Protect your business from the unique risks you face as a tax preparer with top-rated errors and omissions insurance from Berxi.
Errors and omissions (E&O) insurance for tax preparers is a type of professional liability coverage that can help provide legal defense and financial protection if a client claims you made a mistake in preparing their taxes.
The costs of defending or settling a claim can be substantial, even if you’re not at fault. Claims and lawsuits can also create a distraction from running your business. Errors and omissions insurance for tax preparers helps minimize the disruptions and out-of-pocket costs that come with such claims, while supporting you through every step of the process.
If a client claims you made an error or oversight that caused them financial harm, such as failing to fulfill a contract, making a mistake in tax preparation, or giving bad advice, your errors and policy can provide legal defense and financial support. An errors and omissions insurance policy from Berxi can help cover:
You work hard to help your clients navigate their tax returns and reach the best outcomes. But with so much complexity and information involved in every filing, even the most diligent tax preparer can make a mistake. And if a client claims you made an error that caused them financial harm, they could sue.
Every year, thousands of lawsuits are filed against tax preparers. In the event of a lawsuit, you’ll need to hire attorneys to defend yourself and potentially pay a large settlement. Without the right tax preparer insurance, these costs can be a huge blow to your business. That’s why it’s so important to protect yourself from costly lawsuits and reputation damage with comprehensive errors and omissions insurance.
The cost of your errors and omissions insurance depends on a number of factors, including where you operate your business, how much revenue you generate, and whether you’ve had any previous claims.
Berxi’s tax preparer insurance can start as low as $22 per month. Because we sell our policies directly to customers, without a broker in the middle, we’ve eliminated many of the fees typical in insurance purchases. That means you can save an average of 15% vs. industry standards.
The best way to get an idea of what your policy would cost is by getting a free quote. It only takes a few minutes, your policy can go into effect any day you’d like – including today.
With errors and omissions coverage from Berxi, you get comprehensive protection and peace of mind. We’re committed to making tax preparer insurance easier: easier to understand, easier to buy, and easier to afford. Benefits of choosing Berxi include:
Our industry-leading errors and omissions insurance is customized to protect you from the unique risks you face as a tax preparer, including claims of negligence, malpractice, and errors in tax preparation. If you ever face an errors and omissions claim, your policy can provide legal defense, financial protection, and more.
If a client sues you for making a mistake, Berxi will help get you your own lawyer from our network of expert defense attorneys, and we’ll pay their legal fees.
Plus, defense counsel and court fees are paid outside the limits of liability, which means they won’t reduce the amount of money available to pay for settlements.
If you decide to settle or you’re found liable for damages, your Berxi policy can cover the costs – meaning you or your business won’t be on the hook for a potentially hefty settlement. In addition, Berxi policies include “consent to settle,” which means we’ll never settle a claim without your approval.
Amount Covered: Limits of liability up to $1 million per claim/$2 million aggregate
If you’re investigated by a professional regulatory organization or licensing board, we’ll help appoint defense counsel for you and pay for the attorney fees resulting from the investigation.
Amount Covered: $25,000 per policy period
If we ask you to attend any depositions, trials, hearings, or arbitration proceedings in support of your defense, we’ll reimburse you for lost wages and any necessary expenses.
Amount Covered: Up to $1,000 per day
Want to find out what your Berxi E&O policy will cost? Get a quick online quote and see how much you can save. It only takes a few clicks, and your policy can go into effect as soon as you’d like.
Errors and omissions insurance can protect you and your business from claims and lawsuits related to the work you do for a client, but there are other risks that it doesn’t cover. Depending on your needs, you may want to consider these different types of business insurance in addition to your errors and omissions policy.
With errors and omissions insurance from Berxi, you get protection you can trust. We’re part of Berkshire Hathaway Specialty Insurance Company, which is rated A++ for financial strength, and our in-house customer support has been rated 4.92 out of 5 stars by more than 13,000 customers. That means we have the resources and expertise to protect you and your business when you need us.
We’re also a direct-to-customer insurance provider, with no broker fees or middlemen, and we pass the savings on to you. In fact, Berxi customers save an average of 15% on errors and omissions insurance. Get a quote and see how much you could save.
“The quoting process was easy and the price is better than anywhere I’ve found.”
– Jeremy B.
“My claims representative really cared about what I was going through and reassured me that Berxi was on my side.”
– Kim P.
“Completely stress-free setup and customized to my needs. So easy I didn’t even need to talk to anyone!”
– Che H.
There is no single line of insurance that covers every risk confronting a business. Errors and omissions insurance is no different: It covers some key professional liability risks, but it doesn’t cover everything, such as personal liabilities that should already be covered by other types of insurance policies. Here are some types of claims and liabilities that aren’t covered by errors and omissions insurance:
In addition to errors and omissions insurance, tax preparers should consider other types of coverage to protect their business, including:
The cost of errors and omissions insurance for tax preparers varies depending on factors such as your location, your revenue, and your claims history. At Berxi, we sell our policy directly to you, without any brokers or middlemen, and we pass the savings on to you. That means our customers save an average of 15%, and our tax preparer insurance policies start as low as $22 per month.
The best way to find out how much your policy could cost is to get a quick online quote.
If a client claims you made a mistake in preparing their taxes, errors and omissions insurance can be a financial lifesaver. Thousands of lawsuits are filed against tax preparers every year, and the costs of defending and settling a claim can be heavy. That’s why it’s so important to make sure you have the right protection. In the event of a lawsuit, errors and omissions insurance can help protect your business, your reputation, and your wallet.
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