Business Owner's Policies
for Accountants, Advisors, Appraisers, Brokers & Other Finance Professionals
In the finance industry, physical threats in the office are few and far between, usually making accountants, tax preparers, and other finance professionals "low-risk" in the eyes of small-business insurance companies. These low-risk businesses are sometimes eligible for a Business Owner's Policies, or BOP, which combines a General Liability Insurance policy with a Property Insurance policy and offers you the bundle at a special, discounted rate.
Contact one of our specialized small-business insurance experts or complete our online application to see if your finance business qualifies.
BOP: Making Insurance More Affordable
BOP: Making Insurance More Affordable for Accountants, Tax Preparers, & Finance Professionals
Imagine one of those unlikely scenarios in which a client might bring a lawsuit against your business or your property might be damaged, potentially costing an uninsured business more than it can afford…
- A client trips over a rug in your lobby and breaks a bone.
- An employee drops and breaks a client's laptop while it is in your custody.
- Lightning strikes your building, causing a fire and damaging furnishings and equipment.
That's right! Your BOP not only protects your property, but any property that might be in your care, as well. And the BOP will reimburse your tax preparation, accountancy, or finance business at full replacement value, not a depreciated value.
If you're thinking that the first scenario might be dropped or dismissed in court, you may be right. But it's not just settlements and judgments that threaten the financial security of businesses like yours. What about…
- Lawyer fees?
- Court costs?
- Witness fees?
- Police report costs?
Legal defense has the potential to dig deep into your pocketbook — tens of thousands of dollars — and your BOP can cover it all at a lower rate than many other policies. In addition, your BOP might even be able to cover any interest that may accrue over the cost of a lawsuit.
With a BOP on your side, you can feel secure that your business's assets and reputation stay intact, because insureon understands that businesses on the quickest road to recovery are the ones that get up and running again as soon as possible.
Business Owner's Policies: Key Details
BOP: Key Details for Accountants, Tax Preparers, & Financial Professionals
With a BOP, there are three major ways insureon can help protect your accounting, tax preparation, or finance business from the aches and pains of unexpected accidents:
Whether you rent or own your office space, your BOP has it covered, along with all furniture, equipment, inventory, or other supplies housed within that space. And when you take your equipment off the premises — your laptop to a client's office, for example — your property is still insured. Below is a list of common property claims that are generally covered under a BOP…
- Accidental Damage. This is sudden damage caused by an unintentional, one-time-only outward action, like if the child of a client took a marker to your walls when the adults weren't looking.
- Theft. This is when someone breaks into your place of business and steals, say, all your electronic equipment. Please note that this does not include data theft, which is protected under our Cyber Liability Insurance.
- Fire. Usually, your BOP will cover damage caused by lightning or explosion, as well as damage from fires that started outside of your property (e.g. a fire that started in the neighboring office). It may also cover damage from fires that accidently start on your property and creep into the spaces of other tenants.
For more information, please see insureon's Property Insurance page for accountants, tax preparers, and finance professionals.
General Liability Claims
Your Business Owner's Policy might protect your accounting, tax preparation, or financial firm from liability beyond property and bodily injury lawsuits, such as personal and advertising liability and contract liability. For example, if a company accused your accounting firm of using ideas from its advertising in your own billboard or display ads, your BOP would help you out. Additionally, if a client takes you to court for not upholding part of a contract, your BOP will kick in.
For more information, please see insureon's General Liability Insurance page.
Business Interruption Insurance
If a natural gas explosion forces you to close your offices, your BOP may reimburse your business for the lost income and extra expenses that result from that closure. In addition, if your business is able to find temporary office space, you may be entitled to receive reimbursement for the move.
Secure a Business Owner's Policy
Secure a Business Owner's Policy for Accountants, Tax Preparers, & Finance Professionals
Ready to find a Business Owner's Policy tailored to the individual needs of your accounting, tax preparation, or finance business? Contact an insurance expert in your field, today!