How to Get Medical Liability Insurance

Physicians and other professionals in the medical field are required to pay medical liability insurance to practice medicine in most states. This type of insurance coverage protects the assets of medical professionals from litigation. The insurance is used to pay awards given in litigious cases. Here’s how to get this type of medical malpractice insurance.

Difficulty: Moderate

Instructions

1. Decide whether or not you will get a group medical liability insurance policy or whether you want to be independently covered. The rates will be lower is you choose group liability or get insurance as an employee benefit. Physician groups negotiate for broader coverage and low rates. You medical malpractice insurance will be covered if you are employed by the government or a hospital.

2. Next decide whether you want to get your insurance from a commercial company or a physician-owned mutual company.

3. The next step is to research the different companies offering medical liability insurance. There are places online that will have ratings for the various companies and show them side by side. Premiums will vary with the degree of risk involved and the geographic location.

4. Decide who to get your medical liability insurance from. There are countless places such as your local bank (i.e. Wells Fargo) or from am insurance company such as State Farm Insurance. These are only 2 suggestions and there are countless others that offer medical malpractice insurance.

Tips & Warnings

• Though not recommended, some medical professionals decide to “go bare” which means they are not covered by any medical liability insurance. This is allowed in states such as Florida for example.