Why do nursing students need business insurance?
Nursing students often find themselves in positions where they are responsible for patient care, which opens them to the same liabilities faced by licensed nurses. Business insurance covers costly malpractice claims and accidents, giving you the peace of mind to focus on your training.
Find affordable policies
Nursing students can save money by comparing insurance quotes from top-rated providers with Insureon.
Gain financial protection and peace of mind knowing you have the right coverage for your profession.
What types of insurance do nursing students need?
Professional liability / medical malpractice
Malpractice insurance covers costly lawsuits related to professional negligence, such as a nursing student who fails to monitor a patient adequately.
- Medication errors
- Documentation errors
- Mistakes in medical procedures
Workers’ compensation insurance
Workers' comp protects nursing students from work-related medical bills that health insurance might deny. It's required in most states for businesses that have employees.
- Work-related medical expenses
- Disability benefits
- Employee injury lawsuits
Business owner’s policy
A business owner's policy, or BOP, is a cost-effective way for nursing students to buy commercial property insurance and general liability coverage together.
- Accidents that harm a patient
- Damage to a patient's property
- Stolen or damaged business property
General liability insurance
A general liability policy covers the cost of common third-party accidents, such as a patient who slips during a transfer to a wheelchair. It's often required for a commercial lease.
- Slip-and-fall injuries
- Accidental property damage
- Libel and other advertising injuries
Cyber insurance
This policy helps nursing students pay costs associated with data breaches and cyberattacks. It can often be added to a business owner's policy or general liability policy for savings.
- Customer notification costs
- Data breach investigations
- HIPAA data breach fines
Commercial auto insurance
This policy covers legal costs in the event of an accident involving a vehicle owned by your business. Each state has its own requirements for auto liability insurance.
- Damage caused by your vehicle
- Medical bills from an auto accident
- Vehicle theft and vandalism
How much does business insurance cost for medical professionals?
A nursing student with minimal risks can expect to pay less for insurance than a full-time medical professional.
Factors that affect premiums include:
- Healthcare services and scope of practice
- Medical equipment and property
- Location
- Types of insurance purchased
- Deductibles
- Per-occurrence and aggregate liability limits
- Claims history
How do I get nursing student liability insurance?
It's easy to get business insurance for nursing students if you have the relevant information on hand. Our application will ask for basic facts about your practice, such as your location and the type of work you do. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application.
- Compare insurance quotes and choose policies.
- Pay for your policy and download a certificate.
Insureon's licensed agents work with top-rated U.S. insurance companies to find the right coverage for nursing students, whether they are just starting out, or whether they are a registered nurse transitioning to a nurse practitioner role.
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FAQs about nursing student insurance
Review answers to frequently asked questions about liability insurance for nursing students.
Are nursing students required to carry malpractice insurance?
Nurses and nursing students rely on medical malpractice insurance, also called professional liability insurance, to cover legal defense costs in the event of a malpractice lawsuit. It’s a crucial part of risk management in healthcare, including in the field of mental health.
Beyond the high cost of a defense attorney, there are several reasons you may need to buy this coverage:
- Your nursing program may require it. In addition to health insurance, most nursing schools require you to carry professional liability coverage as well.
- Hospitals often require this coverage. Hospitals and other healthcare facilities where you train and work may require you to carry malpractice insurance coverage, even if it's not required by state law.
- Your school's coverage may be limited. Your nursing program might provide coverage that is effective only in certain situations or for smaller claims. It also might prioritize the program's protection over that of its students.
Fortunately, it's possible to find affordable nursing student malpractice insurance. Insureon's easy online application lets you compare quotes to find the best possible rate. You can customize your coverage options to match your specific needs and your budget.
What other liability insurance do nursing students need?
Malpractice insurance for student nurses can cover a wide range of claims related to patient care, including:
- Telemedicine / telehealth coverage
- HIPAA defense coverage
- License protection
- Sexual misconduct defense
- Claims related to emergency first aid
Keep in mind that malpractice insurance is usually sold as a claims-made policy instead of an occurrence-based policy. That means you'll need to maintain continuous coverage, as your policy must be active in order for you to file a claim.