Whether you are a lawyer, doctor, dentist, accounting, or some other professional, you probably want to protect your financial assets. If that’s true, you need to have comprehensive Michigan malpractice insurance policy. Without sufficient coverage, you are putting your livelihood at risk. Here are three reasons every professional should have malpractice insurance.
Regardless of how careful you are in your professional practice, you will occasionally make mistakes. If those mistakes cause your clients harm, you might be financially liable for their injuries. Errors and omissions coverage can help protect you, as it offers protection for things you do wrong or forget to do altogether.
Litigation Is Expensive
If you are the target of a lawsuit, you can expect to pay an incredible amount of money to defend it. Even worse, fighting a lawsuit can bring your professional practice to a virtual standstill. This is true whether you are responsible for the injury or are ultimately exonerated. A comprehensive professional malpractice policy can insulate you from a lawsuit.
Peace of Mind Is Valuable
Effective professionals can focus on building their practice without worrying about liability legal actions. That’s worth something.
If you are a professional, you should have Michigan malpractice insurance to protect your practice from lawsuits.