Low Cost Professional Liability Insurance for Attorneys

Low Cost Professional Liability Insurance for Attorneys

Low Cost Professional Liability Insurance for Attorneys

Growing up, I had some neighbors who were chronically litigious. Initially, the husband had filed and won a legitimate case against his employer for workplace negligence. Once they had spent the money they were awarded from that case, the couple began suing anyone and everyone who they felt were negatively affecting their lives in some form or fashion. In one of their more ridiculous cases, the wife sued their long-time attorney for failing to win a suit she had filed against a local business. Irony of the situation aside, there is a real need for attorneys to carry liability insurance to financially protect themselves when lawsuits are brought against them. Finding a low cost professional liability insurance policy is the best way to obtain that financial protection without negatively impacting your operating budget.

Another, oftentimes interchangeable, term for professional liability in this industry is “errors and omissions” insurance. Regardless of the outcome of the cases you try, your clients can and occasionally will find fault with your practices and procedures during your time together. In the event that these clients decide that you are responsible for reimbursing their legal fees, paying for damages, or some other form of repayment; your professional liability insurance policy will provide you and your practice with a layer of financial protection by paying for defense costs and any settlements that are issued.

Finding a low cost professional liability insurance as an attorney does not need to be a difficult venture. The first step in this journey should be to find an insurance agent who provides you with a fair and honest rate, all while providing you with the information and guidance you need to make an educated decision. Consulting your fellow attorneys and even your state or local bar association for a recommendation regarding insurance providers is one way to find low cost professional liability insurance. Speak with several agents to determine if there are differences in coverage or premium amounts within the industry.

A second step in finding a low cost professional liability insurance policy may actually need to take place after you have found an agency with which you would like to do business. High premiums are often the result of a high number of claims on a policy, and if you are operating your practice in a manner which would potentially expose you to a high number of claims, your premium will rise accordingly. Your insurance agent should be able to provide you with guidance and advice on how to close loopholes and liabilities to reduce your risk for lawsuits and your premium. For example, your insurance agent may want to review your client contracts to ensure that the language in the contract explicitly explains in what situations you may or may not be held liable.

A proper insurance policy is an important component of a well-protected, well run practice. Schedule an appointment with an insurance agent today to discuss your coverage options and determine what steps you will need to take to obtain your own low cost professional liability insurance policy.


All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.

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