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Need liability insurance. - adkmt

Posted: Jan 18, 2012

I'm have a part time IC job that is mine if I want it, but I need liability insurance. I'm having trouble finding a company around me that offers it for a single person. I'm waiting for some calls back, but wondered if anyone has some suggestions. This is only going to be a part time second job for me right now, so I don't want to pay a fortune. The woman who does the job now, but wants to cut back on work, has her's through State Farm for $26, but they don't offer it where I am. I would be okay with paying around that rate.

$26 a month? sounds like general liabilty which is not correct - Happy MT Robin

[ In Reply To ..]
Search the archives for E&O liability insurance and there are a lot of threads that pertain to this.

(Forgive me if you know this): General liability is that liability that you can get from State Farm, Allstate, etc., that you get for your house, etc., and provides protection for you if someone falls and injures themselves on your property.

Errors & Omissions insurance, aka E&O aka professional liability, is speciality insurance which is very specifically NOT sold by State Farm or Allstate, etc., and provides you, the professional, coverage in case you have an error or an omission in your work product that causes harm to your client. There has been a lot of discussion about whether you as an IC should have this type of insurance. If you are working for an MTSO as an IC, I very strongly believe that no, you should not. If you are truly an independent contractor and working/contracting directly for the doctor, then the argument could be made that yes, you do need it. Research also needs to be made into whether or not E&O insurance covers technical issues such as computer security. It's been a long time since I've seen an E&O policy, so I'm not sure what the latest trends are on that.

I think you can also get E&O insurance through AHDI if you are a member for a pretty reasonable price, but if you go through them you need to make sure that the policy you are purchasing is not a "shared" policy where the coverage limits are spread among you and the other purchasers of the same policy.

Liability insurance. - adkmt

[ In Reply To ..]
I have a blank contract from the hospital and it says, "_____ shall procure and maintain comprehensive general liability insurance covering itself and its employees providing services pursuant to the Agreement on an occurrence basis in the minimum of One Million Dollars per occurrence and Three Million Dollars annual aggregate of all claims" The other MT sent me a copy of her policy and it covers her "business personal property for $5500, business liablity for $2,000,000, medical payments for $5000, general aggregate for $4,000,000, and products completed operations aggregate for $4,000,000, for $250 dollars for the year. This is what she provided to the hospital and they accepted it, so I assume that is what I need also.

If that's all they're asking for, go for it - Happy MT Robin

[ In Reply To ..]
It sounds like a pretty boiler plate general liablity policy that they require fron any of their contractors. It is very specifically NOT an errors and omissions policy.

It's worth it for the $250 a year to get the job since it's a deductible expense.

Liability Insurance - Justme

[ In Reply To ..]
I used to work as an IC and went through this same issue. In the state where I live (GA), I could not find any company that would provide this to me at a reasonable rate. I called the company I have my homeowner's with and they said it would have to be a rider on my homeowner's policy, I would have to fill out an inordinate amount of paperwork about my "company", and it was quoted as over $1000 a year. Hope you have an easier time. I now work for a company as an employee.

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