Consider More Than Price With Malpractice Insurance

Consider More Than Price With Malpractice Insurance

With some purchases, you shop for the lowest price. But for others, features and overall value are important factors. This is the case with malpractice insurance.

With some purchases I make, it is all about the price. I want the lowest price because I don't perceive any significant difference in quality between the less expensive product and the counterpart with a heftier price tag.

Canned vegetables, for example ... I don’t think the generic is significantly different from the brand name. But when I shop for other items, like a car, computer or television, it is all about the features, price and the overall value. The lowest price is not always the best value.

Many people think about insurance in the same way I view canned vegetables. However, this is a product where value is the key, not price. Insurance is unlike other products we purchase because we don't ever want to use it and most people don't really understand exactly what they are buying. As a result, the lowest priced option is many times very attractive.

The problem is that not all insurance policies are created equally. It is in your best interest to read the fine print and be an educated consumer.

Malpractice insurance for example.

Most products on the chiropractic market appear similar in scope and coverage. But there are differences you should closely examine when you are looking for malpractice insurance. It’s better to do your homework now before you face a malpractice allegation. Because, once you do, it’s too late.

Learn more about what to look for in malpractice insurance today.

The information in the NCMIC Learning Center is offered solely for general information and educational purposes. It is not offered as, nor does it represent, legal or professional advice. Neither does this information constitute a guideline, practice parameter or standard of care. You should not act or rely upon this information without seeking the advice of an attorney familiar with the specific legal requirements of the state(s) in which you practice. If there is a discrepancy between the site and an insurance policy you have with NCMIC, the policy will prevail.