Do Nurses Need Malpractice Insurance?

Have you had accusations against your nursing license? Malpractice insurance is a great way to stay protected on the job in cases like this. It is optional for nurses to have this extra coverage, but it provides a safety blanket for those ‘just in case’. 

Should I Choose Nursing Malpractice Insurance?

When considering malpractice insurance, it’s essential to take note of the pros and cons and potential costs associated with it. This Insurance helps protect you from liabilities in which you were the direct cause of a patient’s injury or death. Some facilities offer this coverage to their nurses while others don’t. Nurses are on their own in this instance and must seek their form of protection. 

Facilities will provide other forms of insurance for their nurses and correlated job responsibilities. For example, if you need to find a lawyer, those costs are sometimes covered, depending on location. Many healthcare professionals have access to this coverage and are not limited to those working in the hospital. 

Malpractice Insurance For Nurses: The Good and The Bad

The Good:

Out of Sight, Out of Mind: 

It lessens your worries. Nursing malpractice insurance provides legal counsel should you ever be involved in a lawsuit. Your insurance looks out for YOU and will work in your best interests. Working as an RN is hard enough. 

Personal Asset Protection:

If you have personal assets, they are under protection under malpractice insurance. Should you be involved in a court dispute, houses and cars could be at stake. Your nursing license is also under protection due to liability insurance! This added protection makes RNs more comfortable. 

Paid Leave and Lawyer fees:

Nursing malpractice insurance covers any time you have to leave work in case of a lawsuit. The insurance also covers lawyer fees should you need one. Therefore, you need not worry about bills piling up as you take time away from work. This is one of the most significant benefits of malpractice insurance and could be essential should a legal battle ensue. 

The Bad:

Costly Subscription:

A yearly fee will come from your paycheck if you consider nursing malpractice insurance for RNs. Prices for coverage range depending on location and job title; however, the average yearly cost is around $7,500, according to howmuch.net. Malpractice insurance is a pricy decision, so you should take time to think about this decision. 

Are you protected?

Many coverage plans are limited in benefits and could result in paying more and receiving little to nothing. Therefore, looking into your project is vital and ensuring you get the most out of your money. You could have to pay lingering fees and more if the insurance doesn’t cover it. 

Is It Worth It?

Ultimately opting for nursing malpractice insurance as a nurse could be essential to your profession. However, it’s important to consider all factors before making your final decision. CynaMed invites you to our RN Resources website for further assistance in your nursing career. If you are searching for your next nursing position, we’re here to help. With over 18 years of experience in the healthcare industry, we have connections to top facilities in the greater Pittsburgh area. Contact us today to apply!