Accountants Insurance

Garden State Professional Insurance Agency is Your Source for Accountants Professional Liability

Policies designed for small-to-medium private accounting firms with 1 – 50 professionals. CPAs, Public Accountants, Enrolled Agents, Tax Preparers and Bookkeepers are eligible.

This outstanding coverage includes all the features and benefits you’d expect, and more!

Insurance for accountants and accounting firms

Some of the Features available:

For more information about our Accountants E&O coverage, please click here.

Additional Resources:

Target Accountants Professional Liability Insurance Highlights

Plus, a Network Security & Theft of Data Endorsement is now included with every Accountants Professional Liability policy – at no additional premium.

To learn why this coverage is so valuable today, take a look at these claim scenarios.

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Complete this single page form and we’ll respond with an estimated premium. You’re also welcome to request a non-binding premium estimate based on a current, completed application from any insurance carrier.

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Garden State Professional Insurance Agency Professional Liability Insurance

Professional Liability and More …

In addition to Errors & Omissions coverage, you can turn to Garden State Professional Insurance Agency for other liability coverages:


What is Accountants Professional Liability Insurance?

Accountants Professional Liability (Errors & Omissions or malpractice) is coverage designed to protect accountants and firms incurred as a result of errors and omissions in performing professional services. Most policies will pay the cost of legal defense against claims and payment of judgments against you, up to the limit of the policy. 

What is the difference between Accountants Professional Liability Insurance and General Liability?

General liability covers events that could happen to any type of business, such as physical injury or property damage. Professional Liability covers risks specific to professional services provided to clients.

What is claims-made coverage?

Claims-made coverage provides insurance that is triggered when a claim is made against an insured during the policy period, regardless of when the error of omission that gives rise to the claim took place. (If there is a Retroactive Date on the policy, the act giving rise to the claim had to take place after that retroactive date).

Do Accountants Professional Liability Policy Cover Defense Costs?

Accountants Professional Liability Policies do cover the cost of defense. Some policies have Defense “Within” the Limits also called Claims Expenses Inside the Limit or “CEIL”. This means that the cost of defense erodes the limit of liability available to pay judgements or settlements. Some policies have Defense “Outside” the Limit of Liability meaning that defense costs are provided in addition to the limit of liability or “CEOL” and do not erode the policy limits.

What is a Loss Only Deductible or First Dollar Defense?

Loss Only Deductible means the deductible applies only to indemnity (judgments and settlements) and not to defense costs. Defense costs are paid by the carrier from the first dollar expended.

Why does the Accountants Professional Liability application ask for percentages of my areas of practice?

The areas of practice portion of your application is necessary to allow the underwriter to determine if they will insure the risk that your firm presents to the carrier. It also serves as part of the factoring in determining the premium. Essentially, each area of practice is given a ‘risk factor’. The more hazardous areas of practice will have a higher risk factor. The carriers determine ‘hazardous’ areas of practice by analyzing their loss experience for each specific area of practice.

It would be our privilege to represent your accounting firm!