Professional Indemnity Insurance for accountant

[malfoy]

I am trying to determine the level of cover I require.

I work via an agency who places me with clients. I do bookkeeping, mgt accs, VAT returns, the occasional set of stat accs, draft tax comps.

If anybody has any experience, suggestions this would be gratefully appreciated.

TIA

I think accountants usually work on a multiple of fees and when I was employed we limited liability to 10 times the fee. I have recently set up as a self employed accountant although not doing basic bookkeeping just cash flows, financial models and business plans and I have got cover of £100,000 - only have one client so far and not expecting to have earnings of more thank 10k from this client in one year. I think the best way to do it would be to guess what your highest annual fee is likely to be and your minimum cover should be at least 10 times this amount. If you have a lot of small clients with only low fees then I would propbably go for the minimum available (which was in fact 100k and cost me £210 for a year).
Hope this helps
A-M

Thanks! that helps.

and good luck with your self employment.

Who do you use for your PII? so far I have only got a quote from Hiscox.

Also, on a different note, how do you get clients/ advertise yourself?

Hi again
I have used SBJ Professional for the PII insurance. My first and so far only client was won through word of mouth and at the moment I dont want any more just yet but if I did I would probably join a local networking group or look up some old contacts. My work is slightly different to general bookkeepping in that I will earn more from each client so dont need very many to keep me busy.