Originally Posted by LarryG Agree.
So if you own a house and /or vehicles and / or investments, then get the insurance.
If you have nothing of value (including a job that doesn't pay you much), then don't.
I refer you to Huffman's post: Is $100 (more or less) a good deal if it's not needed?
If nurses "feel better" having malpractice insurance, buy it. But realize it's simply a form of therapy.
Remind yourself: nurses just don't get sued very often. Oh, it happens on a very, very rare basis, but the reason it's "so reasonable" (as we are reminded all the time) is simply because it doesn't happen. Statistically speaking, it's not going to happen to you. Ever. Even if you are unfortunate enough to have bought malpractice insurance.
Attorneys get paid (in almost every such case) a percentage (usually 35-40%) of the final settlement. No attorney in her right mind is going to come after a nurse who doesn't have malpractice insurance because it simply isn't worth it. Why bother? The attorney isn't doing this as a cause: she's hoping to make some money from it.
Such trials often require months or tedious, expensive preparation. Then there's the trial itself, complete with the attorney having to shell out money for expert witnesses, and other such fees. Don't make yourself inviting to such attorneys. Malpractice insurance is an open invitation.
As for the fear of garnishing of future wages, let's put this in perspective. Let's say you have a minimal net worth. You're telling me an attorney is going to salivate at the prospect of a judge ordering a garnishment of -- say -- $100 a week -- against your wages for the rest of your life to pay off the -- let's pick a number: $500,000? -- settlement we're hypothetically talking about? What are the chances you as a nurse will sit still for this? What are the odds you will simply declare bankruptcy, and go on with your life? The attorney is no fool. There are other fish to fry.
Jim Huffman, RN __________________
This gentleman knows what he is talking about.
Isn't it odd that nurses ask for and receive advise from experienced nurses regarding medical issues, but won't listen to any learned advise regarding other issues?
Isn't is also odd that, with all of the threads regarding malpractice insurance, no one has come forward and said "An attorney took my house, my car, and my 401k?"
This is because.... IT DOESN"T HAPPEN.
With all of the years of experience from thousands of nurses at this site, NO ONE has lost their home...
But, some have been included in suits involving their malpractice insurance.
Again,
I am angered by a system that exploits fear.
Save yourself time, stress, and money. Just say No to malpractice insurance.
Mschrisco
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