Malpractice Insurance in Vermont
What is Malpractice Insurance?
Professionals are assumed to have expertise in an area, and they’re expected to use their knowledge and skill correctly. Should a professional make a mistake, they may be sued for any damages or harm they cause. Malpractice insurance helps protect Vermont professionals from legal fees and potential settlements associated with covered lawsuits regarding their work.
Malpractice insurance is a form of professional liability insurance. It helps provide protection against liability lawsuits arising from an error that a professional makes. When a covered accusation is made, a malpractice policy will usually cover both the legal fees and any settlement associated with the suit (up to the policy’s limits).
Who Needs Malpractice Liability Insurance?
Any professional in Vermont who would face serious consequences if they made an error in their work may want to consider getting a malpractice policy. A few kinds of professionals that might need the protection a policy can provide include:
- Doctors and other medical professionals
- Estheticians and others cosmetology professionals
- Contractors and tradespeople in the constructions industry
- Engineers (of all kinds)
- Certified public accountants and other accounting professionals
Does an Employer Provide Malpractice Coverage?
Many employers have some form of malpractice coverage, but not all employers’ policies cover their employees.
Some employers’ malpractice policies do provide coverage for employees. In these cases, employees don’t need to purchase their own policies unless they want more protection than their employer’s policy affords.
Other employers’ malpractice policies only insure the employer -- and not the employees. If an error is made, both the company and the person who made the mistake may be found liable, and the individual employee could be personally responsible. In these situations, employees are often wise to purchase their own malpractice policy.
Additionally, employees who do work outside of their official responsibilities with their employer may need their own policy. Even if their employer has a policy that provides coverage for employees, the policy likely only covers employees when they’re performing duties for the employer. Most employers’ policies don’t cover employees when they’re moonlighting at another gig.
How Can Professionals in Vermont Obtain Malpractice Liability Insurance?
Professionals throughout Vermont can obtain malpractice insurance by talking with an independent insurance agent who specializes in this kind of insurance. An agent can explain what’s usually included in a specific type of malpractice liability insurance, and they can help professionals review multiple policies to find one that provides the most appropriate level of protection.
