Insurance
Malpractice Insurance

How much does malpractice insurance cost?

394041

Answer

User Avatar
Wiki User
09/23/2011

Without knowing what profession you are in, The risk factors and volume, there is no way of determining what you might need to pay. It could be as low as 2 thousand dollars per year or as high as 2 million dollars per year.

Answer

No way to answer this other than to say 'a lot' ! Contact some agents or companies that sell this type of coverage/polices and get some quotes.

*Note: costs for malpractice insurance vary widely by specialty. Imagine an ob-gyn's insurance compared to that for, say, a dermatologist.

Answer

Malpractice insurance premiums are adjusted according to the type of professionals or profession, the type and amount of coverage needed, and whether that insurance cover a group of persons or an individual. The location of the practice and particular area's laws can affect the malpractice premiums. Majority of doctors and medical professionals never use their malpractice insurance because it's rare that they need it. But they have to purchase the malpractice insurance as a safety net and it's also required by them in many locations.