The Basics of Nurse Malpractice Insurance

Nurse Malpractice Insurance

One thing many nurses don’t know is that they need some kind of nurse malpractice insurance to protect them from potential legal damages. Whether or not your employer provides insurance coverage of this type is a matter you would need to discuss with your Human Resources department. If you are not covered then you may have to foot the bill for your insurance premiums. Many nurses wonder if it is worth it to pay for their own nursing malpractice insurance.

The answer is usually a resounding yes. Nurses malpractice insurance can protect you against lawsuits and claims of negligence from patients you have helped treat. While you may not think nurses are susceptible to lawsuits they do get sued in malpractice suits by patients, agencies and even third party groups and class action suits. Malpractice insurance for nurses is not going to cost as much as the same type of insurance for physicians and surgeons. However it can be costly but there are some ways to reduce the financial impact of insurance coverage.

Comparison between different policies and different agencies is crucial if you want to get a policy you can afford that imparts the legal protection you need. Nurses who are preparing to shop for insurance should know about the two main categories which are claims made and occurrence. Claims made means your coverage is only good when the claim is in effect. This means you must carry coverage to protect you against claims that may be placed in the future. Occurrence means you are covered as long as your policy is in effect, even if your coverage is not. Your agent can tell you more about these two types of nursing insurance.

Once you’ve chosen an insurance company you can speak with your agent about any questions you may have. It is important to know what your limits are, what your policy protects against and what you would be responsible for if a claim was filed against you. Not only is nurse malpractice insurance important to have, it is crucial that you understand what your policy means. Insurance subjects may not be your forte, but education is a must in order to protect yourself against fraudulent lawsuits and false claims. Also if you ever do make a mistake considered malpractice you will want to know what kind of protection you have and how to proceed.