Insurance?

TheCommuter, BSN, RN · Aug 5, 2008

here's this gem from one of the site's administrators:

congratulations on passing nclex. good to read of your desire to protect your hard-earned license.
to answer your questions:
1. is the liability/malpractice insurance your hospital/facility provides enough coverage?
no, it is not. read below.
2. would you suggest purchasing your own policy as well?
definitely. i am a strong advocate for this.
3. where would i find a legitimate company to provide said insurance?
go to http://www.nso.com for a free quote. in alabama, the rates for rn are $98/year. i've used nso for years.

per nso, you can qualify for a discounted first year rate:

your graduation date must be within 12 months of your requested effective date in order to be eligible for the first year graduate discount.
4. how much is enough?
i advise $1,000,000/$6,000,000
5. how expensive is it?
see above
6. since i am very new at this is there any other questions or info i would need concerning this topic?
see below
all malpractice insurance policies have limits of liability. other defendants employed at your entity may and probably do share your liability limits under the same policy. if you, as well as others, are named in a suit, your legal costs, including any settlement, could exceed your employer's shared liability limits. this would mean out-of-pocket expense(s) for you.

LJ85, ADN, BSN, CNA, LPN · Aug 5, 2008

thank you very much for this insight!

vivibonita · Aug 6, 2008

Nice work quoting TheCommuter :) ...

Please get insurance as soon as you can. It is another way to CYA, my LTC is not good about offering us insurance, the one that I got was $45 a year (in CA). It isn't that expensive and it is worth it.

CT Pixie, BSN, RN · Aug 6, 2008

I got mine (1,000,000/6,000,000) for $49 for a years coverage through NSO.

The company you work for has insurance to cover their butts, and they will hang you out to dry in a second!

I was urged by my nursing instructors to get insurance ASAP for the reason stated above and because I own my home and have a rental property and my hubby and I have a small business. I worked too hard and too long for some sue-happy person to take me for all I am worth and then some.

I would suggest you get some insurance ASAP, you can never CYA too much. And honestly, the premium charged is minimal for the coverage you get. I wish my car insurance was so cheap :chuckle

TheCommuter, BSN, RN · Aug 6, 2008

And honestly, the premium charged is minimal for the coverage you get.

I agree. The yearly premium for professional Liability Insurance is cheaper than the first hour of consulting with a lawyer. It is better to be safe than sorry.