Long hours and a heavy workload mean that even the best nurses can make mistakes. Business insurance covers costly malpractice lawsuits if a patient sues over a medication error or a fall while being lifted. It also covers work injuries, accidental damage to a patient's belongings, and stolen equipment.
These insurance products cover common risks faced by registered nurses.
This type of nurse liability insurance covers attorney's fees and other expenses related to professional negligence, such as failure to monitor a patient. It’s also called professional liability coverage.
Most states require workers' comp for businesses that have employees. It also protects RNs who work independently from work-related medical bills that health insurance might deny.
A business owner's policy, or BOP, is a cost-effective way for registered nurses to buy commercial property insurance and general liability coverage together.
A general liability policy covers legal defense costs from third-party accidents, such as an elderly patient who slips and suffers an injury. It's often required for a commercial lease.
This policy helps practicing nurses 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.
Most states require commercial auto insurance for vehicles owned by an RN's business. It helps cover the cost of accidents involving your business vehicle.
It's easy to get RN malpractice insurance and other policies if you have your business information on hand. Our application will ask for basic facts about your practice, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right insurance plan for nurses, caregivers, and other healthcare providers, whether you work independently or hire employees.
Malpractice claims can cost a fortune, which is why this coverage is such an important part of risk management for RNs. Whether There are several reasons why you might need malpractice insurance:
Fortunately, it's possible to save money on malpractice insurance costs. Insureon's easy online application lets you compare quotes to find the best possible rate. Whether you are an RN or RNFA, you can customize coverage options to match your specific needs and your budget.
It's important to maintain continuous coverage with this type of RN insurance, as a gap could leave you paying for a lawsuit out of pocket. You may want to set a retroactive date for coverage, which provides protection for work done in the past up to a specific date.
In general, lapses in insurance coverage can lead to an increase in your premium, as insurers may charge more for stopping and restarting coverage.
Medical malpractice insurance can cover a wide range of risks, including:
Consult a licensed insurance agent to find out about any exclusions or to add other types of coverage to your policy.