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Accountant insurance in Florida

Learn about business insurance requirements and the most common policies for accountants in Florida.

Which insurance policies are required for accountants in Florida?

If you have a commercial lease, your property manager may require you to purchase general liability insurance. General liability insurance can protect your Florida-based business from expenses associated with common mishaps, such as client property damage and injuries.

Your clients may require professional liability insurance in a contract. Also called errors and omissions insurance, professional liability insurance provides financial protection if a client files a lawsuit claiming your work caused financial harm because it was late, erroneous, or incomplete.

For instance, Florida law requires any non-construction business with four or more employees to carry workers’ compensation insurance, which covers medical bills for work injuries.

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What are the most common insurance policies for a Florida accountant?

The most common policies for accountants in Florida vary depending on revenue, client contracts, partnerships, and other factors.

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General liability insurance

General liability insurance is the foundation of an accountant’s business protection, with coverage that extends to client injuries, client property damage, and advertising injuries. Most commercial leases require you to have this coverage.

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Professional liability insurance

Many clients require proof of professional liability insurance before entering into contracts for professional services. This policy, also called errors and omissions insurance or accountant liability insurance, can help cover legal expenses if you’re sued for unsatisfactory performance or a work mistake.

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Cyber liability insurance

Cyber liability insurance can help accountants survive data breaches and cyberattacks. Many professional liability policies include this coverage, but check with your licensed Insureon agent to make sure.

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Florida workers' compensation

If you own an accounting business in Florida that has four or more employees, you are required to carry workers’ compensation coverage. Even if your business has fewer than four employees, a workers’ comp policy can help pay medical bills and lost wages if one of those employees breaks an arm while tripping down the stairs at a client’s office, or develops carpal tunnel syndrome after years of working on a computer.

What do accountants in Florida pay for insurance?

According to an analysis of Insureon applications, the typical accountant in Florida can expect to pay close to the national median for some policies, and less than the national median for others.

For example, Florida accountants pay a median premium of $809 annually for workers’ compensation, close to the national rate of $795. However, they pay a median premium of just $505 annually for a business owner’s policy, about half the national median rate of $1,007.

Median insurance costs for Florida accountants.

Save time and money with Insureon

Insureon’s industry-leading technology helps accountants in Florida save time and money shopping for insurance by comparing policies from top U.S. carriers. Start a free online application to review quotes for the policies that best fit your business. Our insurance agents are licensed in Florida and can answer your questions as you consider coverage.

To make the application go quicker, have this information ready:

  • Workforce details, such as the number and types of employees
  • Current and projected revenue
  • Business partnerships
  • Insurance history and prior claims
  • Commercial lease insurance requirements

Apply for free accountant insurance quotes today.

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