Do you have liability insurance?

I purchased liability insurance day one. I also feel I will not make a mistake to that extent that would justify legal action. I view the insurance like I view my car insurance. I have never had a ticket, accident or claim in the 20+ years I have been driving; however, I want to cover myself because I can't control how others drive. In this case, I don't want my business to have legal action taken against it and I am not prepared. That can be costly to your business. Most of the CPAs in my area won't even consider allowing you to help them if you don't have professional liability insurance.

How did you find the right liability insurance?

through professional organizations and meetings.

I contacted my agent who handles my Home Owner's and Car insurance. I had to complete a series of questions regarding my experience, my business etc. I also received a quote from another agent and found my home owner's agent was about $300 cheaper since I have all my other policies through them.

Tracia

Cool, thanks Tracia.

I contacted a broker I've worked with on behalf of my employer in the past for PLI purposes. She sent me a loooong application, which I completed and sent back. Anxious to know what the number will be considering I'm a startup with little revenue. Keeping fingers crossed...

Both the National Association of Certified Public Bookkeepers (NACPB), www.nacpb.org, and American Institute of Professional Bookkeepers (AIPB), www.aipb.org, provide discounted Liability (Errors & Omissions) Insurance for their members.

Melissa Smith, CPB
Certified Public Bookkeeper
Member: National Association of Certified Public Bookkeepers

E&O (errors and omissions) insurance is different from basic business liability insurance. You really need both. E&O protects you from yourself. Liability protects you from a client tripping on your welcome mat, or a fire destroying your office. General liability insurance can be obtained from almost any good local insurance broker (we use a large firm here in Portland that does a lot of business insurance). But when we asked them for E&O, they quoted us something that was going to cost several thousand a year in premiums. I was appalled. That's where you want to turn to the national professional associations mentioned by a previous poster.