How Much Does Financial And Accounting Firms Business Insurance Cost? 2026 Rates

Financial and accounting firms in the United States typically spend between $450 and $1,400 per year on comprehensive business insurance, which equals about $42 to $100 per month. Actual premiums vary depending on the overall risk profile of the firm. Several factors influence how much coverage will cost, including services offered, size of the business, location, and claims history.

How Much Does A Financial And Accounting Firm Insurance Cost?

On average, financial and accounting firms in the United States spend between $450 and $1,400 annually on a full insurance package. That equals about $42 to $100 per month. These figures are only estimates—actual premiums vary depending on the size and scope of your firm.

Every financial and accounting business faces unique risks, so premiums are never one‑size‑fits‑all. For example, a small rural accounting office with two staff members will typically pay less than a large financial firm offering services beyond tax preparation. The more complex the services, the higher the liability exposure—and the higher the insurance costs.

Several factors influence how much you’ll pay for coverage:

• Services offered – Impacts professional liability and cyber coverage needs.
• Number of employees – Larger staff increases workers’ compensation requirements.
• Property size and value – Owning or leasing larger offices and high‑value equipment raises commercial property premiums.
• Claims history – Frequent past claims raise rates, while a clean record can lower them.
• Business interruption and add‑ons – Extra coverage options add to the total bill.

Understanding these variables helps financial and accounting firms estimate insurance needs more accurately and budget for the real costs of protecting their operations. With the right coverage, you can safeguard your staff, clients, and sensitive financial data without overspending.

Average Financial And Accounting Firm Insurance Costs For Coverage Types

When it comes to protecting your financial and accounting firm, different types of insurance cover different risks. Understanding the average cost, coverage details, and what influences pricing for each policy type can help you build a more effective insurance plan. Here’s a closer look at the major coverages most financial and accounting firms need.

• General liability insurance: $42 per month
• Employment Practices Liability (EPLI): $225 per month
• Fidelity Bonds/Crime Insurance: $123 per month
• Business Income (Interruption) Insurance: $91
• Directors and Officers (D&O) Liability: $132 per month
• Business owner’s policy: $67 per month
• Professional liability insurance: $45 per month
• Workers’ compensation insurance: $80 per month
• Commercial auto insurance: $185 per month
• Commercial property insurance: $125 per month
• Cyber liability insurance: $152 per month

General Liability Insurance

The average cost of general liability insurance for a financial and accounting firm is about $42 per month.

General liability covers third-party bodily injury, property damage, and advertising injuries. For example, if a customer slips on a wet floor and gets injured, this policy would help pay for their medical expenses and your legal defense costs.

Typical policy limits are $1 million per occurrence and $2 million aggregate.

Factors that influence the cost include the business type (your services), location, office environment (if clients frequently visit your office), contract requirements, and previous claims history.

Average annual premiums by state:

Fidelity Bonds/Crime Insurance

The average cost of fidelity bonds/crime insurance for a financial and accounting firm is $123 per month.

This is a form of coverage that reimburses your financial and accounting business for losses that result from employee dishonesty, things like forgery that an employee commits against a client or your firm, fraud, or theft.

For example, one of your employees embezzles money from a client’s account over 5 years. This bond would help cover that lost money.

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Employment Practices Liability (EPLI)

The average cost of employment practices liability insurance for a financial and accounting firm is $225 per month.

This is a form of insurance that protects your business against claims that employees file alleging wrongful termination, harassment, discrimination, or any other violation of their employee rights.

For example, a former employee sues you for discrimination during the promotion process. This would help cover legal fees and any potential settlement.

Average annual premiums by state:

Business Income (Interruption) Insurance

The average cost of business income (interruption) insurance for a financial and accounting firm is $91 per month.

This is a form of protection to offset lost net income and help cover operating expenses should your business have to close temporarily because of an unforeseen covered event like a fire or a natural disaster.

For example, a severe storm damages your office forcing the firm to operate remotely for one month. This would help cover the lost revenue for this time frame.

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Directors and Officers (D&O) Liability

The average cost of directors and officers (D&O) liability insurance for a financial and accounting firm is $132 per month.

This is a form of protection against claims of mismanagement or breach of fiduciary duty for your directors and officers. This is particularly important for larger firms.

For example, your board members get sued by a shareholder for allegedly mismanaging finances. This would help cover those costs.

Average annual premiums by state:

Business Owner’s Policy (BOP)

The average cost of a business owner’s policy (BOP) is about $67 per month for financial and accounting firms.

A BOP bundles general liability insurance with commercial property insurance. It protects against customer injuries, property damage, and loss or damage to your office building, furnishings, and equipment. For instance, if a fire damages your computers and files, the BOP would help cover repairs and replacements.

Typical policy limits are $1 million per occurrence and $2 million aggregate for liability, with separate property coverage limits based on the value insured.

Cost factors include the size of your business, location risk (such as flood or crime rates), business revenue, number of employees, and any optional endorsements like cyber protection, directors and officers insurance, equipment breakdown, or extra expense coverage if expenses for a disruptive event go beyond your normal costs.

Average annual premiums by state:

Professional Liability Insurance

The average cost of professional liability insurance for financial and accounting firms is about $56 per month.

Sometimes called errors and omissions, this type of insurance covers claims relating to errors, emissions, negligence, or other financial losses that a customer or client experiences because of the advice you gave. For example, one of your tax preparers makes a calculation that results in a significant IRS penalty and the client sues you for that penalty. This would help cover the cost.

Typical policy limits are $1 million per claim, but higher limits are sometimes required by state laws or client contracts.

Cost depends on the size of your business, the services you offer, the number of years you’ve been in business, coverage limits, and claims history.

Average annual premiums by state:

Cyber Liability Insurance

The average cost of cyber liability insurance for financial and accounting firms is $152 per month.

Cyber liability insurance covers the costs an financial and accounting firm might incur after a cyber incident. For example, a hacker breaches your network and steals clients financial data resulting in lost income, legal fees, and notification expenses. This would help cover that, extending to lost income after a cyber attack, forensic investigations, data recovery costs, regulatory fines, and the costs of informing customers about the attack.

Financial and accounting firms can benefit from this coverage if they handle any sensitive data, or if they want to cover gaps in their insurance.

Costs are based on factors like the size of your organization, the type of client data you handle, and the cybersecurity measures you already have in place.

Average annual premiums by state:

Workers’ Compensation Insurance

The average cost of workers’ compensation insurance for a financial and accounting firm is around $80 per month.

Workers’ comp covers medical bills, rehabilitation, and lost wages for employees injured on the job. For example, if an employee trips and falls over empty boxes left in the middle of a walkway at the office, and breaks their ankle, workers’ compensation would cover their hospital visit and part of their lost wages while they recover.

Policy limits are regulated by each state, but typically include medical costs and a percentage of lost wages without a set cap.

Premiums are influenced by the size of your payroll, the type of work employees perform (whether in your office or on-site for each client), your claims history, and any implemented safety programs.

Average annual premiums by state:

Commercial Auto Insurance

The average cost of commercial auto insurance for a financial and accounting firm is about $185 per month.

Commercial auto insurance covers vehicles owned or used by the business for accidents, theft, vandalism, or damage. For example, if an employee gets into a T-bone accident while driving to a meeting at a third party location in a company vehicle, this policy would cover the damages and any third-party claims.

Typical policy limits are around $1 million combined single limit (covering both bodily injury and property damage).

Factors influencing the cost include the number and type of vehicles, how often they are used, the driving records of employees, and whether you add endorsements like hired and non-owned auto insurance (HNOA) for employee-owned vehicles used for company services like driving to and from off-site consultations.

Average annual premiums by state:

Commercial Property Insurance

The average cost of commercial property insurance for a financial and accounting firm, when purchased separately, usually runs $125 per month.

Commercial property insurance covers damage to the agency building and its contents due to fire, theft, vandalism, or certain weather events. For example, if a fire destroys equipment like computers, this policy would pay for repairs or replacement.

Typical policy limits are based on the replacement cost value of the insured property, which could easily reach into the hundreds of thousands depending on your location, building size, and equipment investments.

Premiums are determined by factors like the building’s age and construction type, fire safety systems in place, replacement cost of equipment, neighborhood crime rates, and whether you add endorsements such as professional liability or cyber protection.

Average annual premiums by state:

Financial And Accounting Firm Business Insurance Costs By Provider

Financial and accounting firm business insurance costs will vary greatly depending on the insurance carrier. Use the table below to find average costs across different providers.

Note: These estimates are based on typical liability, property, and professional indemnity (errors & omissions) coverage for financial and accounting firms in the U.S. Actual premiums will vary depending on factors such as firm size, services offered (tax preparation, auditing, consulting), location, coverage limits, and claims history.

What Factors Impact Your Financial And Accounting Firm Insurance Costs?

Insurance premiums for financial and accounting firms are calculated by underwriters who assess your company’s overall risk profile. From the services you provide to your claims history, several factors determine how much you’ll pay for coverage.

Type Of Services

Not all firms carry the same risks. Specialized services such as auditing, investment advisory, or compliance consulting typically face higher liability exposure compared to firms that focus solely on basic tax preparation.

Location

Where your office is located plays a major role. Firms in high‑crime, flood‑prone, or urban areas generally pay more for property and liability insurance. Suburban or rural offices with fewer claims often benefit from lower premiums.

Size Of The Operation

The larger your firm, the greater the exposure. More square footage, employees, and revenue increase the likelihood of claims. Workers’ compensation costs also rise with bigger staff counts, especially if employees travel frequently to client sites.

Property Value and Office Equipment

High‑value office equipment, furnishings, and technology drive up commercial property premiums. Many firms also add endorsements like cyber insurance to protect sensitive client data, which increases costs but provides essential coverage.

Claims History

Past claims are a key factor. Companies with frequent property or liability claims are considered higher risk, leading to higher rates. A clean claims record, however, can qualify you for discounts.

Policy Limits And Deductibles

Higher policy limits provide stronger protection but increase premiums. Opting for a larger deductible can lower monthly costs, though it raises your out‑of‑pocket responsibility when claims occur.

Optional Endorsements

Add‑ons such as business interruption, cyber liability, or hired/non‑owned auto coverage tailor protection to your needs but raise premiums. These are especially important for firms with off‑site consultations, sensitive client data, or exposure to natural disasters.

Insurance Provider

Not all insurers price coverage the same way. Some specialize in financial risks and may offer more competitive rates or flexible options for firms with advisory services. Comparing quotes across multiple carriers is one of the best ways to save.

How To Lower Your Financial And Accounting Firm Insurance Costs

Running a financial or accounting firm can be costly, but your insurance premiums don’t have to overwhelm your budget. While coverage is essential, there are smart strategies to reduce expenses without sacrificing protection.

1. Bundle Your Policies

One of the simplest ways to save is by combining multiple policies. Many insurers offer a Business Owner’s Policy (BOP) that packages general liability and property insurance at a reduced rate. Adding workers’ compensation or directors and officers (D&O) liability coverage through the same provider can unlock further discounts and streamline administration.

2. Ask About Discounts

Insurers often reward loyalty and upfront payments. You may qualify for reduced rates by signing a multi‑year agreement or paying your premium in full instead of monthly installments.

3. Strengthen Internal & Safety Controls

Risk management isn’t just about physical safety—it’s also about protecting data and operations. Implementing strong internal controls, regular peer reviews, multi‑factor authentication, secure backups, and clear client contracts can reduce exposure to cyber liability, professional liability, and employment practices liability (EPLI). On the practical side, maintaining clutter‑free offices, installing non‑slip flooring, and servicing company vehicles regularly can lower general liability risks.

4. Build A Safer Work Environment

Workers’ compensation costs can be managed by focusing on staff training and preparedness. Fire safety drills, clear emergency exits, and ongoing workplace safety programs reduce accidents and claims, which translates to lower premiums over time.

5. Adjust Your Deductible

Opting for a higher deductible is a straightforward way to lower monthly premiums. Just ensure your firm can comfortably cover the out‑of‑pocket amount if a claim arises.