and a very quick turnaround.
Cindy Brummer
Cindy Brummer
23:36 17 Feb 20
Rhett, Debbie, and the team at Sunstone are my go-to. They make sure I have the right amount of coverage for my company and that I'm not overpaying. When I need documents or have questions, they are quick to respond and help me. For example, when I needed to increase cyber coverage last year, they did the research quickly, let me know my options, made a recommendation, and we were able to increase coverage. Even better bonus -- the increase wasn't as much as I had expected. Woo-hoo!
William Hines
William Hines
18:27 21 Sep 15
I highly recommend Rhett Braniff for you insurance and risk management needs.I have known Rhett for a long time, so I trusted him with my insurance. Insurance for my business is important to me, and I wanted to make sure I was properly covered. When my policies were coming up for renewal, I asked Rhett to review them. After looking them over, Rhett was able to identify some key areas of my coverage that needed attention. He presented me with several options that allowed me to get great coverage that fit our budget. I secure with my insurance, and I didn’t have to spend a lot to do it.Most of all, Rhett made it easy. He broke down the various coverage areas in easy to understand language, and was able to answer all of my questions. Rhett was sensitive to my time constraints, and didn’t unnecessarily burden me with the process.I recommend Rhett for all your personal or commercial insurance needs.

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