When you're a doctor, there are numerous policy options you'll have to consider. Medical malpractice insurance is necessary for all physicians because it offers specific coverage for the specific needs of physicians.
An independent insurance agent can help with coverage and premiums that fit your needs and budget. They do the comparison shopping for you so that you can save time. Connect with a local adviser for tailored protection today.
What Is Medical Malpractice Insurance?
In Tennessee, you'll need a variety of insurance policies for adequate protection. Medical malpractice is not only needed but usually required. Check out what medical malpractice insurance covers:
- Medical malpractice insurance: This is a specific type of professional liability coverage for a physician. It provides liability coverage for claims arising from services rendered that result in injury or death to a patient.
What Does Medical Malpractice Cover in Tennessee?
Every operation will need insurance in some form. When you're a physician, a patient could become injured, ill, or die under your care. Take a look at what medical malpractice insurance will cover:
- Bodily injury
- Property damage
- Lawyer fees
- Court costs
- Arbitration costs
- Settlement costs
- Punitive and compensatory damages
What Doesn't Medical Malpractice Cover?
Similar to professional liability insurance, your medical malpractice coverage will have exclusions. Each policy is meant to protect against specific perils. Anything outside of that is not included. Your medical malpractice insurance will not cover the following losses:
- Sexual misconduct
- Criminal acts
- Alteration of medical records
How Much Is Medical Malpractice Insurance in Tennessee?
Your commercial insurance pricing will depend on several risk factors. In Tennessee, medical malpractice insurance will usually be the most expensive policy you own. The following personal data determine coverage and rates:
- Prior claims
- Safety practices
- Sanitary practices
- Medical practices
- Years of experience
- Staff procedures and care
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Is Medical Malpractice Insurance Required?
Almost every state requires physicians to carry medical malpractice coverage in order to maintain their licensure. Tennessee is no different, and the hospital, clinic, or practice you work for will mandate it as well. Medical malpractice coverage is necessary for the following healthcare professionals:
- Medical doctors
- Medical students
- Practice staff
- Anyone who provides patient care
Does Umbrella Insurance Cover Medical Malpractice?
Commercial umbrella insurance is necessary when you have a substantial liability loss. Unfortunately, your Tennessee medical malpractice coverage is not included under your umbrella policy. It is vital to obtain the correct limits of protection from the get-go. Take a look at what umbrella insurance can do:
- Business umbrella insurance: This is additional liability insurance for a substantial loss when your underlying commercial policy limits have been exhausted. Bodily injury, property damage, and slander claims are covered.
How to Choose Medical Malpractice Insurance In Tennessee
When you're a Tennessee physician, there are many things you'll be responsible for obtaining. Your insurance coverage is one of them and should be reviewed for accuracy. Medical malpractice insurance is one of your most essential policies and can make or break your reputation and livelihood.
Fortunately, an independent insurance agent can assist with their network of carriers. They will have coverage and premium options that won't break the bank. Connect with a local expert on TrustedChoice and start saving today.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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