One of the most important things an attorney can have is legal malpractice insurance. This coverage not only protects the attorney and his or her firm, but the clients relying on that attorney as well. Whether you practice law for a large corporate firm or for a small legal practice, make sure that your livelihood is not put at risk should you face a malpractice suit. Consider these four reasons to get an attorney malpractice insurance quote and purchase attorney liability insurance today:
1. Those who practice law in smaller firms, with five or fewer attorneys, are at the most risk for a malpractice suit. An estimated 65% of firms this size face malpractice lawsuits. However, even attorneys who work for larger firms are at risk, making up for over one-third of the remaining malpractice suits.
2. The American Bar Association states that attorneys can be held liable for cases dismissed due to the lawyer’s negligence rather than anything to do with the legitimacy of the case. Negligence can be the product of human error and not a reflection on an attorney’s ability to win a case. Therefore, it’s important for any practicing attorney to protect against this risk by simply paying the cost of attorney malpractice insurance.
3. Without malpractice insurance, the assets of an attorney or firm can be frozen if faced with a malpractice lawsuit. This creates extra headaches for the firm and its clients. To avoid these disruptions, it’s important to start by getting your attorney malpractice insurance quote today.
4. Should you be faced with a malpractice suit, insurance will help you cover the cost of defense for yourself and your firm. Although this situation isn’t something that is guaranteed to happen, it is possible. Having legal protection for yourself and your firm is imperative and can protect your earnings and career as an attorney as well.
Prices can vary by location and type of practice, so the cost of attorney malpractice insurance in Philadelphia will be different than the costs in California. Get an attorney malpractice insurance quote today and avoid the unnecessary problems a malpractice lawsuit can cause for you. Helpful sites.