Individual Therapist Malpractice Insurance

If you are thinking about a job as a therapist, malpractice insurance may not be your major concern, although it will be essential. Many people who enter this field are not familiar with the different insurance options that are available for Therapist Malpractice Insurance.

Most of us know that doctors need to have malpractice insurance; however it is just as important to take out therapist malpractice insurance. Unfortunately, patients can and do sue their therapist and although some lawsuits are legitimate, it is advisable to be protected.

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The definition of medical malpractice is being negligent in treating a mental or physical condition. Other malpractice claims can concern misdiagnosis, inappropriate treatment or delayed treatment. Of course, all negligence claims would have to be proven to be justified.

The cost of malpractice insurance for a therapist can vary widely and it pays to shop around, as with any other financial product. Try to avoid insurance that has so many exceptions that it is almost worthless. Various factors can affect the cost of this insurance, including any previous insurance, the area you live in and increasingly, your credit history. Government employees do not have to take out individual malpractice insurance.

Medical malpractice insurance is quite different from other types of insurance and there are three basic types: Claims Made covers a therapist only for the period during which he or she is actually practicing. Prior Acts coverage protects a therapist against a claim made before the purchase of Claims Made coverage. This is known as Tail Coverage if it is bought from the same insurance company that issued the Claims Made policy. And Occurrence Coverage costs the most, but covers both current and previous claims. Always shop around for malpractice insurance. It also pays to have an understanding of the different factors that can affect the cost.

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