Accountants and Bookkeepers Insurance
Comprehensive liability insurance that safeguards your financial expertise, giving you the freedom to focus on client success while knowing your accounting practice is protected against professional claims.
You deserve protection from a partner who understands all professional risks and regulations.
With decades of specialized experience protecting accounting professionals, our expert advisors bring deep understanding of financial practice risks to every client relationship. We work closely with you to develop insurance solutions that safeguard against tax preparation errors, audit exposures, and advisory risks while anticipating regulatory changes. Our commitment to ongoing support ensures your accounting practice maintains robust protection as your services and client portfolio grow.
Our licensed insurance professionals specialize in liability coverage for accounting practices, from independent bookkeepers to full-service CPA firms. Through continuous monitoring of tax regulations, accounting standards, and emerging financial risks, we stay ahead of evolving industry challenges. This proactive approach ensures your policy provides comprehensive protection against calculation errors, compliance issues, and advisory-related liability concerns
We go beyond standard insurance offerings to provide comprehensive protection tailored to your specific hosting situation. Our policies cover everything from property damage and liability to loss of income and guest-related incidents, ensuring no aspect of your hosting business is left vulnerable.
Hear from our customers
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Have been a client for almost 7 years. Kristina catches the phone on the first ring, makes me feel like I am the most important call of her day and always goes the extra mile to meet my needs or solve my problem. She is a keeper!!! She makes TWFG Khan Insurance Services better!!!!
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My Company CDS Protective Services LLC was in need of insurance and I was so frustrated that other companies had not getting back with me. I called Kristina on a late afternoon and had it all taken care of by the next morning. Kristina was knowledgeable and explained everything to me on the phone.
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Our company was in need of insurance and we were frustrated through other companies not getting back with us. I called Sameer on a late afternoon and had it all taken care of by 11:00 the next morning. He was knowledgeable and explained everything on the phone.
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TWFG Khan Insurance Services assisted our small family owned trucking company with commercial insurance in our first year of business. They were able to get us with the best company that would provide us a policy with the lowest rate. Not only that but their staff provides the most exceptional service, especially Chandler Bennett.
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Comprehensive professional protection, tailored to your industry's unique risks and compliance needs.
• Coverage for tax return preparation errors, including incorrect calculations, missed deductions, and improper credit applications for both individual and business returns
• Protection against mathematical mistakes in financial statements, including balance sheets, income statements, and cash flow reports
• Comprehensive support for bookkeeping errors, including incorrect expense categorization, reconciliation mistakes, and journal entry oversights
• Defense against payroll processing errors, including tax withholding calculations, benefit deductions, and overtime compensation mistakes
• Protection for financial advisory services, including business valuation recommendations, merger and acquisition guidance, and succession planning advice
• Coverage for business consulting services, including cash flow projections, budgeting recommendations, and financial strategy development
• Support for claims related to financial forecasting, including growth projections, market analysis, and performance predictions
• Defense against allegations of misrepresentation in financial reporting, including audit preparation and financial statement analysis
• Coverage for data breaches involving sensitive client information, including financial records, tax documents, and personal identification data
• Protection against cyber threats, including unauthorized access to accounting software, client portals, and digital storage systems
• Comprehensive support for incident response, including client notification procedures, credit monitoring services, and reputation management
• Defense against privacy violation claims, including data handling errors, unauthorized disclosures, and confidentiality breaches
• Protection for IRS audit representation, including defense against tax preparation methodologies, documentation requests, and compliance verification processes
• Coverage for regulatory investigations, including state board inquiries, professional standard reviews, and compliance audits
• Support for maintaining professional standards, including continuing education requirements, licensing obligations, and ethical guidelines
• Defense against allegations of regulatory violations, including reporting requirements, filing deadlines, and professional conduct standards
On average, Accountants & Bookkeepers insurance costs around $1,500 annually; however, individual premiums vary based on several factors:
Premium rates reflect your firm's financial exposure, with larger practices handling higher-value accounts typically requiring greater coverage limits.
Firms offering advanced services like business valuation, tax advisory, or forensic accounting often see higher premiums compared to basic bookkeeping services.
Previous professional liability claims and implemented risk control measures significantly impact premium calculations.
The number of professionals in your practice and their certification levels affect premium rates, reflecting increased exposure with larger teams.
Practices specializing in high-risk industries like financial services or real estate may face higher premiums due to increased liability exposure.
Frequently Asked Questions
Quick answers to questions you may have. Can’t find what you’re looking for? Contact us here.
Professional liability coverage typically extends to work performed by subcontractors and temporary staff working under your firm's direction, but they must be explicitly listed in your policy. It's essential to notify your insurance provider when engaging contractors and ensure they meet professional qualification requirements. Some policies may require subcontractors to carry their own insurance. Regular staff updates and contractor documentation help maintain continuous protection.
Extended reporting period (ERP) or "tail" coverage protects against claims filed after you've ceased operations or retired. This coverage can be activated through a policy endorsement and typically covers claims arising from work performed while your practice was active. The length of tail coverage varies, with options ranging from one to several years. Some insurers offer special retirement provisions for long-term policyholders, ensuring continued protection for past services.
Adding new services to your practice, such as financial advisory or business consulting, requires updating your insurance coverage to ensure adequate protection. Each new service may present unique risks and liability exposures that need specific coverage endorsements. It's crucial to notify your insurer before expanding services, as undisclosed activities might not be covered. Your policy can be adjusted to accommodate growth while maintaining comprehensive protection for all professional services.
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For over a decade, TWFG Khan Insurance Services has been the trusted partner for businesses across Texas and neighboring states. We specialize in complex insurance solutions for maritime, oil & gas, and construction industries where standard coverage isn't enough.
Don't let gaps in coverage put your business at risk. Our team of specialists will work with you to create a comprehensive protection plan that keeps your business secure and compliant.
Join the hundreds of businesses who trust us with their most critical insurance needs.
