Physical Therapy Malpractice Insurance

If you work as physical therapist, medical malpractice coverage insures you against claims of negligence or of making a mistake that caused bodily harm to another. This includes providing you with a lawyer to defend yourself and the funds you can use to pay judgments or settlements.

AMOUNT COVERED:
Typical limits of liability range from $500,000 per claim/$1 million aggregate to $2 million per claim/$6 million aggregate

If a claim is filed against you, we’ll retain a lawyer for you from our network of defense attorneys specializing in medical malpractice. We’ll also pay for related defense costs (e.g., lawyer fees, court fees, expert witness costs).

Note that these defense costs are outside the limits of your insurance. This means that their services don’t cut into the settlement fees you may need to pay after a ruling.

AMOUNT COVERED:
Provided in addition to your policy’s limits of insurance

We work with your defense attorney to reach the best possible outcome for you. We won’t settle a claim without your approval.

Your policy applies on a worldwide basis, as long as a claim is brought against you in the United States (which includes any U.S. territories or possessions).

If you provide professional care to someone who is not your patient in a first aid or emergency situation, and that person files a claim against you, your policy would still apply.

If a claim alleges that you violated privacy rules in connection with private health information, we provide you with access to counsel and will reimburse you for costs related to HIPAA proceedings — including relevant HIPAA fines.

AMOUNT COVERED:
$25,000 per policy period

If the professional licensing authority is investigating matters related to your professional conduct, our policy provides you with legal defense.

AMOUNT COVERED:
$25,000 limit per policy period

If we ask you to attend litigation activities (e.g., a deposition), our policy will reimburse you for actual lost wages and any necessary expenses you incur (e.g., travel, meals).

AMOUNT COVERED:
Up to $1,000 per day

If you face a threat to your professional reputation, we can provide you with a crisis management/public relations consultant to help clear your name.

AMOUNT COVERED:
$50,000 per claim

The policy applies if someone files a claim against you alleging that your premises or operations caused them bodily injury or harm.

AMOUNT COVERED:
$1 million occurrence/$1 million aggregate

If you’re audited by either Medicare or Medicaid, we offer reimbursement for related accountant or attorney costs that result from the investigation or defense of the audit proceedings.

AMOUNT COVERED:
$30,000 for a covered audit and related expenses

The cost of your physical therapy malpractice insurance can depend on a number of variables, including your location, how many years you’ve been working as a PT, your claims history, and more. Typically, PT malpractice policies with limits of liability of $1 million per claim and $3 million total start at an average of $451 for a primary insurance policy and $158 for a supplemental policy.

The best way to get an idea of what your policy would cost is by getting a quote. With Berxi, you can get a quote, purchase your policy, and get covered in minutes.

Malpractice insurance is a type of professional liability insurance. Professional liability insurance for physical therapists starts at about $158 per year for a supplemental policy and about $451 per year for a primary policy. The actual cost depends on a number of factors, including — but not limited to — how much coverage you want, where you practice, and your experience, education, and time spent on the job. The best way to figure out how much you might pay for your policy is to get a quick online quote.

You can buy through a broker or agent, but the easiest way for physical therapists to buy a malpractice policy is directly from a provider – which also has the added benefit of cutting out broker fees and saving you money. With Berxi’s easy-to-use online platform, you can get a quote and buy your policy online in just a few clicks.

Most states will require PTs to have a malpractice policy if they have their own practice, work as a contractor, or run a PT concierge business. This is because no matter how diligent you are, there is always the risk that you could be sued for allegedly causing a patient injury. Even if the claim doesn’t have merit, it could still cost time and money to defend yourself against it – and taking on these expenses without the protection of a malpractice insurance policy could be enough to put you out of business.

That’s why malpractice insurance (also known as professional liability insurance) is essential for physical therapists. In the event of a malpractice lawsuit, your insurance can help cover legal fees and settlement costs, as well as other expenses. In addition, many states and employers require PTs to carry malpractice insurance.

Even if you’re covered by your employer’s insurance policy, you can still benefit from having your own insurance (also known as “supplemental” coverage). This supplemental policy can give you a larger pool of money to pay for legal representation and settlement costs, while also giving you more control over your own defense – we won’t settle a claim without your consent. Plus, there are a number of instances in which your employer’s policy might not cover you, such as HIPAA violations, licensing board complaints, and more.

No two policies are the same, and physical therapy malpractice insurance coverage can vary from one policy to the next. However, most policies can help cover costs for your legal defense, such as attorney fees and court costs; arbitration expenses, including paid experts for your defense; and settlements costs for which you’re found liable.

In addition, Berxi’s comprehensive PT malpractice policies offer additional coverage to help protect you, your career, and your financial wellbeing. Berxi PT malpractice policies include:

• Licensing board protection defense
• HIPAA violation defense
• Wage loss and deposition expenses
• Reputation coverage
• Consent to settle (meaning we don’t settle a claim with your approval)

Physical therapists should have medical malpractice insurance, which is a type of professional liability insurance. If you operate your own business, you may also want to look into general liability insurance, which can protect you against claims of non-medical bodily injury, such as someone slipping in your office, and claims that you accidentally damaged someone else’s property.