Accounting and CPA insurance is dominated by professional liability — Insureon shows PL averaging $45/month and GL at $29/month. Most solo CPAs and small accounting firms spend under $100/month on insurance. Larger firms with SEC-registered clients or audit practices pay meaningfully more.
Accountant / CPA Insurance Cost Breakdown
Average premiums from Insureon's 2026 accountant / cpa cost data — median policies sold:
| Coverage | Average Monthly | Average Annual |
|---|---|---|
| General liability (GL) | $29/mo | $350/yr |
| Professional liability (E&O) | $45/mo | $537/yr |
Related Guides for Accountant / CPA Insurance
For an independent breakdown of which carriers actually write accountant / cpa insurance well in 2026, see our carrier comparison.
For required coverages, risk profile, and the carrier panel that writes this class, see the accountant / cpa insurance guide.
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We'll match you with a licensed independent agent in your state who's appointed with multiple carriers. They'll run quotes on your behalf, walk you through the differences, and you decide. Free for you — we earn a referral fee from the agent.
Real Quote Example: Small CPA firm in Massachusetts, 3 CPAs + 2 support staff, $920K revenue
A small CPA firm in Massachusetts — 3 licensed CPAs, 2 administrative staff, $920K revenue split roughly 60% tax prep / 30% bookkeeping / 10% basic advisory, no audit work, no SEC clients, clean claims history, all engagement letters in place. Using the Insureon averages plus revenue scaling: professional liability at $1M/$3M limits ~$2,800/yr (above the $537 solo average because of firm size and revenue), general liability ~$420/yr, and a small business owners policy adding property/equipment coverage ~$900/yr. Cyber liability is increasingly standard for accounting firms because of client data — adds ~$1,500/yr for $500K limit. Total package: roughly $5,600/yr. CAMICO and Aon Affinity are the AICPA-endorsed programs and worth quoting alongside Hiscox and Travelers Professional.
Total estimated annual cost: ~$5,600/yr
Carriers commonly competitive on this profile: CAMICO, Hiscox Pro, Travelers Professional, Aon Affinity.
This is a composite scenario built from the Insureon-sourced averages above, not a real bound policy. Your actual premium depends on revenue, claims history, state, and the specific carrier panel an agent runs you through.
What Drives Accountant / CPA Insurance Cost Up or Down
- Type of practice (tax prep vs audit vs CFO services vs financial advisory)
- Annual revenue and average engagement size
- Whether you handle SEC-registered or publicly-traded clients
- State (NY, CA more expensive for accounting E&O)
- Claims history
- Use of standardized engagement letters
What You'll Be Asked When Quoting Accountant / CPA Insurance
Whether you quote directly online or work with an independent agent, these are the questions underwriters actually use to price accounting businesses. Knowing them ahead of time saves back-and-forth and lets you compare quotes apples-to-apples.
What's your practice mix — tax prep, bookkeeping, audit, advisory, fractional CFO?
Each rates differently. Tax prep and bookkeeping are the cheapest. Audit work raises PL premium meaningfully (more severe claims). Fractional CFO work is the highest-priced because the advisory exposure is open-ended.
Do you have any SEC-registered or publicly-traded clients?
Public-company work has dramatically higher claim severity and most standard E&O programs exclude it. SEC registrants typically require a specialty market and significantly higher premiums.
What's your largest single engagement, and what's your top-5 client concentration?
A firm with 80% revenue from 2-3 clients is a concentration risk — a single client dispute can wipe out the firm. Carriers price for this.
Do you use standardized engagement letters on every engagement?
Engagement letters define scope of work and are the primary defense against claims of unmet expectations. Firms without them get rated higher; some carriers won't quote without seeing a sample.
Do you handle client funds or have trust account access?
Holding client funds or trust accounts creates fidelity exposure that's separate from professional E&O. Most carriers exclude employee dishonesty unless you carry crime/fidelity coverage as a separate endorsement.
Do you do any work outside your CPA license — financial planning, investment advice, insurance recommendations?
Cross-practice work creates regulatory exposure (SEC, state insurance regulators) that standard accountant E&O doesn't cover. Firms doing financial advisory typically need a separate investment advisor or insurance producer policy.
Have you had any subpoenas, IRS notices, or state board complaints in the last 3 years?
These are early-warning indicators of claims that haven't been filed yet. Carriers ask explicitly and treat undisclosed activity as a coverage breach.
How to Lower Your Accountant / CPA Insurance Cost
- Use engagement letters for every client — courts treat these as critical evidence
- Maintain professional certifications (CPA, EA, CMA)
- Document continuing education compliance
- Avoid taking on engagements outside your competency area
- Quote AICPA-endorsed programs (CAMICO, Aon Affinity) alongside generalists
Frequently Asked Questions
How much does accountant / cpa insurance cost?
Per Insureon's 2026 data, general liability averages $29/month ($350/year), professional liability averages $45/month. Total premium depends on revenue, employees, state, and claims history.
What insurance do I need as a accountant / cpa?
Most accounting businesses need: general liability (often bundled into a business owners policy), professional liability (E&O) if you provide advice or deliverables. The specific mix depends on your operations, employee count, and any contractual requirements from clients or vendors.
How long does it take accounting businesses to get insurance quotes?
For accounting businesses, GL and BOP can typically bind in 15-30 minutes through direct carriers like biBERK, NEXT, or Hiscox when the operation is solo or has fewer than 5 employees. Professional liability (E&O) for accounting businesses typically takes 2-5 business days because most carriers require a completed application supplement specific to your work and may want to see prior engagement examples. A full-package quote through an independent agent — which most accounting businesses end up needing once they have employees, vehicles, or any specialty exposure — runs 3-7 business days as the agent submits to multiple carriers in parallel.
Should accounting businesses buy insurance direct or through an agent?
For accounting businesses, the answer depends on operational complexity. Direct carriers (biBERK, NEXT, Hiscox) work well for solo operators and sub-$200K revenue accounts with no employees and no vehicles — coverage binds in 15 minutes and pricing is competitive at that size. An independent agent is worth it for accounting businesses once your E&O exposure grows — CNA, Hiscox Pro, and Travelers Professional often beat the direct quote by 20-30% on accounts with established revenue or specialized practice areas. Trade-off: direct is faster (15 minutes to bind GL/BOP); agent-driven multi-carrier quoting takes 3-7 days but typically saves 15-30% on premium for accounting businesses once professional liability is in the mix.
What does accountant professional liability cover?
It covers claims that you made an error in tax preparation, missed a deadline, gave bad advice, or failed to discover something a reasonable accountant should have caught. Common claims: missed tax savings, incorrect filings leading to penalties, audit deficiencies, advisory errors leading to client financial loss. Insureon shows accountant PL averaging $45/month with significant variation by practice type.
Do bookkeepers need the same insurance as CPAs?
Similar coverage at lower limits and lower premiums. Bookkeepers face errors-in-data-entry and reporting accuracy claims rather than complex tax/audit liability. Insureon shows bookkeepers averaging $29/month for GL. Most bookkeepers carry $1M E&O and bundle with a small business GL for total coverage under $50/month.
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