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Accountant insurance in North Carolina

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

Which insurance policies are required for accountants in North Carolina?

If you have a commercial lease, your property manager may require you to purchase general liability insurance. Commonly purchased by accountants in North Carolina, general liability insurance can protect your 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.

State law in North Carolina requires every small business with three or more employees to provide workers’ compensation insurance, which covers medical bills for work injuries.

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What are the most common insurance policies for a North Carolina accountant?

The most common policies for accountants in North Carolina 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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North Carolina workers' compensation

North Carolina state law requires businesses with three or more employees to have workers’ compensation coverage. Employees include corporate officers, full-time employees, part-time staff, seasonal workers, and family members. If an employee is injured on the job, workers’ compensation can help pay for medical fees and lost wages.

What do accountants pay for business insurance?

According to an analysis of Insureon applications, accountants nationwide pay a median premium of $1,220 for professional liability insurance, the most expensive policy for accountants. The least expensive business insurance policy for accountants is general liability insurance. Accountants nationwide pay a median premium of about $600 for general liability insurance.

Median insurance costs for North Carolina accountants.

Save time and money with Insureon

Insureon’s industry-leading technology helps accountants in North Carolina 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 North Carolina 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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