Being a medical professional has its own risks. Therefore, having Medical professional liability insurance or sometimes referred to as medical malpractice insurance is a must. This type of insurance will help protect physicians and other licensed health care professionals like dentists and nurses from liability related to malpractices resulting in medical expenses , bodily injury, property damage and the costs of defending lawsuits associated with such claims.


To ensure that you are properly covered, it is important to fully understand your policy. The following advice will help you get quality coverage as well as lower premiums.1)    Be Proactive and manage your risks

Generally, several factors including the number and severity of wrongful practice claims affect a physician’s premium rate. Therefore, to save money, you should be taking the initiative to manage your risks. For you to help lessen the chances of claims being reported, you and your medical staff should: use therapeutic communication to patients (which includes listening and using easy-to-understand language), implement proper record keeping to document all patient visit activity and make use of patient satisfaction surveys to improve services.

2)    Participate in risk reduction programs

Aside from actively managing your risks, some insurance companies have risk reduction programs for your medical professional liability insurance. Participating in such programs is free of charge and you can gain premium incentives after completing specific programs that they offer. This can help you save money.
3)    Inquire for premium discounts

Ensure that you ask the details about your policy and inquire about discounts that you are eligible to avail of.  Depending on your policy, you can qualify for discounts on your premium if you:
·         have no history of malpractice claims
·         just started practicing
·         practice part time
·         operate within a group

4)     Evaluate your insurance policyIt is essential that you understand your coverage and its features. By assessing and evaluating your policy plan, you are able to ensure that you are protected and that it will be advantageous for you in the long run. For instance, if you are accused of malpractice, a policy that includes consent-to-settle clause and a strong defense attorney, can save you money when it will yield positive outcomes in your favor.

The money you save from following such tips can help you to invest in other important matters like improving the health care services you provide to your patients. For your insurance needs, you can reach us at (859) 543-8955 or visit our office today. Professional Insurance Plans can help you find the right coverage at the lowest rate no matter what your needs are.