How Much does the Wrong Attorney Malpractice Policy Cost? – Disciplinary Coverage
The first question often asked is how much does attorney malpractice coverage cost? Don’t get me wrong, it is smart to price compare different attorney malpractice insurers. Just looking at the cost and not comparing coverage may mean paying for insurance that does not properly cover your law firm. So what is the cost of an uninsured or underinsured claim because the firm has the wrong coverage?
There is no standardized attorney malpractice policy. The attorney malpractice coverage provided is similar from insurer to insurer but not always the same. A particular attorney malpractice policy may not be suitable for your law firm.
Often attorneys may not take advantage or not know their policy may offer Disciplinary Coverage. This defense only coverage may have limits from $10,000 to $100,000 per policy period. Disciplinary proceedings attorney fees may run well over $30,000. Insurers’ policies maybe ‘duty to defend’ while other insurers’ policies maybe ‘reimbursement.’ Certain insurers only ‘reimburse’ after the determination is in favor of the attorney. Don’t find out what coverage you have after the notice shows up from the state bar.
Click the blog tag Disciplinary Coverage by Insurer to see coverage differences
Click Here For an Lawyer Malpractice Insurance Quote
Contact Me Today
Lee Norcross, MBA, CPCU
California License # 0D87292
L Squared Insurance Agency, LLC ® DBA in California as L2 L Squared Insurance Agency, License # 0L93416
Managing Director, CEO
Lee@L2Ins.com
616-726-7080
