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Do you have your own malpractice insurance?

NP   (1,153 Views | 6 Replies)
by tgod288 tgod288 (New) New

243 Profile Views; 5 Posts

Hi everyone. I am in my second year as a licensed APRN. When I started my first job out of school, the company provided malpractice insurance to me under their policy, but I went ahead and got my own to be safe. At my new job, it is a small company and I share limits with my supervising physican on his policy and still have my own policy, but I am thinking of canceling mine. 

Do you have your own policy or just rely on employer provided malpractice insurance? 

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traumaRUs has 27 years experience as a MSN, APRN, CNS and specializes in Nephrology, Cardiology, ER, ICU.

165 Articles; 21,045 Posts; 194,014 Profile Views

From my hard-earned experience:

1. I've had my own malpractice insurance since 1992 when I became an LPN

2. I've been an APRN since 2006 and if you are sued and ANY amount of money is paid out, most times your practice will cover you unless it is an egregious error or involved criminal activity. However, with your own policy you do have ability to talk to a lawyer who only has YOUR interest in mind.

3. Once the payout is made, the liability of your practice/facility/company ends. But....guess what? This is all reported to your local BON. Sooner or later you get a certified letter in the mail asking for your presence to explain yourself. Going before the board without legal representation is folly in itself. This is where your private policy comes into play - it protects YOU. 

So, yes I've always kept my own policy and from my experience it pays for itself

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emsguy has 10 years experience as a MSN, APRN, NP and specializes in Urgent Care, Occupational, Travel Medicine.

16 Posts; 1,531 Profile Views

Yes, I have maintained my own policy since RN times and would recommend you do the same as tramaRUs states. It's not that expensive about $1k a year depending on NP board certification and practice.

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aerorunner80 has 8 years experience as a ADN, BSN, MSN, APRN and specializes in MSN, FNP-BC.

585 Posts; 13,873 Profile Views

I have my own policy as well.

 

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5 Posts; 243 Profile Views

On 10/2/2019 at 7:11 PM, emsguy said:

Yes, I have maintained my own policy since RN times and would recommend you do the same as tramaRUs states. It's not that expensive about $1k a year depending on NP board certification and practice.

Living in Florida, it is much more expensive. Would you pay $4k a year for the same coverage?

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traumaRUs has 27 years experience as a MSN, APRN, CNS and specializes in Nephrology, Cardiology, ER, ICU.

165 Articles; 21,045 Posts; 194,014 Profile Views

I pay $2k in Illinois and yes I would pay $4k for the peace of mind. 

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1 Follower; 1,742 Posts; 15,626 Profile Views

I have had my own malpractice since I was a BSN student. I would never be without it. One of my BSN instructors was an RN/JD who represented plenty of nurses. She told us that if the circumstances are right, an employer will throw an employee under the bus. And then you're stuck -- the lawyer works for the employer, not you.

Just my opinion, of course.

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