Whether you are starting up a new legal practice or you have been managing your own practice for years, you will never outgrow the need for quality insurance coverage. Because your line of work is particularly risky and involves handling sensitive information on a regular basis, it is important to make sure you have attorney professional liability insurance coverage in addition to your general liability insurance coverage. Here are a few things you should know before purchasing a professional liability policy.
Not all professional liability policies are the same, but most cover some of the more common risks that you are faced with on a daily basis in your profession, including: improper advice, clerical errors, failure to advise and missed statute of limitations. If you commit any of these professional missteps either intentionally or accidentally, you will most likely deal with thousands of dollars in legal fees if a client decides to sue.
Attorney professional liability insurance coverage can protect you in all of these situations, and in any other situation where you are accused of negligence or making a mistake while taking care of your professional duties. Even the most careful and meticulous lawyers can easily end up in unfortunate legal situations, which is why professional liability insurance is essential for all attorneys. If you do not currently have professional liability insurance coverage, it is time to protect yourself and your company by purchasing a policy.