When it comes to protecting and defending the public, lawyers need someone watching out for them, too. Unfortunately, giving professional advice and offering legal defense to clients comes with a host of potential risks and plenty of opportunities for costly mistakes. That’s where Florida independent insurance agents come in to save the day by getting your firm equipped with adequate lawyers malpractice insurance. But first, here’s a guide to this crucial coverage.

What Is Lawyers Malpractice Insurance?

Essentially a form of Florida professional liability insurance or errors & omissions (aka “E&O”) coverage, lawyers malpractice insurance is a policy designed to protect legal practitioners from damages caused by professional mistakes. Legal claims against attorneys can be extremely costly, both financially and in terms of damaging their reputation. With a lawyers malpractice policy, the insurance company agrees to cover ramifications stemming from bad advice or improper procedures.

It’s critical for law firms to equip their business with the right protection. Legal claims and lawsuits filed by clients can be not only embarrassing and tragic, but also expensive to the point of potential bankruptcy. Working with a Florida independent insurance agent is a great way to get your law firm set up with all the protection it needs.

What Does Lawyers Malpractice Insurance Cover in Florida?

Lawyers malpractice insurance in Florida is essentially the same as everywhere else. Due to the extremely risky nature of legal work, lawyers need a policy that addresses any unintentional harm done by them to their clients. Lawyers malpractice coverage is designed to protect attorneys against damage caused by professional negligence. Coverage takes care of legal and court fees, and potentially will pay to prevent any negative media attention as well.

This specialized form of professional liability, or E&O insurance, is meant to protect legal practitioners in the event they cause harm to their clients in ways not relating to bodily injury or property damage. A Florida independent insurance agent can help equip your law firm with the right lawyers malpractice coverage to protect your practice against costly lawsuits.

What Does Lawyers Malpractice Insurance Not Cover in Florida?

While lawyers malpractice insurance provides coverage for many potential sources of harm by attorneys in Florida, it doesn’t cover everything. While exclusions may vary by policy, there are a handful of commonly non-covered perils under lawyers malpractice insurance in Florida, including:

• Intentional harm
• Regulatory/statutory penalties
• Employee dishonesty
• Bodily injury
• Property damage

Bodily injury and property damage are covered under Florida commercial general liability (CGL) insurance, so they’re not included under professional liability, aka E&O insurance. If you’re concerned that your legal practice is lacking in any area of protection, a Florida independent insurance agent can help you get set up with all the coverage your law firm needs.

What Are the Benefits of Lawyers Malpractice Insurance in Florida?

Due to the risky nature of their work, attorneys absolutely need the right protection. There are a couple of major benefits to lawyers malpractice coverage policies offered in Florida, including:

• Protection against professional errors/negligence: As a professional offering a service to the public, there’s always potential to do unintended harm. In the event a case is filed against a lawyer claiming they’ve misrepresented their client or offered bad advice, a costly lawsuit could easily arise. Having the right coverage is crucial to help avoid huge potential fees needed to sort ugly legal matters.
• Protection against liabilities not covered under CGL insurance: Commercial general liability insurance is designed to protect businesses from legal costs relating to accidental/unintentional bodily injury/harm or property damage to their clients. Lawyers malpractice insurance extends coverage to other areas of unintentional harm, including giving bad advice or misrepresenting a client in a way that results in other forms of injury/upset or damage.

Having adequate liability coverage for your law firm is crucial. Liability claims can cost several hundred thousand dollars and have the potential to bankrupt a law firm without the proper insurance. Because of the risks involved in the nature of their work, attorneys need malpractice coverage to protect both themselves and the public. Causing unintentional harm is tragic enough to begin with, but with the right coverage, it doesn’t have to mean financial ruin.

How Much Does Lawyers Malpractice Insurance Cost in Florida?

It really depends on the size of your specific law firm, how many clients you serve, the type of services you offer, and the potential risk you have of doing professional harm to the public. Lower-end policies in Florida might cost $1,200 annually for lawyers who deal in less risky areas, while higher-end policies for attorneys specializing in high-risk areas might easily cost $10,000 or more per year. Your Florida independent insurance agent can fill in the blanks.

Why Work with a Florida Independent Insurance Agent?

In order to get the protection you need and deserve, you’ll want to work with a trusted expert. And who could be better for the job than a local agent who shares your area code? Independent insurance agents act as your own personal insurance shoppers, offering you tons more options than one-policy companies. With just one call, they’ll hook you up with multiple quotes.

Florida independent insurance agents are armed with knowledge on what coverage is needed in your area, and they’ll get you set up with just enough of it — not too little, not too much. They’ll handle all the heavy lifting so you can rest assured you’ll be set up with the right coverage at the right price.

They’re not just there at the beginning either. If disaster strikes, your Florida agent will be there to help walk you through the claims process and make sure you’re getting the benefits you're entitled to. Now that’s thinking ahead.