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Bookkeeping Insurance

Bookkeeping Insurance

Having a bookkeeping business brings many advantages, but it also carries certain risks. To protect yourself and your business, it is crucial to have the proper insurance. 

Bookkeeping insurance is a type of insurance that covers the professional services of a bookkeeper. It is designed to protect the bookkeeper and the business from potential claims made by clients or other third parties. The coverage may include errors and omissions coverage, product liability coverage, and cyber liability coverage.

Who Needs Bookkeeping Insurance?

Any bookkeeper should consider purchasing a dedicated bookkeeping insurance policy. It is particularly important for bookkeepers who work with a variety of clients, handle sensitive data, or provide products or services to their clients. By having insurance, the bookkeeper and their business can be protected from any claims that may arise from their work.

Types of Bookkeeping Insurance

There are several different types of bookkeeping insurance available. The most common types are professional liability insurance, cyber liability insurance, and product liability insurance.

Professional liability insurance covers claims arising from errors or omissions in the bookkeeper’s work. This type of coverage can also protect against claims of negligence or other harm caused by the bookkeeper’s services or products.

Cyber liability insurance protects against claims arising from data breaches or other cyber security incidents. This type of insurance can help cover the cost of notifying affected clients and investigating the incident, as well as any damages that may arise from the incident.

Product liability insurance pays for claims arising from any product or service provided by the bookkeeper. This type of insurance can help protect the bookkeeper from claims of negligence or other harm caused by their products or services.

How Much Does Bookkeeping Insurance Cost?

The cost of bookkeeping insurance will vary depending on the type and amount of coverage purchased. Generally, professional liability insurance is the most affordable type of bookkeeping insurance, whereas cyber liability insurance and product liability insurance will generally cost more. In general, you can expect to pay between a few hundred to several thousand dollars. 

Bookkeeping Insurance Requirements

When purchasing bookkeeping insurance, it is vital to make sure the policy meets your business’s needs. Each insurance company will have different requirements, so it is important to read the policy carefully. It is also essential to ensure the policy covers all of the services and products the bookkeeper provides.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 8721 Accounting, Auditing, and Bookkeeping Services
  • NAICS CODE: 541211 Offices of Certified Public Accountants, 541213 Tax Preparation Services, 541214 Payroll Services, 541219 Other Accounting Services
  • Suggested Workers Compensation Code(s): 8803 Auditor, Accountant, or Computer System Designer or Programmer – Traveling, 8810 Clerical Office Employees NOC


By having bookkeeping insurance, you can protect your business from any potential claims and ensure that you are adequately covered in the event of a claim. By taking the time to research and purchase the right bookkeeping insurance policy, you can ensure that you and your business are protected.

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