Legal Malpractice
Looking for Legal/Attorney Malpractice Insurance in California?
You’ve come to the right place. Pacific Lighthouse Insurance Agency is at your service.
Legal/Attorney Malpractice Insurance is Professional Liability Insurance, specifically for lawyers and law firms. Legal/Attorney Malpractice Insurance is also known as Legal Errors & Omissions Coverage.
Why do you need Legal/Attorney Malpractice Insurance?
Law Firms and Lawyers/Attorneys are the professionals who need to be properly insured.
You never know if or when a client you’ve worked so hard for, may become a disgruntled client. In many cases, a disgruntled client may sue you for legal malpractice, even if they have baseless allegations. If that happens, you could be faced with an unreasonable amount of time required to defend yourself. In addition, the cost could be incredibly excessive.
Lawyers and law firms should consider getting a legal malpractice insurance policy, to protect against that risk. Pacific Lighthouse Insurance Agency is your premier attorney malpractice insurance agency in California.
Legal Malpractice Insurance Policies Provide Specific Benefits.
Professional Liability Insurance triggers in a few different situations:
- You are protected against professional negligence claims
- Your staff and associates are also protected
- Helps build client confidence in you and your practice
- The cost of having independent legal counsel represent you in an ethical complaint might be covered
- Could help you fulfill your professional and ethical obligations
- Gives you the peace of mind to focus on your clients and other facets of your practice
When Should You Consider Evaluating Your New or Existing Legal Malpractice Insurance Policy?
- You’re a New Lawyer
- You’re a Solo Practitioner
- You Have a Small Firm
- You Practice in a High-Risk Area of Law
- You’ve Had a Legal Malpractice Policy for at Least 3 Years, Without Any Claims
If you’re a new lawyer and a solo practitioner with a small firm, Legal Malpractice Insurance would kick in, in the event one of your clients attempted to sue you as a result of a mistake. Having an Attorney Malpractice policy in place would give you the peace of mind for just in case….
In a recent study conducted by the ABA on legal malpractice claims filed against attorneys, they found that there are five practice areas that had the most claims. Those practice areas are bankruptcy, collection, family law, estate, trusts and probate, plaintiff’s personal injury and real estate. Practicing if those areas tends to place a larger target on you and your practice.
In most cases, once you’ve had your Legal Malpractice Insurance policy in place, it just automatically renews each year, because you are focused on protecting your clients. What most attorneys and law firms don’t realize is that when you are a new lawyer, the insurance carriers consider the risk to be higher. With higher risk, insurance premiums are higher.
As a general practice, the insurance carriers will issue increases each year, even if there aren’t any claims. If you would like to find out how to lower your Legal/Attorney Malpractice Insurance premium, contact Albert Durazo. He knows exactly which carriers offer lower premiums if you haven’t had a claim in the last three years.
What To Do Next
If you’d like a personalized Legal/Attorney Malpractice Insurance evaluation for you and your business, Albert Durazo at Pacific Lighthouse Insurance Agency is here to guide you. Call our office today at (657) 667-0225 or email Albert at albert@pacificlighthouseins.com. You can also start your quote online in a matter of seconds.