Professional Liability Insurance (Malpractice): Who Qualifies and What You Get
Protect your practice with malpractice insurance to cover legal defense and settlements if a client files a claim against you.
Professional liability insurance provides clinical workers with financial protection against claims of professional errors or negligence.
Who it's for
This coverage is designed for all practicing clinicians.
What you get
If a client files a claim against your professional practice, this insurance provides coverage for your legal defense costs and any settlements that may be required.
What it costs you
The cost is an annual fee, typically ranging between $150 and $400 depending on the specific coverage limits you choose.
The catch to know
You must pay close attention to whether your policy is "occurrence" or "claims-made" coverage. If you choose a "claims-made" policy and later decide to switch providers, you will likely need to purchase "tail coverage" to ensure you remain protected for past actions.
How to apply
- Determine the specific coverage limits required for your practice.
- Compare different insurance providers to find a plan that fits your budget.
- Select a policy type (occurrence or claims-made) based on your long-term needs.
- Complete the enrollment process through your chosen provider.