Solo Bookkeeper, New Business

A sole-operator bookkeeper in Western Sydney was establishing their first practice. With less than $100,000 in annual revenue and no staff, they needed $2M in Professional Indemnity cover alongside $20M Public Liability to satisfy client contract requirements.

The client had already received a competing quote from another provider totalling roughly $1,000 for PI and PL combined, and wanted to know if they could do better.

We went to market across six insurers to obtain standalone PI quotes at $2M, as well as combined PI and PL package options. This gave us a clear picture of where the market sat for this risk profile.

Standalone PI quotes at $2M ranged from around $435 to over $1,000 for the same risk, demonstrating exactly why comparing the market matters. We also obtained combined PI and PL packages to assess whether bundling offered better value than purchasing each policy separately.

We sourced a combined PI and PL package at around $935, beating the client's competing quote. We also applied a stamp duty exemption that the previous provider hadn't factored in, reducing the total cost further. Stamp duty exemptions aren't applied automatically and are something brokers need to identify and action.

Within the first year, the client added BAS services to their practice. We processed a mid-term endorsement to reflect the expanded scope, with no significant change to the premium.

By renewal, the practice had evolved significantly. The business was now roughly 30% bookkeeping and 70% tax agent work. We went back to market with the updated risk profile and re-placed the policy with a different insurer at around $675.

This case highlights a common pattern we see with bookkeeping startups: the practice evolves, services expand, and the insurance needs to move with it. Having a broker who re-markets at renewal, rather than auto-renewing, can make a meaningful difference.