HOW MUCH DOES LEGAL MALPRACTICE INSURANCE COST?

There are many factors that go into the average cost of a policy for an attorney, so please keep in mind that these numbers can vary greatly across the country and across different types of attorneys. The average cost per attorney can start as low as $500 for an attorney with no prior acts and go as high as $6500 for an attorney practicing in a riskier area of law and/or that is seeking many years of retroactive coverage. In general, attorneys can expect to pay between $2500 - $3500 for a comprehensive policy with commonly accepted limits.

With 4-5% of practicing lawyers in the U.S. facing a legal malpractice claim during their career, you need to know what drives the true cost of lawyers' malpractice insurance. Many attorneys focus only on the price of their policy and ignore the factors that truly determine the cost of buying one.

So what impacts the cost of your policy? The short answer is "it depends," but we know that isn't helpful. Looking a little deeper into what drives the cost of your policy, here are the "Top 5 Things That Impact The Cost of Your Insurance The Most."

The True Cost of Lawyers' Professional Liability Insurance is More Than Just Money.

It's Your Time.

Filling out insurance applications can be time-consuming and confusing. Don't be held back by downloading forms or printing them out only to send them back and wait for a response. ALPS is the only legal malpractice insurance company that provides you the ability to secure your policy 100% online, so you can protect your firm with time-saving insurance designed to let you help more people.

Your time should be spent with your clients. Not on paperwork.

THE TOP 5 THINGS THAT IMPACT THE COST OF YOUR INSURANCE