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What does financial planning insurance cover?

Financial planning insurance helps protect financial planners, advisors, and accounting professionals from the cost of common risks related to providing financial advice, such as: 

  • Negligence claims 
  • Errors or omissions in your work or recommendations 
  • Third-party property damage  
  • Unplanned business interruptions  
  • Workplace injuries 

BizInsure understands the insurance needs of financial planners and advisors. We offer coverage options suited to independent finances professionals and growing businesses. 

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financial planner

Why do financial planners need insurance?

Financial planners consider insurance to help cover the cost of claims, lawsuits, and other unplanned expenses. Professional Liability and/or General Liability insurance may be required to work with certain clients. Workers’ Compensation insurance is required in most states for businesses with employees. 

Financial planners and advisors must navigate a complex legal and regulatory landscape in providing advice. However, even the smallest mistakes could lead to expensive claims or lawsuits. Insurance helps financial planners and advisors protect their business, finances, and staff. 

Who needs financial planning insurance?

We offer personalized coverage to several types of financial planning and advisory businesses, including:

Accountants

Financial Planners

Bookkeepers

Consultants

Financial services

Tax Preparers

And more!

What types of insurance do Financial Planners and Advisors need?

BizInsure offers a broad range of insurance solutions tailored to the insurance needs of financial planners and advisors, protecting against negligence and third-party claims.

General Liability

General Liability insurance

General Liability is the most common and essential type of business insurance. It can protect your business against bodily injury or property damage lawsuits from outside parties.

Coverage: Up to $1 million per occurrence / $3 million in the aggregate.

General Liability
Business Interruption insurance

Business Owner’s Policy (BOP)

A Business Owner’s Policy (BOP) is a convenient insurance package that combines General Liability with coverage for your business property, inventory, and owned buildings.

Business Owners Policy
PL insurance

Professional Liability insurance

Professional Liability insurance, also known as Errors & Omissions insurance, protects you against claims of negligence, misrepresentation, or mistake that result in financial loss to a third party.

We offer coverage up to $1 million per occurrence and $3 million in the aggregate.

Professional Liability nurses
Workers comp

Workers Compensation Insurance

Workers’ Compensation insurance protects your business and employees in the event of a work-related illness or injury. This includes costs for medical care, replacement of lost wages, funeral costs, and disability support.

Workers Comp insurance

Fast, simple, and convenient

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How much does financial planning and advisor insurance cost?

General Liability insurance for financial planning and advisory costs from $28.86 per month*.

    Cost factors
    insurance for financial planner

    Factors influencing cost

    • Risks of the industry 
    • Coverage level amount
    • Annual turnover
    • Number of employees
    • Claims history

    The pricing information on this page is general in nature and provided for illustrative purposes only. It does not take into account your specific circumstances, business operations, or risk profile. Actual premiums vary based on your profession, location, claims history, and other factors.

    Levels of coverage

    Get flexible coverage to match your needs

    We offer different levels of insurance to suit self-employed practitioners or multi-advisor firms.

    Professional Liability insurance

    Coverage levels to choose

    • Up to $1 million per occurrence
    • Up to $3 million in the aggregate

    General Liability insurance

    Coverage levels to choose

    • $1 million per occurrence
    • $3 million in the aggregate

    Unsure how much to choose? Think about:

    • Statutory Profession Requirements
    • Coverage required by contracts
    • Number of employees being covered
    • Your contract value
    • Worst case scenario claim size
    Cost factors
    insurance for financial planner

    Factors influencing cost

    • Risks of the industry 
    • Coverage level amount
    • Annual turnover
    • Number of employees
    • Claims history

    The pricing information on this page is general in nature and provided for illustrative purposes only. It does not take into account your specific circumstances, business operations, or risk profile. Actual premiums vary based on your profession, location, claims history, and other factors.

    Levels of coverage

    Get flexible coverage to match your needs

    We offer different levels of insurance to suit self-employed practitioners or multi-advisor firms.

    Professional Liability insurance

    Coverage levels to choose

    • Up to $1 million per occurrence
    • Up to $3 million in the aggregate

    General Liability insurance

    Coverage levels to choose

    • $1 million per occurrence
    • $3 million in the aggregate

    Unsure how much to choose? Think about:

    • Statutory professional requirements
    • Coverage required by contracts
    • Number of employees being covered
    • Your contract value
    • Worst case scenario claim size

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