Bookkeepers' insurance

Secure bookkeepers' insurance quickly and without fuss. We're simply-priced, flexible and upfront.

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Professional indemnity insurance for bookkeepers UK
Professional indemnity insurance for bookkeepers UK
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The problem

Self-employed bookkeepers face many risks

Accusations of costly errors and omissions

As a bookkeeper you handle your clients' finances and if a client believes your services cost them money, they may demand compensation.

Critical illness or injury

As a small business owner, you are likely to be the key person in the business. Could you keep up with the business monthly outgoings or afford pay someone else to do your work if you fell seriously ill?

Client injury on your premises

If you see clients face to face, there are risks of trips or falls during meetings with you.

HMRC penalties for misreporting

If a client feels they were fined as a result of your services, they may start proceedings against you.

Bookkeepers insurance UK

You need bookkeepers' insurance that's well priced and provides great legal support if you face a claim

the suited way
Insurance made better

Self-employed insurance done fast, clear and upfront.

Bookkeepers professional indemnity insurance
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More flexible

Make changes instantly, easily and for free.

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No extra fees

We give you one price, no APR or hidden extras.

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Go retroactive

Include retroactive cover to insure previous work.

Holiday umbrella.
Holiday mode

Pay less when not working by hibernating your PI cover.

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Top insurers

Be confident knowing your cover is backed by trusted UK insurers.

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UK support

Get help when you need it from our Bristol based team.

Covers to consider

How much does bookkeepers' insurance cost?

Choosing the right insurance for you depends on the size and nature of your business. Key insurance covers bookkeepers should consider include:

Self employed professional indemnity insurance
Professional indemnity

from £7.41 per month

Provides you with legal defence against claims of professional mistake or negligence causing a financial loss to your clients.

Up to £2,000,000 cover

Zero excess

Dedicated legal team

A+ insurer

Competitive prices

Self employed professional indemnity insurance

Professional indemnity

from £8.63 per month

Provides you with legal defence against claims of professional mistake or negligence causing a financial loss to your clients.

Up to £2,000,000 cover

Zero excess

Dedicated legal team

A+ insurer

Competitive prices

Self employed public liability insurance.
Public liability

from +£4.76 per month

Protects your business against claims of causing an accidental injury or property damage to either your clients or a third party.

Up to £2,000,000 cover including products liability

No excess

Expert legal team

A+ specialist insurers

Covers claims against your client caused by your business

Business equipment insurance.
Electronic business equipment

from +£9.24 per month

Pays for repair or replacement if your portable electronic equipment (and accessories) get damaged or lost.

Equipment up to £10,000 cover (£3,500 per item)

Accessories are included (£500 per item)

Hired equipment is covered

Worldwide - your devices are covered anywhere you are

Personal accident insurance.
Business owner protect

from +£10.07 per month

Reimburses your taxable business expenses while you’re recovering from a serious illness or injury.

Up to £2,000 a month

Up to 6 months following the first 30 days of illness

Any tax deductible expenses included

Receive a lump sump payout if you suffer an accident leaving you with partial or total disablement:

£5,000 lump sum

Fast customer service

Quick payout

Answer 4 questions then select the policies and limits you need.
Answer 4 questions then select the policies and limits you need.
What people say
2 March
Extremely impressed

Extremely impressed with the professional and supportive service I received.

Kellie Williams
on Google
16 February
Very efficient

After shopping around for business liability cover, I found suited, I had a few questions and Jana from suited was very efficient...

on Trustpilot
14 February

The website is easy to use and the process is intuitive, clear and easy to follow.

Matt M
on Trustpilot
11 February

I was recommended Suited, because I’d been stalling. Simple to use website, offered clear, concise information and selection...

on Trustpilot
12 December

Really fantastic service by the suited insure team! Always found the insurance side to be a bit confusing but the team took me...

Michael Ryan
on Google
15 September

A simple and flexible service for what I required. Great communication from start to finish.

Matthew Allen
on Google
1 August

I was looking for business insurance this easy to use and very well explained web site made the process simple and painless. Had a quote...

Piers Field
on Trustpilot
Legal Expenses
Included as standard

With every policy subscription we also include Business Legal Protect. This means from the moment you sign up you gain immediate access to extra support services.

Commercial legal expenses insurance.
Business legal protect

Cover of £100,000 commercial legal expenses included with your policy subscription.

Protects you and your business against a range of issues not typically covered by professional indemnity or public liability.

IR35 & HMRC investigations

Legal matters concerning your business

Negative PR (£25,000 cover)

Criminal prosecution

Compliance & regulation issues

Unpaid invoices (over £200)

Also includes free telephone advice & help from qualified professionals.

Tax and commercial legal advice

Counselling for you and your staff

Access to a legal template library

Identity theft assistance

In detail

Why get bookkeeping insurance?

The law doesn't require you to have any kind of bookkeeper's insurance but no matter how diligent you are, numbers are pesky and they have a way of not being always right. If your mistake as a bookkeeper has had a negative financial impact on your client's business or they end up facing an HRMC investigation, you could be in trouble.

Even if you manage to eventually sort out your errors and put things in order for your client, the risk of having to pick up your client's defence cost or worse paying a compensation is real in these scenarios.

When starting up in a bookkeeping business, there is sometimes the temptation to keep costs down by not investing in adequate liability insurance for bookkeepers. However, the cost of a good PI cover is surprisingly inexpensive in comparison with just one hour with a solicitor whose help you would need if a client accuses you of negligence or a costly error. And experience tells us that it is usually startups that end up in hot water with upset clients.

The other reason why you might need insurance for a bookkeeping business in place is if you are or plan to become a member of a professional organisation. It is usually a condition of the membership.

Professional indemnity insurance for bookkeepers

The first consideration should be professional indemnity insurance because of the advisory nature of the bookkeeper profession. Other covers depend on the nature and size of your business.

Professional indemnity is a legal cover which protects a bookkeeping business against accusations of professional errors and mistakes by unhappy clients. Some of the scenarios we have mentioned above but we have also have a real story to share when professional indemnity insurance helped a bookkeeper in a difficult situation.

How does PI insurance protect bookkeepers?

Professional indemnity insurance for bookkeepers provides financial protection and expert legal advice if you find yourself in trouble with an unhappy client as a result of your bookkeeping activities.

Suited professional indemnity insurance provides cover up to £2 million backed by quality insurers and a dedicated legal team to assist if a situation arises.

The legal team is there for you at the early stages of a possible conflict with a client, advising you how to proceed to either stop the issue in its tracks or limit any possible damage. If the situation escalated, the legal team will step in to defend your case. The insurers pay for all your legal costs as well as any compensation if it becomes due.

Suited PI cover also comes with a bolt-on in the form of £100,000 legal expenses cover, useful for situations such as a tax dispute, negative PR crisis or some other commercial legal issue faced by your business.

Bookkeeper professional indemnity insurance limits.

The Institute of Certified Bookkeepers recommends cover of at least £50,000 or to select a limit which is at least a minimum of 2.5 times of your annual turnover. However, there are other factors you might wish to consider.

  • How many employees or subcontractors do you have? The possibility of a professional mistake increases every time you delegate work to another person.
  • How big is your biggest client account? Generally the size of a client account goes hand in hand with its complexity and therefore a possible financial impact an error could cause.
  • How many clients do you have and what is the combined size? Sometimes the same, and possibly incorrect procedure, is applied time and time again causing a portfolio wide issue.
  • What is the most complex client account you look after and what is the size of it? Complexity increases risk. If you specialise in more complex industries, make sure your insurance is adequate.

Other insurance bookkeepers should consider

As a bookkeeper you probably meet your clients face to face either at your home/office or at the client's premises. Public liability cover  protects you and your business against silly accidents like a spilt coffee over your client’s expensive laptop or your client slipping on your wet floor. The cost of injury compensation plus associated legal costs can easily run into thousands.

Then you'll need to consider whether you employ staff. Employers liability insurance is required by law and it is needed even if you have only part time employees or contractors. Premises and content cover is another consideration for businesses that have an office and couldn't easily bear the replacement and repair cost if something were to happen.

In this section

Common questions

Is professional indemnity insurance for bookkeepers compulsory?

Bookkeepers are not required by law to have a PI cover in place.

Will the work of my employees be covered by Suited professional indemnity insurance?

Yes, any work by bonafide employees of your business is covered.

What is the difference between bookkeeping and accountancy?

A bookkeeper keeps track of receipts, invoices and any other financial transactions. An accountant can provide the same service but in addition offers financial advice.

How is the cost of professional indemnity insurance calculated?

At Suited we only take into account your annual turnover, that's it. We do not charge per person.

Contact us
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Call us with any questions or queries. Our Bristol based team is available from Monday to Friday and answers straightaway.

Monday-Friday, 8:30am to 5:30pm

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Once you buy
If your plans change

No problem, Suited uses a simple subscription model making it easy to walk away.

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14 day promise *

If you call to cancel within the first 2 weeks we’ll give you a full refund.

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Easy to cancel

No longer need us? Cancel anytime, no more to pay.

* 14 day promise is not available online, please speak to a member of staff. Not available if you have reported a claim.

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