Legal Malpractice Insurance Rates

by ryan on February 8, 2017


Legal Malpractice Insurance Rates


There are a myriad of really great reasons why it is very important – especially in the
lawsuit happy country that we live in – to know about legal malpractice insurance rates.
There are also many different profession that such rates apply to that without having such
insurance, they would not be able to legally operate in the United States. Perhaps the
most important aspect of legal malpractice insurance rates is that they can rise and fall
depending upon what region of the country that you are based out of, as all regions have
different risk assessments that are made by the insurance companies. Paramount to this is
the other side of the coin: what happens if you are in a profession that has liability and
you don’t have legal malpractice insurance rates, what are your options? Hence the
utmost importance of always making sure that you are insured adequately.


Seeing as the risk can vary by region, city and state, there are many different legal
malpractice insurance rates that are out there. There are some other factors that apply
here as well too. Like what you do for a living – in most instances this applies to
professionals like doctors or dentists – what the nature of your practice is, how long you
have been in business, how many times you have been sued and so forth. Not forgetting
what your overall assessed liability may be with regard to any sort of litigation occurring,
be it from a client, or even be it from an employee. All of the above will greatly impact
legal malpractice insurance rates in your area.

Most Affordable States

There are some states in the US where the rates are considered to be the most affordable
and the cheapest. One of the lowest cost states for this insurance, according to online
reports, is Minnesota, where for example a surgeon may pay out, on average, about ten
thousand per year for insurance. Whereas in the same state an OB/GYN doctor would
shell out a hefty seventeen grand per year, as having more assessed risk in this region for
their profession.

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