Doctors Insurance Rates
How Much Is Business Insurance for Doctors?

Whether you run a small or solo medical practice, doctors insurance protects you from some of the most costly lawsuits a business owner could face. Lawsuits are so expensive that most doctors simply don't have the financial resources to pay out of pocket. Given how much harder it has become for small practices to compete with large groups, it's important to protect your business's finances and make sure that a single lawsuit won't be enough to put you out of business.

To give you an idea of what doctor's insurance cost, we've compiled these insurance cost estimates based on the typical cost for small or solo medical practices.

Note: Sample insurance quotes only represent typical costs. Actual premiums may vary.

HOW MUCH IS
General Liability Insurance?

What Does General Liability Insurance Cost?

General Liability Insurance covers a doctor's third-party lawsuits over slip-and-fall injuries, property damage, and reputational injuries. If you damage a patient's property during a house call, a patient slips on your waiting room floor, or another doctor sues you for speaking badly about his work, General Liability Insurance can cover the cost of the lawsuit. GL coverage pays for lawyers' fees, court costs, out-of-court settlements, and judgments requiring you to pay damages to a third party.

The average rate for a General Liability Insurance policy for doctors with a $2M policy limit and a $1M per-claim limit is $453.30, with a median rate of $429.00 A medical General Liability policy typically costs $425 to $750.

To see how the cost of doctor's General Liability Insurance compares with other industries, visit Insureon's 2014 Business Insurance Cost Analysis New browser window icon..

Average Premium Rates on General Liability Insurance Policies for Doctors
Name USD

Per claim limit:

$1,000,000

Policy Limit:

$2,000,000

Mean policy premium:

$453.30

Median policy premium:

$429.00

HOW MUCH IS
a BOP?

What Does a Business Owner's Policy Cost?

You're a doctor, but you're also a small-business owner, which means you're looking for ways to reduce the cost of business insurance. A Business Owner's Policy does just that. BOPs bundle General Liability and Property Insurance at a reduced cost. This policy is only available for small practices, so make sure you take advantage of its discount. BOPs will range in price because Property Insurance premiums vary according to the amount and type of medical equipment you need to insure.

The average rate for a doctor's Business Owner's Policy in which the General Liability component has a $2M policy limit and a $1M per-claim limit is $901.62, with a median rate of $630.48. A Business Owner's Policy for doctors typically costs $475 to $3,500.

Average Premium Rates on Business Owner's Policies for Doctors
Name USD

Per claim limit:

$1,000,000

Policy Limit:

$2,000,000

Mean policy premium:

$901.62

Median policy premium:

$630.48

HOW MUCH IS
Workers' Comp?

How Much Does Workers' Compensation Cost?

As an employer, doctors will often need to have Workers' Compensation Insurance (also called Workers' Comp or Workman's Comp) to cover nurses, support staff, and other doctors working at their practice. Each state's laws set different requirements for Workers' Comp (check your state workers' comp laws), but most businesses will need some amount of WC Insurance. When an employee is injured on the job, Workman's Comp can pay her medical cost and can also reimburse her for lost wages. Back injuries, falls, latex allergies, and other injuries and illnesses may be covered.

The average rate for a physician's Workers' Compensation Insurance policy with a $1M accident limit, a $1M disease limit, and a $1M employee limit is $1,268.08, with a median rate of $803.00. Workers' Compensation Insurance for doctors ranges from $200 to $8,850 in annual premiums.

Average Premium Rates on Workers' Compensation Insurance for Doctors
Name USD

Accident limit:

$1,000,000

Disease limit:

$1,000,000

Employee limit:

$1,000,000

Mean policy premium:

$1,268.08

Median policy premium:

$803.00

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Free Quotes on Doctor Insurance

The sample quotes above should give you an idea of what you'll pay for doctors insurance. If you're looking to get coverage, submit an online insurance application and receive free quotes on insurance designed to cover small and solo practices.

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