Chiropractic Malpractice Insurance

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Safeguarding Your Future with a Chiropractic Malpractice Insurance

Are you wondering what Chiropractic Malpractice Insurance is about and why you are advised to have it?

Perhaps, you just finished Chiropractic school and are looking into starting your very own Chiropractic career. You have a lot of dreams. You want to get married and start a family. You want to buy a house and a new car. You want to put up a clinic and have a dedicated staff for the hundreds of patients that you expect to have.

You want to make it big!

You want to be the most reputable Chiropractor in your area. You then make an action plan that would assist you in fulfilling each of these dreams. Then you take action. Finally, you get what you want.

InsuranceLet me ask you, would you risk anything in case of an untoward emergency or event that could happen?

Would you start thinking about it on the last minute, just when a tsunami of problems is ready to attack and wipe out all that you’ve worked for?

Of course not!

That’s the reason why it’s highly important to have life insurance for you and each member of the family, a car insurance and a house/home insurance in case of emergencies like accidents and fire, health insurance for your clinic staff so you won’t have to shell out money every time they need medical assistance, and a business insurance policy to cushion your fall in case something happens to your commercial venture.

But how do you go about protecting your own practice from dissatisfied clients or patients that could potentially sue you for malpractice, which could taint your pristine reputation? You’ve got to admit that this is a possibility, no matter how careful you are in attending to your patients. And yes, this is where a Chiropractic Malpractice Insurance comes in.

What is a Chiropractic Malpractice Insurance?

Chiropractic Malpractice insurance is purchased by chiropractors, to financially assist them in the occurrence that they are prosecuted for malpractice. Malpractice is defined as an act of causing injury or damage to a person as a result of negligence while on professional duty. It could be intentional or unintentional. It is often mandatory for chiropractors to avail of malpractice insurance, before opening a private practice or before getting hired in a facility.

Chiropractor Malpractice insurance is specifically designed to provide chiropractors protection and assistance from lawsuits, but there are also other personal features provided with most insurance companies and policies. Chiropractor malpractice insurance is able to cover the insured individual up to millions of dollars. Rates and necessary coverage can differ from state to state, as different laws govern different areas.

Chiropractic Malpractice Insurance

Chiropractic Malpractice Insurance Coverage

Leading providers of malpractice insurance for chiropractors provide policies that generally cover the following:

  • True Consent to Settle
  • Assistance of defense attorneys experienced in malpractice lawsuits
  • Payment of all malpractice legal fees
  • Dedicated hotline for claimants
  • Dual license coverage
  • Occurrence and claims-made plans

Chiropractic Malpractice Insurance Rates

Malpractice insurance policies are often considered as the most expensive type of insurance. But fortunately, since Chiropractors do not perform invasive procedures like surgeries and do not prescribe medicines, the risks for injury under treatment is significantly lesser. Because of this, it is more affordable to avail of chiropractic malpractice insurance as compared to a medical doctor’s malpractice insurance. In 2007, chiropractors paid $1700 per year in malpractice insurance while on average, doctors paid approximately $20,000 per year.

Chiropractic Malpractice Insurance Companies

There are a lot of reputable chiropractic malpractice insurance companies that are currently operating in the United States of America. But not all of the companies operate in all 50 states and the US territories.

Chiropractor EconomicsYou will have to check as to which one offers the best coverage in your area. Some of the recognized Chiropractic insurance companies that provide these policies for chiropractors are:

  • NCMIC
  • Chiro-Secure
  • OUM Chiropractor Program
  • Chiropractic Benefit Services
  • Princeton Insurance Company

Chiropractic Malpractice Insurance Quote

There are a lot of companies who provide malpractice insurance for chiropractors. If you are looking into getting one, the best thing to aid you in your search is to avail of a free chiropractic malpractice insurance quote. Most companies provide quotes for free and you can transact over the internet for this. You may also go to the nearest branch or office in your area.

Tips on Choosing the Right Chiropractor Malpractice Insurance Provider

Choosing the right chiropractor insurance is a very important task that should be carefully done. Although it seems like it you only have to do a quick comparison of insurance coverage offerings from the various companies, but a lot of work is actually needed. You need to do your research if you want to get the best fit for your needs.

Malpractice insurance, which is also called errors and omissions coverage or professional liability coverage, is an insurance type that aims to assist in the costs associated with negligence claims or any other incident considered to be a breach of professional conduct while on duty.

In order to get the right  Chiropractic insurance coverage and insurance provider for your practice, you must check which companies specialize and provide this type of policy in your area. You should also check for competitive prices and offers and you must also check consumer satisfaction reviews and surveys.  Once you have a list of your best prospects that offer a chiropractic malpractice insurance that is accessible to you, check on each of them in terms of background and reputation.

Ask fellow chiropractors for referrals or opinions on particular companies. They might have advice and experience that is worth hearing out. Ask among customers with how these companies deal with people; in this way, you can check the ethical practices of your prospect.

A major point in choosing is their speed in taking action when a claim is made. A company may offer a nice coverage package but may be very slow in responding to customers who wish to be assisted.

Cost is also a huge consideration in choosing among your options. While in general, chiropractic malpractice insurance is much more affordable than other types of malpractice insurance, you should also consider the extent of the coverage that they can offer for the price that you are willing to shell out.

Make a purchase when you come across a company with a solid reputation of integrity and excellence and which also offers the best coverage at the best price.

Indeed, your future as a chiropractor lies in the hard work and the perseverance that you put in to perfect your practice; but it’s the best chiropractic malpractice insurance that can truly safeguard the future that you’re working on.

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