New Grad with Liability Insurance Question

TheCommuter, BSN, RN · Jun 2, 2007

I presume you are in Alabama. Since Liability Insurance is cheap in your state, you can obtain a $1 million policy for about $100 per year with NSO. Also, NSO offers new grads a discount.

http://www.nso.com

I would purchase my own policy, because the hospital can find a way to dissociate itself from you if a lawsuit occurs, leaving you with the legal bills.

VegRN · Jun 2, 2007

I completely agree with the above poster. I also have Liability Insurance with NSO and it is about 100$ a year. I believe the new grad discount is 50%.

I personally feel it is well worth the cost.

loricatus · Jun 2, 2007

There will be a great deal of policy and procedures to follow in your new job. If a malpractice suit were to be filed and you happened to be one of the many caregivers for that patient, you stand to chance being named in that suit. Even if you did not have anything to do with the incident that led to the lawsuit, it is possible for the hospital to turn on you (make you a responsible party) if you did not document that you followed any one of a number of their policies and/or procedures to the letter, related to that patient's care. The hospital may say that they cover you; but, that is until they can make you a scapegoat. The first, and I feel the most important, aspect about being able to have an independent attorney represent you, if you were named in a suit, is that you can immediately petition to be released as a named party if you were not directly involved in the incident-this dosen't always happen if it is the hospital attorney that represents you. Additionally, having your own insurance, covers you for out-of-hospital liability issues.

anonymurse · Jun 2, 2007

I began my NSO coverage as a student. I'll leep it as long as I have my license.

TazziRN, RN · Jun 2, 2007

I have had an NSO policy since I was a new grad also, 19 years ago. The facility you are attached to at the time you are involved in a case, if any, will assist you to a point, but they will cut the branch off behind you first chance they get if it would benefit the facility. You need to have your own policy to protect yourself.

Editorial Team / Admin · Jun 2, 2007

hello, ohmygosh. 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 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? :uhoh3:

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.