Get a physician professional liability insurance policy today, so that you do not have to worry about a malpractice claim ruining your career. As a physician, you are in charge of people’s health and well being. When something like this is at stake, there is huge risk for lawsuits. Even the most careful doctor can sometimes make a mistake, so it’s important to have some coverage that will protect you from lawsuits. Getting a doctor or contractor professional liability insurance policy is the right thing to do, as it can save you lots of money and time.
All it will really take is one lawsuit to ruin your career, and this is a scary thought but it’s true. If you have no coverage or too little coverage, then you could be in a bad situation after a lawsuit is filed against you. You could have to pay damages in outrageous amounts, all out of your own pocket. If this were to happen, then it could end up bankrupting you. All of the hard work and effort you put into your career as a physician would be wasted completely. When you get a great professional liability insurance policy, this will not be the case and you won’t have to worry so much.
Getting Special Discounts
When you are looking for a physician professional liability insurance policy, you are going to want to try to keep an eye on your costs. Depending on the level of coverage that you choose, it can cost an awful lot for your policy. As such, you’re going to need to be on the lookout for any deals and discounts that you can possibly get. Fortunately, there are lots of ways to save on your professional liability insurance coverage.
One thing that a lot of companies out there are offering is deals and discounts to those who belong to the American College of Physicians. If you are a member, you can get a variety of different discounts on your physician professional liability insurance policy that will make your premiums each month go way down. One discount that you can look forward to is a discount for not making any claims on your policy in the previous years. If you have not had to make any of these claims, then you could end up saving a lot on your professional liability insurance coverage.
Another way that you save on your physician professional liability insurance coverage is to make sure that you keep your board certification up. This is going to prove that you are committed to patient safety, and this is something that will no doubt impress providers. Professional liability insurance coverage is always going to be about risk, and providers are going to want to give low prices to those who pose the lowest risk possible. When you work hard to keep your certifications up to date, then you are going to become less of a risk in the eyes of physician coverage providers.
How Coverage Can Help
When you secure a physician professional liability insurance policy, you are going to be getting coverage that will help you in a variety of ways. First off, the coverage that you select is going to help you, as a physician, pay for all of the legal expenses that might arise when you are brought to trial. These expenses can quickly get out of control so it’s best if you do get a physician professional liability insurance policy that has a lot of room for these kinds of costs. Without one, you could be facing financial ruin.
In addition to providing coverage for trial expenses, physician professional liability insurance coverage is also going to provide you with some coverage for damages that might be awarded in your case. If you are found guilty of malpractice, then you could be held responsible for a lot of different expenses. This could threaten your career as a physician, if you don’t have the right level of professional liability insurance coverage for your needs as a physician. You can count on your policy to help you with these damages, but you may need to think long and hard about what level of coverage you would like to secure.
Some physician professional liability insurance policies are going to offer you protection from unique threats, such as cyber protection for your patients’ records. If someone happens to break into your office database and get patient information from it, then you could be facing some legal issues because of it. As such, you’re going to want to think about how big of a risk this might be. If you think it’s likely to happen, then you will want to get a physician professional liability insurance policy that offers such coverage.