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Is malpractice insurance worth it?

Posted

Has 2 years experience.

I work for a large hospital system as a floor nurse. I'm curious to know if getting insurance is a good thing to have. I have been given mixed reviews about it. Higher ups (at work) say it's not needed if you follow protocol to a t (I understand that and try to do so!). However, I've also heard that you're a target for malpractice if the other party learns that you have insurance- you're an even bigger target and on a radar. I'll take any stories/experiences you want to share.

amoLucia

Specializes in LTC.

Do you reeeeally want to trust the higher-uppers with your license, career and financial future??? Even after all you've read here on AN about their sad quick propensity to crucify nurses for even the smallest faux-pas???

And you DID comment here about their warning you about 'following P&P to the T'. THAT is a BIG RED WARNING FLAG! OP, do you seriously believe they'll have YOUR best interest in mind???

Get your own insurance so YOU, and you alone, are the sole focus of that policy. They'll represent YOU!

For about the once monthly price of one big super duper mocha fratte latte café, you've peace of mind.

You carry auto insurance, home owner's insurance and life insurance hoping you'll never need to use them. But it's there, JUST IN CASE!

Do yourself the best priced favor EVER in your career. You'll never regret it!

CharleeFoxtrot, BSN, RN

Has 10 years experience.

(around) $100/year is cheap for peace of mind and covering your own boot-ay. So, yes it is totally worth it.

Hoshio, RN

Has 3 years experience.

Always always always always have it. When it comes between saving their own ***, & throwing a single nurse under the bus, the hospital will always choose to save their own ***. And when it is you vs them, they sure as hell won’t be providing you with any protection or resources it’ll be coming straight out of your own pocket, and hiring a lawyer to defend your license is not only going to be expensive, sometimes it takes months to years for a case to be resolved. That is a lot of $$$$$& for an attorney or other consultation needed. So yes please please please get your own insurance. If you’re a new recently passed boards nurse, it is generally cheaper, but for even those who’ve had a license a long time, it really isn’t too much of an extra cost. And what’s 100$ a year compared to 50,000 for a year or more of legal fees.

Zeek, LPN

Specializes in Nephrology/Dialysis. Has 40 years experience.

Most companies have a "claims made" policy that only covers you if you still work for the company. Should you change jobs, you are no longer covered, but can still be sued. Check and see what type of malpractice insurance they carry. I always have carried my own insurance because their lawyers look out for the company not you. I would advise you to get your own insurance.

amoLucia

Specializes in LTC.

Just thinking - Y'all know how we HAVE TO HAVE auto insurance in order to drive, well, maybe we all should have malpractice insurance in order to practice with our licenses! JMHO!

Don't some SONs require its students to have malpractice insurance for their programs?

(Trivia - On TV Judge Judy, you automatically lose the case if you didn't have auto ins. Like you were driving ILLEGALY; you should have known and shouldn't have been driving. NO EXCUSES with Judge Judy!)

HiddencatBSN, BSN

Specializes in Peds ED. Has 10 years experience.

Always have it. Always. Your facility has their interests at heart and if their best interest is throwing the nurse under the bus they will.

IDK how random folks would know you have malpractice and therefore try to sue you because of that. That reason not to have insurance has never made sense to me.

NRSKarenRN, BSN, RN

Specializes in Vents, Telemetry, Home Care, Home infusion. Has 44 years experience.

Malpractice insurance is one of the most frequently asked topics at AN.

Lots of member responses:

Should I Carry NursingMalpractice (Liability)Insurance ?

https://allnurses.com/should-I-carry-nursing-malpractice-t278767/

Anyone Ever Actually Used Their malpractice insurance ?

https://allnurses.com/anyone-ever-actually-used-their-t713308/

Should I Carry My Own Malpractice Insurance ?

https://allnurses.com/should-I-carry-my-own-t675648/

Liability insurance companies

https://allnurses.com/liability-insurance-t720349/

CM+F company offers discount for AN members: https://www.cmfgroup.com/about-cm-f/cmf-partners/allnurses-members/

amoLucia

Specializes in LTC.

Malpractice insurance is just sooooooo inexpensive. I just don't get it why nurses don't obtain a policy. Certainly, it can't be for the cost - dang, I throw out more wasted fuzzy bread & fruit monthly. And esp after all the recommendations and comments here!

When we read of nurses, esp the newbies here making MAJOR errors, my mind starts thinking poss lawsuit fodder! In fact, there's currently another post right now where a newbie had an incident on her shift, and another respondent talked about suing that newbie in her facility! And that's within the membership here! Think about it - one member HERE recommending that another member HERE be sued! We live in such a litigious society (and I believe it's getting worse because of these C19 times).

If there were ever another BETTER thing with which to protect yourself, then let me know!

To NRSkaren - TY for your providing the related links that you do so well.

Edited by amoLucia

Hoshio, RN

Has 3 years experience.

1 hour ago, amoLucia said:

malpractice insurance is just sooooooo inexpensive. I just don't get it why nurses don't obtain a policy. Certainly, it can't be for the cost - dang, I throw out more wasted fuzzy bread & fruit monthly. And esp after all the recommendations and comments here!

When we read of nurses, esp the newbies here making MAJOR errors, my mind starts thinking poss lawsuit fodder! In fact, there's currently another post right now where a newbie had an incident on her shift, and another respondent talked about suing that newbie in her facility! And that's within the membership here! Think about it - one member HERE recommending that another member HERE be sued! We live in such a litigious society (and I believe it's getting worse because of these C19 times).

If there were ever another BETTER thing with which to protect yourself, then let me know!

To NRSkaren - TY for your providing the related links that you do so well.

Curious what thread you’re referencing :0. True statements though, lawsuits & taking legal action is a sport this day in age.

On 8/3/2020 at 1:14 PM, amoLucia said:

Just thinking - Y'all know how we HAVE TO HAVE auto insurance in order to drive, well, maybe we all should have malpractice insurance in order to practice with our licenses! JMHO!

Don't some SONs require its students to have malpractice insurance for their programs?

(Trivia - On TV Judge Judy, you automatically lose the case if you didn't have auto ins. Like you were driving ILLEGALY; you should have known and shouldn't have been driving. NO EXCUSES with Judge Judy!)

I like her newest hairdo but am glad this mean old woman is retiring. She is so very rude.

amoLucia

Specializes in LTC.

Not so much RUDE, but she calls it like she sees it! NO NONSENSE!

(Although sometimes, she is over-the-top!) :cheeky:

On 8/4/2020 at 12:46 PM, amoLucia said:

When we read of nurses, esp the newbies here making MAJOR errors, my mind starts thinking poss lawsuit fodder! In fact, there's currently another post right now where a newbie had an incident on her shift, and another respondent talked about suing that newbie in her facility! And that's within the membership here! Think about it - one member HERE recommending that another member HERE be sued! We live in such a litigious society (and I believe it's getting worse because of these C19 times).

Oh that thread. Yeah, that member is projecting onto the newbie member. SMH

amoLucia

Specializes in LTC.

7 minutes ago, NurseBlaq said:

Oh that thread. Yeah, that member is projecting onto the newbie member. SMH

Yes, that one. In reality, I doubt that that poster is a HC person. I asked, but no response.

amoLucia

Specializes in LTC.

22 minutes ago, DeeAngel said:

Any nurse without malpractice insurance is a financially illiterate fool.

WELL SAID!

Pixie.RN, MSN, RN

Specializes in EMS, ED, Trauma, CNE, CEN, CPEN, TCRN. Has 13 years experience.

I work from home and still carry it! Uninterrupted since graduation in 2008.

caffeinatednurse, BSN, RN

Specializes in Med-surg, telemetry, oncology, rehab, LTC, ALF. Has 5 years experience.

Mine costs a little over $100/year. I was required to have malpractice insurance for the entire duration of my BSN program. I opted to stay with the same company after graduation.

I’ve never needed it, but it is there if I do. Btw, no one will know that you have it unless you tell them. It is your own personal safety net. And the way I see it, if doctors need it (and they do) then so do we.