You’ve worked hard and sacrificed much to get where you are today. But, everything you’ve taken years working hard to build up can disappear before you barely have a chance to know what happened. Don’t assume that your legal expertise can get you out of any bind. Make sure you have legal malpractice insurance.
Legal malpractice insurance cost is definitely well worth the price. In fact, many professionals agree it is absolutely necessary. So, why is legal malpractice insurance so important?
The main reason to have legal malpractice insurance is to have protection from your own clients. The rate of lawsuits against lawyers has gone up over the years, making it more important than ever for lawyers to have insurance themselves. The financial damages associated with claims against you make legal malpractice insurance cost well worth the value. It’s not just your clients that are a concern, but also third party stockholders. Basic human errors like a mistake on a title search or a missing deadline can end up putting you in debt or even out of business.
Lastly, don’t assume you can’t afford insurance. Legal malpractice insurance cost is usually lower for smaller firms. Do your research before you choose an insurance company so you’re sure you find a plan that fits your unique needs. You deserve to have peace of mind after all of your hard work and diligence.