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The Importance of Business Owner’s Insurance for Accountants

As an owner of your own accounting firm, you never want to think about damage to your hard-earned business. Unfortunately, it’s a risk you face each and every day. Whether a fire shuts you down for months or a broken computer system halts operations for a day, you need coverage for your business.

While purchasing insurance isn’t the most exciting part of owning your own firm, it is critical to giving you the protection and peace of mind you need, should any damage occur. For comprehensive protection of your firm, consider a Business Owners Insurance for Accountants.

About BOPs

Business Owner’s Insurance for Accountants covers a wide variety of business insurance needs, and protect your office, equipment and inventory. It also includes general liability coverage. Depending on your business needs, additional coverage can be added to a BOP.

A standard BOP provides:

  • Property Insurance – covers your building’s contents or property inside your building such as equipment, furnishings, computers, etc.
  • Business Interruption Insurance – ensures revenue recovery in the event of a property damage claim that leads to your inability to conduct business.
  • General Liability Insurance – covers costs associated with third party claims, including bodily injuries, property damage and personal injuries (libel, copyright infringement, etc.)

Because a Business Owner’s Policy bundles multiple policies, it can save you money on your premium versus buying the three insurance policies separately.

Employment Practice Liability Insurance (EPL) is another policy that is typically required for accounting firms. Most EPL policies are sold separately from BOPs. However, when you purchase a BOP through The Hartford, you receive EPL coverage at no extra cost

EPL policies will cover you for the costs stemming from claims associated with the employment process, such as alleged discrimination, sexual harassment, retaliation and wrongful termination claims.

Your firm may face additional risks beyond what a standard BOP covers. At Lockton Professional, we can help you determine affordable coverage options, and how they work with your BOP. We can also help you get a Business Owner’s Policy and Employment Practices Liability Policy in place. Learn more today.


Coverage may not be available in all states and is subject to actual policy terms and conditions.  Coverage may be provided by an excess/surplus lines insurer which is not licensed by or subject to the supervision of the insurance department of your state of residence. Policy coverage forms and rates may not be subject to regulation by the insurance department of your state of residence. Excess/surplus lines insurers do not generally participate in state guaranty funds and therefore insureds are not protected by such funds in the event of the insurer’s insolvency.

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