Need Help Picking Liability Insurance???

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Specializes in I don't have much experiance yet..

Today I had my clinical orientation and we received a form for professional liability insurnance. I know I should have asked while there, but it was one of those things that you don't think of until your home :) .

I have sent an e-mail to the nursing program coordinator with my questions.

I have to sign up for either:

$2,000,000 each incident/$4,000,000 aggregate

or

$1,000,000 each incident/$3,000,000 aggregate

Which one do I sign up for? Money is definitly a factor considering I am barely working due to clinical and all of the other expenses there are with this coming semester. I want to be sure I am covered as much as possible, but also, not spending money needlessly.

Please Help!! I am so confused!!! :o

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Liabilty insurance? YOU gotta pay for it? Wow! I didn't have to sign up for anything like that! Are you sure you have to? Can you make monthly payments? Try looking up the NSNA or ANA website, maybe they have cheaper insurance?

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Specializes in Cardiology.

Have you checked with NSO? Most nurses that I know of with use NSO: https://www.nso.com/index.php For a student with $6 million aggregrate, $1 million each incident in coverage, the annual premium is just $20. Just wanted to give you a heads up. Good luck.

...Jennifer...

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Specializes in I don't have much experiance yet..
Have you checked with NSO? Most nurses that I know of with malpractice insurance use NSO: https://www.nso.com/index.php For a student with $6 million aggregrate, $1 million each incident in coverage, the annual premium is just $20. Just wanted to give you a heads up. Good luck.

...Jennifer...

Thank you so much!! After looking into this insurance NSO looks to be the cheapest way to go with what seems to be the most coverage. Now, my problem is, how do I know if it actually is the best coverage? The insurance company my school gave us the application for is MARSH Affinity Group Services. It is $33.00 for the 1,000,000 each incident and 3,000,000 for aggragate. That leads to my next question. What is aggragate?? I have to get this in within the next 2 days. I still am lost on what to do.

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Have you checked with NSO? Most nurses that I know of with malpractice insurance use NSO: https://www.nso.com/index.php For a student with $6 million aggregrate, $1 million each incident in coverage, the annual premium is just $20. Just wanted to give you a heads up. Good luck.

...Jennifer...

This is what we all have at my school. And for future reference, always have your own insurance, even when you are a nurse and the hospital has it. It is only 89 a year for a nurse and worth every penny. We learned what can happen when I took policy and I will never be without my own insurance.

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Specializes in Infection Preventionist/ Occ Health.

If I'm not mistaken, aggregate refers to the total amount the policy will pay during the coverage period.

We were told that having your own insurance is always a good idea, because you never know when you will be named in a lawsuit along with the physician and other health care providers. Your hospital will have ITS best interests represented, and those are not always the same as YOURS.

It seems like a lot of money when you're in school, but I think that it is definitely worth it in the long run.

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Specializes in home health.
Have you checked with NSO? Most nurses that I know of with malpractice insurance use NSO: https://www.nso.com/index.php

Just try gettting it in Texas...the limits from NSO are $100,000 occurance/ $300,000 aggragate for $232/year.

another reason not to live here

yeah, I'm cranky today

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Specializes in med/surg, ortho/neuro, ambulatory surg.
Have you checked with NSO? Most nurses that I know of with malpractice insurance use NSO: https://www.nso.com/index.php For a student with $6 million aggregrate, $1 million each incident in coverage, the annual premium is just $20. Just wanted to give you a heads up. Good luck.

...Jennifer...

Our school make sus pay for this as well $17 for the year

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Specializes in Critical Care.
Have you checked with NSO? Most nurses that I know of with malpractice insurance use NSO: https://www.nso.com/index.php

Just try gettting it in Texas...the limits from NSO are $100,000 occurance/ $300,000 aggragate for $232/year.

That's what I was quoted (I live in Texas) from NSO - 232.00 for 100,000/300,000.

AACN recommends MARSH and has a deal with them. for 104.00/yr, I got a 2,000,000/4,000,000 policy that includes up to 10,000 for a lawyer to represent you at any investigation or defense of license at BON, and up to 5,000 for a lawyer to represent you at a deposition not related to a suit where you are named as a party (where you might be called as a witness and not necessarily a defendant).

http://www.proliability.com/nurse

Mind you, this is coverage for working RNs, not student coverage, which is cheaper because, theoretically, your scope of practice is much more limited and your supervision is much greatly increased.

~faith

Timothy.

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Have you checked with NSO? Most nurses that I know of with malpractice insurance use NSO: https://www.nso.com/index.php For a student with $6 million aggregrate, $1 million each incident in coverage, the annual premium is just $20. Just wanted to give you a heads up. Good luck.

...Jennifer...

This is the one we needed to get b4 starting clinicals.

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