As with most forms of insurance, if you have malpractice or attorney liability insurance, you hope that you never have to use it. However, you still want to make sure that you are safe and protected. Claims against attorneys happen and often when they do, the costs are high. Here is what you should consider when deciding if you need insurance.
Frivolous Claims Happen
One reason that lawyers choose not to invest in malpractice insurance is that they hold themselves to a high standard and don’t believe anyone will file a suit against them. Even if they’re right and there’s never a good reason for it, it doesn’t mean that it won’t happen. Frivolous suits happen all the time. Clients make claims against lawyers where there were no mistakes. Unfortunately, you still have to pay money to fight against these claims.
Errors Can Happen
Some claims filed against attorneys are due to the errors made by clerks or some other office staff. This happens. It shouldn’t make or break your practice if it does, however. Some attorneys fear that they are inviting lawsuits by having insurance but instead you are really just protecting your practice.
Attorney liability insurance is not something that you want to skip out on having. If you own a small practice, you particularly want to make sure that you are covered.