The cost of accountant and auditor insurance is determined by your business risk, number of employees, and other factors. Cost estimates are sourced from policies purchased by Insureon customers.
General liability insurance costs for accountants and auditors
Accountants and auditors pay a median premium of less than $30 per month, or $350 per year, for general liability insurance. This policy provides protection against third-party injuries, third-party property damage, and advertising injuries.
Insureon recommends purchasing a business owner’s policy for more complete coverage, as a general liability policy does not cover your business property.
Median cost per year: $350
Policy limit: $1 million per occurrence
Policy deductible: $500
Professional liability insurance costs for accountants and auditors
The cost of CPA professional liability insurance is less than $45 per month, or $500 annually. Also known as errors and omissions insurance, this policy covers legal costs if an accounting or auditing business is sued for substandard work.
Median cost per year: $500
Policy limits: $1 million per occurrence
Policy deductible: $1,000
Cyber liability insurance costs for accountants and auditors
With a median premium of less than $90 per month, or $1,060 per year, cyber liability insurance is crucial for accounting and auditing professionals who handle sensitive information. This policy helps cover legal fees related to a data breach or cyberattack.
Median cost per year: $1,060
Median generic limit: $1 million
Workers’ compensation insurance costs for accountants and auditors
The median cost of auditor and accountant workers’ comp insurance is less than $35 per month, or $395 annually. This policy is required in almost every state for businesses with employees. It can help cover medical fees and lost wages for work-related injuries and illnesses.
Get free quotes and compare policies with Insureon
Insureon’s finance and accounting insurance agents work with top-rated U.S. carriers to source coverage that fits your accounting or auditing business, whether you work independently or run a firm with several employees. Apply today to compare insurance quotes from multiple carriers with one free online application. If you choose to purchase a policy, you’ll work with an account manager who specializes in business risks for accountants and auditors.