Average Cost of Malpractice Insurance for Physicians

Cost of Malpractice Insurance for Physicians

Malpractice insurance is a form of professional liability insurance. It is designed for medical and healthcare professionals, such as physicians, doctors and surgeons.

The malpractice liability insurance policy defends healthcare professionals from lawsuits filed by patients against them.

This insurance policy specifically covers lawsuit expenses filed for professional negligence or intentionally harmful medical treatment.

This insurance policy also covers the death of a patient under the care of the policyholder.

According to various reports, medical negligence is the third highest leading cause of death in the US.

Hence, it is more likely that, as a certified and practicing physician, you will need medical malpractice insurance.

Average Cost of Malpractice Insurance for Physicians 2022

What is the importance of Malpractice Insurance?

The majority of physicians will need to buy medical malpractice insurance. A survey was done by John Hopkins University. It showed that medical errors were the leading cause of death in the US, just after cancer and heart disease.

What is the importance of Malpractice Insurance

What is the importance of Malpractice Insurance?

Medical negligence can occur during the diagnosis stage or treatment. It can even happen when advising patients about treatment too. Reports show that medical errors cause around 250,000 deaths in the US every year.

More than 17,000 malpractice lawsuits are filed against doctors every year in the US. Studies also show that an average US doctor can expect a medical negligence lawsuit against them every 7 years.

Apart from these reasons, the biggest reason to buy malpractice insurance is that it is mandated by states. If you wish to practice medicine as a healthcare professional in hospitals or clinics, you will need to get malpractice insurance coverage.

The premium for this insurance policy mainly depends on your location and specialty. Other factors include laws in the area, claims frequency, claims severity and the amount of coverage required.

These points highlight the importance of buying malpractice insurance for physicians.

Are there different types of Malpractice Insurance for Physicians?

There are several options to choose from when deciding to buy malpractice insurance for physicians.

A basic medical malpractice insurance policy can be bought from private insurance companies. You can also seek to contact the nearest Risk Retention Group (RRG).

These groups have made it easier to buy the best-suited malpractice insurance for doctors in the United States. Apart from this, you can also buy medical malpractice insurance coverage through your employers, such as hospitals and clinics.

If you work as a healthcare provider in a government-run facility, then you will not need to buy medical malpractice insurance.

Medical professionals in government healthcare facilities are covered against malpractice claims by the federal government. However, if needed, you can buy insurance from local and state agencies.

There are mainly two different types of malpractice insurance for physicians:

Claims made policy – Claims-made insurance policy cover claims only if the policy was in effect during the disputed treatment and the lawsuit was filed.

Occurrence policy – The occurrence insurance policy covers claims that were made for treatment that happened while the policy was effective, despite the policy being expired.

Medical malpractice insurance policies offer to cover numerous types of costs. These include legal fees, such as lawyer’s fees, arbitration and settlement costs, punitive damages, and medical damages.

What is the Average Cost of Medical Malpractice Insurance for Physicians in the US?

There are several different factors involved in deciding the specific cost of medical malpractice insurance policies. Hence, it is not possible to pinpoint a specific cost of malpractice insurance for physicians.

However, on average, medical malpractice insurance coverage would cost around US$ 7,500 per year.

Most surgeons in the US end up paying between US$ 4,000 to US$ 12,000 per year as insurance premiums. The exact cost of this insurance policy depends on the area of expertise, specialty and state.

On average, malpractice insurance cover costs around 3.2% of the average physician’s annual income.


Medical malpractice insurance coverage is a must for every certified physician, doctor, specialist and surgeon practicing in the United States.

This is an excellent way to prevent incurring monetary loss and loss of reputation. To find the best-suited medical malpractice insurance for physicians, we advise you to connect with the local RRG now.

See Also

Hobbies for Surgeons

Non Clinical Jobs for Physicians

Surgeon Salary

Average Pay for Doctors

Physicians for Social Responsibility

How to Improve Private Medical Practice

Working in  Private Practice vs Hospital

Benefits of Mobile Clinics

How to Improve Patient Comfort




Follow us