Tax Preparer Insurance in Phoenix, AZ
Tax preparers carry a professional responsibility that extends well beyond filing season. When a client believes an error on their return caused a financial loss, they may file a claim against the preparer, regardless of fault. The right insurance coverage helps cover your business, your reputation and your livelihood when disputes arise.
What Is Tax Preparer Insurance?
Tax preparer insurance is a combination of commercial coverages designed for professionals who prepare tax returns and offer related financial services. A complete policy typically includes professional liability insurance, also called errors and omissions (E&O) insurance, along with general liability and other business coverages suited to your practice. Commercial property insurance is often necessary to cover a tax preparer’s physical assets, such as computers, furniture and offices.
How Much Does Tax Preparer Insurance Cost?
Premiums vary based on a number of factors, including the policies and coverage details you need, the size of your practice, annual revenue, number of employees, claims history and the types of services you offer. Because no two businesses carry the same risk profile, speaking with our team is a reliable way to assess your needs and find policies tailored for your situation and priced accordingly.
Why Do Tax Preparers Need Professional Liability Insurance?
Tax preparers work with sensitive financial data and make recommendations that directly affect clients’ finances. Professional liability insurance responds when a client alleges a mistake or oversight caused them harm. Specifically, it may provide financial assistance for legal expenses and losses in response to the following accusations:
- Professional errors
- Inaccurate tax advice
- Missed deadlines
- Negligence
- Misrepresentation of services
- Omissions
Get A Policy That Fits Your Practice
Contact Facil Insurance today to review your coverage options and find tax preparer insurance policies that fit your business. Our team works with you closely so you can build an insurance package that matches your needs.