Psychology can be an extremely rewarding career for people who are satisfied by meeting and helping others, and being a psychologist can entail a lot of responsibilities – including the responsibility to cover your practice with psychologist malpractice insurance. This can be expensive, but is necessary for any professional practicing psychology. For many professionals, the cost of insurance is worth it to continue practicing a specialty that they are passionate about. For these people, a wealth of information exists to assist them in choosing a policy that will benefit them best.
Most common policies fall under the category of Psychologist Malpractice Insurance. These insurance policies come from a number of different agencies and carriers, and cater to professionals from a number of specialties. If a psychologist practices with a clinic, hospital or other institution, it is likely that they will already be covered by liability insurance by the facility they work for.
However, there are many professionals that choose to practice independently, and these people need to purchase comprehensive coverage on their own. Generally, they will need to purchase occurrence coverage, which covers claims that happen even years later during retirement. Claims coverage only covers during years that a professional is practicing.
Psychology is a rewarding and passionate career field for those who are suited for it, but it carries the same baggage as any career that involves working closely with people. It is important that practitioners make sure they are covered against liability or malpractice suits. By purchasing the appropriate psychologist malpractice insurance, a psychologist can ensure that they are covered for years to come.