Professional Liability Insurance Rates

Outside of some of the most expensive medical specialties, Professional Liability Insurance is not extremely expensive compared to other insurance products available to businesses owners. Many professionals will find they are able to get $1 million of per occurrence insurance coverage for as little as $1500 a year.

Doctors and other medical professionals are a different story, however. Medical Malpractice Insurance regularly runs into the tens of thousands for doctors and can sometimes be the biggest cost that a medical practice faces on an annual basis. This fact should come as no surprise to anyone in a medical career. However, considering the huge potential cost of lawsuits, as well as the high price tag for mounting a defense, any professional who provides services for a fee should consider purchasing Professional Liability Insurance.

Professionals shopping for any type of Professional Liability Insurance should make sure to get quotes from several insurance companies because rates can vary from insurer to insurer. A business owner may also be able to improve his or her rate through a good loss history, or by improving policies and procedures in the business. Some insurance companies also provide discounts to businesses that have several policies with the same carrier.

 

 

 

 

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