Business Insurance for Attorneys
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Commercial Insurance for Lawyers

As a lawyer, you make your living in court, so you know better than most how expensive and draining lawsuits can be. You also probably know why business insurance is a necessary safeguard when you're embroiled in a premises liability, malpractice, or occupational injury dispute.

But if you need a refresher, here are some insurance policies that lawyers often rely on to protect their firms.

General Liability Insurance

General Liability Insurance is usually the first policy small-business owners buy, and that includes lawyers who own their own firms. This insurance can cover third-party claims that you're responsible for:

  • Bodily injuries.
  • Damaged property.
  • Copyright or trademark infringement.
  • Libel or slander.

For example, if a visitor slips on your icy sidewalk, your practice could be held liable for their medical bills and more. If you're like most small law firms, you may not be able to pay for a costly settlement or judgment out of pocket. Without insurance, you might be forced to take out loans, cut staff, or even file for bankruptcy because of the financial ramifications of an unexpected accident.

Fortunately, for the incidents listed above, General Liability Insurance can help pay for:

  • Lawyer / paralegal bills.
  • Court costs for witnesses, evidence, etc.
  • Judgments.
  • Settlements.

No doubt you'd rather be practicing law than having it practiced on you. That's why it's handy that General Liability Insurance can pay for settlements to keep your case from going to court. That way, you can focus on getting back to business as usual.

Professional Liability Insurance

Professional Liability Insurance (also known as Errors and Omissions Insurance or Malpractice Insurance in the legal field) cover your legal expenses if a client claims your law firm…

  • Made errors or mistakes.
  • Failed to deliver the service agreed upon.
  • Delivered incomplete or unsatisfactory work.

For example, let's say you're a tax lawyer and make a mistake that ends up costing you client thousands of dollars. If they sue, your Malpractice Insurance can pay to defend your firm in court. It can also pay for settlements or judgments against your business.

Worth noting: At this time, Insureon doesn't sell Malpractice Insurance for lawyers.

Workers' Compensation Insurance

Almost every state requires employers to purchase Workers' Compensation Insurance (also known as Workers' Comp or Workman's Comp). That means your law firm probably needs this coverage if you employ paralegals, partners, associates, or administrative staff.

Workers' Comp can help cover expenses when employees are hurt on the job. For example, if an administrative assistant develops carpal tunnel from all that typing, Workers' Comp may pay for:

  • Medical costs.
  • Partial wages while they recover.
  • Your legal defense and expenses if you're sued over the work injury or illness.

Employees can be injured at any workplace – even in the relative safety of an office setting. Workers' Comp gives both employees and employers peace of mind that workplace accidents can be addressed swiftly.