Why is Attorney Malpractice Insurance So Important?

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When most of us hear about malpractice insurance, we immediately think of physicians, dentists, and other types of health care practitioners. Seldom, if ever, does the term “malpractice” conjures images of attorneys, beyond the fact, of course, that plaintiffs need to hire malpractice lawyers to file malpractice lawsuits on their behalf.

Since malpractice simply means “bad practice,” it can apply to any professional –particularly state or nationally-certified professionals — whose careless actions could result in severe, life-damaging consequences. Of course, these “consequences” can be either physiological or monetary.

Given the fact that physicians are licensed to perform risky medical procedures and prescribe potentially dangerous medications. In the event that a medical error ends up harming a patient, the “bad practice” may be grounds for the patient to file a malpractice lawsuit against the doctor. In a similar fashion, gross negligence on the part of an attorney could result in monetary or other damages (such as incarceration)to his or her client.

While the grounds for a legal malpractice lawsuit may be more difficult to prove in a court of law than medical malpractice, attorney malpractice liability insurance is always a good idea for every attorney. After all, if a client is willing to sue his doctor, the chances are they they will not shy away from suing their own attorney if the situation presents itself.

When it comes to legal malpractice in the United States, nearly 20% are connected with personal injury lawsuits, where a little more than 15% are related to real estate transactions. Since the legal profession lends itself to lawsuits, all attorneys must look into attorney malpractice insurance quotes. If a lawyer is wondering how much is attorney malpractice insurance only an insurance company can answer that question. However, most attorney malpractice insurance rates are much more affordable than medical malpractice insurance.

For attorneys who are wondering how much is attorney malpractice insurance, the answer is that attorney malpractice insurance costs vary. But the cost really does not matter, because all attorneys need to protect themselves against potentially catastrophic financial consequences. Helpful links.

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