Combined Insurance & Accounting: Better Coverage, Less Hassle

One of the first questions that comes to mind when considering insurance from an accounting firm is “why choose this option over a traditional insurance company?” The answer is simple: when your accountant and insurance agent are in the same place, they can communicate about your business’s unique needs more effectively. 

Your Accountant Has Information About Your Business

Your accountant has the information that an insurance agent needs to properly write an insurance policy for you. They have years of data and forms that they have filed on your behalf, which can greatly impact the accuracy of your policy. 

Revenue Insights

Being specific about your revenue is crucial when writing an insurance policy. Your accountant can provide accurate information about your revenue, which can prevent unexpected increases or decreases in your insurance policy.   

Your Business Growth

As your business grows, your insurance needs change. By having your accountant and insurance agent in the same place, they work together to ensure that your coverage is appropriate for your business's current position. This level of communication and collaboration is not typically offered by traditional insurance agents. 

Access to Payroll

Additionally, your accounting firm often has direct access to your up-to-date payroll reports. Since some policy premiums, like Workers' Compensation, are directly linked to your payroll, this access allows your accountant to provide your insurance agent with accurate payroll information. This will help determine the appropriate coverage and pricing for your workers' compensation policy and remove unnecessary confusion at your annual audit.        

Free Up Your Resources

Overall, having your accounting and insurance services in one place offers convenience and efficiency. It allows for better communication and collaboration between your accountant and insurance provider, ensuring that your coverage is accurate and appropriate for your business's needs. When you choose an accounting firm that assists in your insurance needs, you streamline your financial management and ultimately free up precious resources—like time— to focus on growing your business. 

Want to know if Kaizen Risk Management can create the perfect policy for your small business? Click on the ‘Schedule a Call’ button to see if we are the right fit for you.