Understanding the basics of nursing malpractice insurance and what it covers is essential to protect your professional license. With greater responsibility comes greater risk.
This blog post will help explain several critical points about nursing malpractice insurance that no nurse should ever be without.
Read on for more helpful information on how nursing malpractice insurance works and why it’s essential.
Table of Contents
1. You Will Pay A Small Fee For Your Peace Of Mind
Nursing malpractice insurance offers you peace of mind by protecting your license and providing you with legal defense in case of a lawsuit. This insurance will keep counsel for you, allowing you to focus on your work and daily life with the assurance that you are safe. While there may be a fee associated with obtaining this coverage, the protection it offers may be worth the cost.
2. You Will Protect Your Assets & License
As a nurse, you are responsible for the care of others, and it is essential to protect your assets and nursing license. This can be especially relevant if someone takes legal action against you. Nursing malpractice insurance can help safeguard your assets, such as your home and car, and will also provide coverage for your nursing license if you need to defend it. Consider obtaining nursing malpractice insurance to protect these valuable assets and ensure that you are covered in the event of a legal dispute.
3. You Will Be Able To Cover Legal Fees & Lost Wages
If you are identified in a lawsuit as a nurse, you may be required to stop working until the lawsuit is resolved. This means you may not receive a salary during this time, and your bills will continue to be due. In this situation, having nursing malpractice insurance can be extremely helpful, as it will cover your legal fees and lost wages. This type of insurance, also known as professional liability coverage, is integral to your nursing career and can provide financial protection in times of need.
4. You Will Be Covered For Your Students If You Work In Academia
Suppose you work in academia and have students participating in a practicum experience in a hospital setting. In that case, you may wonder if you will be held responsible if one of your students makes a mistake. The good news is that carrying your nursing malpractice insurance can protect you in these situations. Many insurance plans allow you to add additional coverage specifically for this purpose, giving you peace of mind and a sense of security.
5. You Will Have The Ultimate Protection With Nurse Malpractice Insurance
Lastly, nursing malpractice insurance protects if a nurse is sued for an error in a healthcare setting. While it may be believed that hospitals provide insurance for their employees in these situations, this is only sometimes the case.
If an investigation determines that the nurse did not follow the hospital’s policies and procedures, they may not be covered by the hospital’s insurance. Having your nursing malpractice insurance ensures that you have coverage for any potential legal issues that may arise.
Invest In Nursing Malpractice Insurance
Nursing malpractice insurance is a must for any nurse, whether you work in a hospital, clinic, or private practice. It’s essential to understand the different types of coverage and how they work so that you can be fully protected in the event of a lawsuit. By researching and understanding your options, you can ensure that you have the right level of protection for your needs. Thanks for reading.
