Puzzling Out The When And Where Of Insurance

Insurance has slowly pushed its way to the upper echelons of the priority list over the years and it seems that people are purchasing more as they try to have coverage for every emergency.  One of the most important forms of insurance is workplace insurance.  Providers are doing their best to earn business and have been luring customers in with lower prices, while glossing over the fact the policies are not covering as much.  When reading over a policy regarding Therapist Liability Insurance, the therapist may start to question exactly what they are covered for.

Malpractice insurance is just a necessary evil of any medical profession and due to the skyrocketing settlements coming out of courtrooms many practitioners simply do not have enough coverage.  While an employer or larger company will have a malpractice policy of their own, an individual should look into a personal policy to help avoid out of pocket expenses from a verdict.  Legal costs can quickly outpace barebones or state minimum amounts of coverage.

Whether or not the coverage extends outside of work hours can be an important part to note in a policy.  Therapist Liability Insurance from an employer generally only applies during work hours, which can be problematic due to the odd hours that a therapist can encounter, especially when people consider the lengths lawyers will go to in order to shift blame and obtain a monetary award.  The advantage to an individual policy is that it will usually cover a person all day, every day.

A mistake that many practitioners make is that they do not realize their company’s policy is a shared policy; this becomes an issue when multiple people are named in a lawsuit against the company.  The insurance coverage limits are spread out and can drastically diminish the amount of coverage available to the individual.  Depending on the state, the group can be held liable for the entire financial responsibility causing a greater out of pocket expense even though it was others who were primarily at fault; this is another place where having an personal policy will add that additional layer of protection and prevent unbearable out of pocket expense.

Encouraging another layer of insurance may seem like a thinly veiled sales pitch, but the need to protect savings and personal property is a must in today’s society.  Therapist liability insurance is just one profession that has to be concerned about multiple layers of insurance; they work on a daily basis with people and often have a great impact on the livelihood of their patients.  Even the extremely cautious and confident practitioners will run into unforeseen complications where insurance will become a must, plus it can be a great stress relief knowing there is coverage when accidents occur.





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