Understanding Malpractice Insurance
Accidents happen, details get missed, this is a part of being human and even those of us that are charged with caring for other humans such as doctors or dentist are susceptible to human error. Years of school may hone a dentist’s skill but cannot take away the reality that none of us are perfect and eventually even dentists and doctors may make mistakes that could cost them their practice if they do not have malpractice insurance. The cost of making a mistake or missing something important has become increasingly high with lawsuits reaching millions of dollars in some cases.
Malpractice insurance is required by many states and even for those that do not require it you will find that the majority of doctors and dentists now carry it. It is estimated that approximately 96% of medical professionals are now covered by malpractice insurance. Malpractice insurance covers you in the event that someone chooses to sue you not only for mistakes you might have made but even for unfair claims that may be in no way your fault.
Malpractice settlements can range widely depending on the area of the country you live in and what type of practice you have. One malpractice lawsuit can ruin a medical professional however, so there is no real reason to not have malpractice insurance. We live in an age where malpractice law suits have been on the rise for years now with little hope of them getting better anytime soon. By purchasing malpractice insurance you will protect yourself and your practice from the unexpected unhappy patient that thinks you are to blame for his problems.
Malpractice insurance can be costly but even one claim against you will make the cost of your insurance well worth the money spent. For most dentists and doctors no matter how good you are it is not a matter of if, only a matter of when, since you cannot protect yourself from patients whose care goes wrong through no fault of your own. All medical procedures have risk and despite patients saying they are aware of that, they believe that someone should pay for their misfortune.
Even if you are not to blame and you win your case in court the cost of hiring lawyers and fighting a malpractice case can be nearly as bad as the settlement itself. Malpractice insurance companies will fight your lawsuits for you and a good insurance company will invest the money to make sure that your name is cleared and the lawsuit is dismissed. Most malpractice insurance covers the court costs and other fees so unless you feel the need to hire a personal lawyer your malpractice insurance premiums will cover it all.
If your are dentist who is looking for malpractice insurance at competitive rates then take a look at EDIC they will not only take care of your malpractice insurance but they can take care of all your other insurance needs as well. This keeps all of your insurance needs under one company offering you the most convenience and the best discounts.
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