Lawyers Professional Liability Insurance

Welcome to our site devoted to information on lawyers' professional liability insurance (or LPL insurance). This page will briefly discuss professional liability insurance for lawyers, why you should consider it, and what factors you should consider when selecting an insurance provider. We will also provide you with links to a few Internet sites that may aid you in selecting the best coverage plans.

The purpose of attorney's professional liability insurance is to protect lawyers and law firms from liabilities caused by negligence, errors, or omissions. In today's society in which lawsuits abound, it is indeed ironic that those same claims come back to strike those engaged in the legal profession. The obvious solution: legal professional liability insurance-insurance to protect lawyers.

Like with car insurance providers, there are two kinds of professional liability insurers. There are the carriers who are selective with the people they insure yet provide cheap insurance premiums, and there are others who insure everyone and charge you an arm and a leg for it. The key is to find the carrier that will accept your liabilities for the lowest possible premium.

Still, as you well know, you get what you pay for. Not all coverage plans are equal. There are many factors you need to consider:

•  What is your area of practice? If you are in a "high risk practice" your rates will be significantly higher.

•  Where is your practice located? In some areas of the country liability insurance the losses are greater, so premiums are higher.

•  How much insurance do you need? What are your assets, and what do you need to protect your clients?

•  Is a limited liability plan that only covers damage enough, or do you need to cover defense as well?

For more information on factors to consider when reviewing insurance carriers, see this tips download from the American Bar Association website

The American Bar Association also provides an excellent comprehensive directory of top LPL insurance carriers in each state. You simply click on your state, and the ABA gives you a listing of professional liability insurance providers. Best of all, when you click on a carrier, you are then sent to another ABA site which provides an outlined review of the company's policies, limitations, and coverage plans.

InsurePro is another excellent resource when considering professional liability insurance. There you will find a list of LPL insurance providers, but you will also find a "coverage coach" so that you can register quotes that will fit your specific needs. Be careful though. As we mentioned earlier, insurepro won't give quotes to everyone, so be sure to note the areas they will not cover.

Finally, we encourage you to consider American Agent & Broker. There they provide a clear clarification of LBL insurance, and they provide a list of providers with coverage reviews and rates right in the text. The information is concise and accessible, and the list of providers is significant.