Which Computer Repair Insurance Coverages Do I Need?
If you own an accounting firm or operate out of a brick and mortar location, you should probably be carrying a Commercial Package Policy.
Much like a homeowner policy protects an owner’s house and personal possessions, a CPP protects a business owner’s buildings, property, and other business assets.
Typically, a Commercial Package for a CPA includes three basic coverages:
- General Liability
General Liability insurance is one of the most commonly-known coverages in the small business world. This coverage is important well beyond the world of accounts, and should generally be included in every small business insurance policy.
As an accounting firm, your general liability coverage will protect you against loss from risks including, but not limited to: lawsuits stemming from injuries or property damage caused by your business operations or lawsuits filed against your accounting firm for slander or libel (advertising injury), and the associated attorney fees, court costs, administrative costs and judgements resulting from the litigation process.
2. Commercial Property Insurance
Commercial Property Insurance covers an accounting firm’s office, property, and assets in the unfortunate case of a loss or damages.
3. Business Income Insurance
This coverage is designed to protect an accounting firm against any loss of income resulting from covered property damage. For example, if your accounting office was hit by a tornado, your Business Income Insurance coverage could help cover any loss of income suffered as a result of not being able to conduct business as usual during the recovery process.
There are many other options to consider when deciding on the specifics of your policy.
Talk with a Tomins CPA Insurance expert today to learn more about the coverages that make sense for your business.
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