Lawyer's Learning Center with DHIA
DHIA exists to help our customers and prospective customers find appropriate solutions for their business insurance needs. We created this podcast to provide an audio version of our informational resources. We deliver insightful information on Professional Liability Insurance, discuss business insurance solutions, and unpack the phases of running a business.
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Lawyer's Learning Center with DHIA
How Limits and Deductibles Shape Your Liability Insurance Premium and Coverage
In this episode, we examine how policy limits and deductibles directly affect your professional liability insurance premium and the coverage you get. Several factors contribute to determining your premium, but limits and deductibles are among the most important.
It's key to recognize the relationship between these factors and your liability insurance costs, as well as how certain decisions may increase your out-of-pocket expenses.
Understanding these dynamics is crucial for making informed decisions about your lawyers' liability coverage. While it may mean paying more for adequate protection, doing so or adopting financial risk management practices helps safeguard the financial health and stability of your law practice.
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More Resources:
How to Minimize Your Lawyer’s Professional Liability Costs and Maximize Your Benefits
Claims-Made and Reported Policies 101
Price vs. Value: Making Informed Choices When Shopping for Lawyers Professional Liability Insurance
Calculating Adequate Coverage When It Comes to Limits of Liability
Key Questions to Ask When Shopping for Professional Liability Insurance
Understanding The Step Rate Factor
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