Insurance for Financial Planners
  • Post last modified:October 5, 2020
  • Post category:Insurance

October is Financial Planning Month, and in honor of that, we’d like to discuss what coverages are best suited for a Financial Planner on their insurance policy. If you are not a Financial Planner and you are looking for ways you can save money during Financial Planning Month, then you can check out these ideas. Although, if you’re a Financial Planner looking for more information on insurance, then you’ve come to the right place!

Professional Liability Insurance

When it comes to commercial insurance for Financial Planners, the first coverage you should consider for your policy is professional liability insurance. This coverage will protect you against negligence and other claims allege by your clients. This coverage is also known as E&O insurance, and can also cover malpractice or misrepresentation claims. In most cases, Financial Planners aren’t necessarily required to have this coverage, but we wouldn’t be doing our job to properly service you if we didn’t recommend this protection to you and your business.

Cyber Liability

As a Financial Planner, you will be holding quite a lot of sensitive information from your clients. In today’s world, in most cases this information will be digitally stored on your computer. Even though your business may take heavy precautions protecting this data, we want to ensure you can stay free from worry in the event that your data was compromised. Cyber liability insurance will keep you covered in the event that someone were to breach your computer or electronically stored data.  

Workers Compensation

Do you or your employees end up performing the same types of tasks repeatedly throughout your work day? Additionally, are these tasks spent in front of a computer screen the majority of the time? For desk jobs, the you may not see the importance of workers compensation, but to be honest, it’s critical to your success. Strain from doing the same tasks over and over, such as eye strain, neck strain, carpal tunnel, and more will make this coverage very much so worth it for your business in the long run.

Business Owners Policy

Every business owner should at least strive to have a business owners policy to keep them protected from general liabilities. As a business owner, your plate is full. You are busy serving customers and building your business—and your reputation. There’s a good chance you’re active in your community, helping to strengthen it and its people. If you’re more than a one-person shop, you have employees and their families to worry about. Of course, your own family is a priority, as well. Oh, and when you have a free moment or two, you’re probably trying to work through volumes of paperwork and other administrative tasks associated with running a successful business.

You can trust our agents to review this coverage with you in full, so that you have an easy experience and completely understand what you are protecting along the way. To discuss the right coverage for you and your financial planning business, reach out to us today by clicking the banner below, and let our professional, licensed insurance agents take care of all the leg work for you and shop among over 20 carriers to find you the very best price for the coverage you need!