Practicing accounting has a wide range of risks associated with it. One lawsuit or legal claim can severely impact a small to medium sized firm. Fortunately, CPA accountants professional liability insurance programs are designed to mitigate many of the risks of this profession. To decide if coverage is right for you, learn about the three major coverage benefits of this type of insurance.
Covers Steep Legal Fees
If an individual decides to make a claim against your establishment, you might be forced to pay for legal counsel or even a settlement. You or one of your staff might also miss work because of court appearances. Quality coverage protects against disciplinary actions and subpoenas.
It’s Available in Every State
CPA accountants professional liability insurance programs are available in all 50 states, so you won’t ever have to miss out because of the location of your business. Although not required by state law, more and more businesses are choosing to take advantage of this offer.
It Includes All Practice Areas
Often, professionals have to shop around at several insurance companies to cover all the employees at their firm. A top-notch insurance provider, however, provides CPA accountants insurance as well as policies for auditors, bookkeepers and tax preparers of all credentials.
CPA accountants professional liability insurance programs are a great way to keep your business thriving for years to come. Educating yourself on the benefits of a policy can help you make a frugal decision for your enterprise.