Many business owners contemplate getting liability insurance to cover their companies and themselves if something goes awry. With that said, some people wonder if medical malpractice insurance is different from pro liability insurance. Malpractice insurance and liability insurance are two confusing terms, and they are sometimes used interchangeably, even though they are very different.
Malpractice Insurance
Malpractice insurance is often bought by medical service providers and is actually a specific form of liability insurance. It is designed to address higher costs that might arise from medical claims that people make against doctors, nurses, dentists, and various other types of medical professionals.
Other professions do not need to buy this kind of insurance. Medical malpractice insurance is not typically used by massage therapists or skilled professionals who do various types of bodywork. When shopping for medical malpractice insurance in Boca Raton, consider whether your business really needs this type of liability insurance, as it is a more costly option.
Professional Liability Insurance
Liability insurance for professionals is coverage for property damage or bodily injury arising from a service that a business provides to its clients. Pro liability insurance is helpful for many different professions. Its application is more universal, so even educators, therapists, and social workers can benefit from having a policy.
Consider a massage therapist who uses hot stones to help clients relax as a part of their treatment. In most cases, there is no harm caused by this procedure. On rare occasions, if something does go wrong, the client could get burned. Pro liability insurance helps protect the massage therapist from claims filed by the client. Accidents happen in every profession, so having this type of liability insurance coverage can be a lifesaver when those unforeseen accidents occur.
Which Type of Insurance Works Best for Your Business?
As you can see, these two types of insurance have different applications. If you are a healthcare provider, medical malpractice insurance could save you from costly claims. If a patient’s surgical recovery doesn’t proceed as expected or if they are prescribed a medication that gives them a bad reaction, your liability is more difficult to challenge in a court of law.
Other professions benefit most from pro liability insurance. There aren’t high premiums involved as there are with malpractice insurance, but you still receive well-rounded coverage that is appropriate for your business.
Buying the Right Insurance
Malpractice insurance is tailored toward the medical profession, but everyone else can benefit from the professional form of liability insurance. Getting slammed with a lawsuit from a client claiming malpractice is devastating for any business or practitioner, so it is best to have the proper insurance protecting you against these lawsuits.
Are you ready to purchase your medical malpractice insurance in Boca Raton? Contact National Risk Experts today for a complimentary consultation to learn your options!
