Bookkeeping & Tax Prep Firm Insurance Coverage Checklist
The coverages a bookkeeping & tax prep firm business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for bookkeepers and tax-preparation offices. Priorities reflect typical exposure; confirm against payroll services and seasonal staff.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Tax Preparer / Bookkeeper E&O | Covers client penalties and interest from preparation errors. | Core | |
| Cyber Liability | Covers breaches of client data, notification costs, and regulatory response. | Core | |
| Crime / Fidelity | Covers theft of client payroll or tax deposits by employees. | Core | |
| Business Owners Policy / GL | Covers office premises and property. | Prevalent |
The coverage gap most often missed
The most commonly missed gap for this class is crime coverage for client funds. Firms that process payroll or make tax deposits can lose client money to employee theft or fraud, which E&O policies exclude. Seasonal preparers also handle sensitive data under IRS and FTC rules. Firms should carry crime coverage, keep deposits in client accounts rather than pooling them, and maintain a written security plan.
Send us the checklist and we'll review your bookkeeping & tax prep firm coverage line by line, then market it across multiple carriers that compete for your account.
Related: Bookkeeping & Tax Prep Firm Insurance · Bookkeeping & Tax Prep Firm Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does a bookkeeping & tax prep firm business need?
The core coverages for a bookkeeping & tax prep firm business are Tax Preparer / Bookkeeper E&O, Cyber Liability, Crime / Fidelity. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my bookkeeping & tax prep firm coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.