Malpractice Insurance

[313RN, BSN, RN]

I just earned my license this week and am in the process of finding a job.

I think my school prepared me well to become a grad nurse, but the one thing I don't recall hearing about is malpractice insurance.

By way of background, I'm in Michigan, 39, male, own my own home and have a wife and young child. I am unemployed and not yet a specialist, so my area of practive could still be anywhere (at least theorhetically).

The question is ought I carry my own malpractice insurance? Do you?

[elkpark]

I carry my own insurance and would never work a day without it. There are a bunch of existing threads here on the topic, with lots of discussion of the pros and supposed cons, that you could review if you want to read what others think. My father was a physician and advised me while I was in school to always carry my own coverage and never depend on an employer to protect me, and everything I've seen in the 25 years I've been practicing has just convinced me further of what good advice that was!

The two companies most often mentioned that specialize in professional liability (malpractice) insurance for nurses are NSO (http://www.nso.com) and Marsh (http://www.proliability.com). The annual premium depends primarily on what state you practice in. There are people here, also, who have mentioned that they get coverage as a rider on their homeowner's insurance, but I don't know how that works -- I've always been more comfortable dealing with a company that specializes in covering nurses.

You will hear a lot of nurses say that they don't need insurance because there's little chance they'll ever get sued. That is, statistically, true. However, the standard nursing liability policy covers much more than just getting sued for malpractice. Typically, it also covers you (pays for legal representation) if you are called before the BON to defend your license, and if you're called to testify or give a deposition in a malpractice case against someone else (oh, say, a physician ...), either of which is much more likely to happen to you over the course of a career than getting sued, yourself, and, in both cases, you would definitely want an attorney representing you -- and, if you had to pay for an attorney out of pocket in those situations, the first hour of the attorney's time would cost quite a bit more than the usual annual premium for the insurance. My policy even covers my lost wages for missed days of work if appearing before the BON or testifying in court.

Also, the coverage you supposedly have through your employer only covers you while you are at work for them. Your own coverage covers you 24 hours a day, anywhere you go, so you are covered if you choose to participate in any volunteer activities, through your church or community organization, or even if you provide care or give advice to a friend or neighbor (as long as you're not functioning outside your legal scope of practice). And there are lots of other good reasons not to depend on your employer's blanket coverage ...

I consider it the best $100 (roughly) I spend each year.