Do Nurses Need Their Own Professional Liability Insurance?
If you’re in the medical field, you are dealing directly with the health and wellbeing of the people that come to see you for care. While you might do everything in your power to make sure that your patients become well again, sometimes things don’t always go the way we want them to; and unfortunately, those patients may see you as the reason for their predicament.
Before you know it, you’re involved in a nasty lawsuit, which can tarnish your reputation and especially burden you financially. While it is well known that medical doctors need malpractice and professional liability insurance, nurses also need coverage as well.
The Nurse Coverage Myth
It is a widely propagated myth that if you are a nurse, then you don’t need professional liability insurance coverage. The reason is because, usually, employers are the ones that provide this coverage to their nurses. However, there are a couple reasons why you should still purchase your own policy.
First, employers are going to have their own policies that suit their own interests. In the event that you end up in a lawsuit, your employer is looking out for the company’s interests, first and foremost. If burying your career will allow them to walk away unscathed during a law suit, then the attorney’s working for your employer are going to do just that.
In addition, sometimes these policies don’t often cover all employees by name, meaning that you might be left vulnerable in the event that your name ends up in the suit.
What Your Own Policy Can Do
Of course, many employers will not want you to purchase your own coverage for the simple fact that it isn’t in their best interests. First, this should say volumes about their intentions; and second, it is none of your employer’s business whether you are covered or not.
Essentially, having your own policy means that you will have an attorney going to bat for you and your interests alone. Also, it means that you can actually protect yourself from financial liability, and you can even have representation before the Board of Nurses.
Sometimes employers can even hold their own nurses liable for various problems in the workplace. Having your own policy gives you protection against your own employer, which is another reason why many medical care providers don’t want their nurses to purchase their own policies.
Having your own insurance will give excellent protection for your nursing license and overall professional reputation.
Your Own Policy
One reason why many in the medical industry don’t get professional liability insurance is because they believe it to be too expensive. While medical doctor’s malpractice insurance is expensive, it is rather reasonable for nurses.
In fact, nurses can get their own professional liability insurance for about $100 per year, which comes to less than $10 per month. For the protection you can receive for having your own policy, it would be well worth the cost. It’s basically peace of mind for the price of three lattes a month.
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