If you are a doctor, nurse, or another health professional in Plymouth, MN, you may wonder if your umbrella insurance covers malpractice. The answer to this question is complex. While umbrella policies can provide additional coverage for liability-related losses, they do not always provide the same level of protection as a malpractice insurance policy. To get an accurate assessment of what kind of coverage you need, it’s best to speak with an experienced insurance agent at Anchor Insurance Agency LLP.
Does Umbrella Insurance Cover Malpractice?
Umbrella insurance is a type of secondary liability insurance that provides additional financial protection if your primary liability limits are exhausted. It covers losses associated with lawsuits, such as judgments awarded to plaintiffs and legal fees. Most commonly, umbrella policies cover personal injury claims and property damage claims.
Whether or not umbrella insurance covers malpractice depends on the specifics of your policy. Generally speaking, most umbrella policies will not cover losses associated with medical malpractice suits because they are considered too specialized for a basic umbrella policy to cover adequately. However, there are some umbrella policies out there that do cover medical malpractice. So it’s essential to check with your insurance agent to find out if yours does or not before making any assumptions about what your policy covers.
No matter what kind of medical professional you are—a doctor or a nurse—it’s vital that you understand your local laws regarding malpractice coverage requirements as well as any licensing requirements for practicing medicine or nursing in Plymouth, MN, protection needed for your particular line of work in case something goes wrong down the line. Anchor Insurance Agency LLP can help healthcare providers navigate these rules and regulations – so contact us today.
