Washington, D.C. Malpractice Insurance
Table of Contents
- How to buy malpractice insurance in Washington, D.C.
- How to save money on your malpractice insurance.
- How much does medical malpractice insurance cost in Washington, D.C?
- Medical malpractice requirements in Washington, D.C.
- Best medical malpractice insurance companies in Washington, D.C.
- Why partner with Cunningham Group in Washington, D.C?
- Historic medical malpractice insurance rates in Washington, D.C – since 2000.
- History of malpractice insurance in Washington, D.C.
- Resources for Physicians.
Washington, D.C. Malpractice Insurance
The DC malpractice insurance landscape. Rates reflect the fact that the District of Columbia has failed to pass any tort reform measures, and the tough market is exacerbated by only having four admitted medical malpractice insurers. With medical specialists, like obstetricians, paying annual premiums in the neighborhood of $150,000, a number of physicians are opting to relocate their practices to nearby Maryland or Virginia, or have stopped doing high-risk procedures.
Our 2023 Physician Buyers Guide for purchasing malpractice insurance in Washington, D.C., gives you the information necessary to obtain the strongest, most financially secure policy at the best price. When shopping for coverage, you need a full view of the Washington, D.C., marketplace to find the company that best fits your situation. Choose a broker that can offer multiple quotes from all the major malpractice insurance companies in Washington, D.C.
How to buy malpractice insurance in Washington DC.
The best way to buy malpractice coverage is to work with a reputable malpractice insurance broker in Washington, D.C., who can generate multiple quotes. Your broker will walk you through the lengthy insurance application and underwriting process. Click to get medical malpractice insurance quotes from every major DC malpractice insurance company.
Typically, the malpractice insurance purchasing process goes like this:
- Submit your information for your free medical malpractice insurance quote from every major insurance company in DC.
- One of our veteran malpractice insurance agents who specializes in the Washington, D.C., market will contact you to learn more about your specific needs.
- We shop your coverage to every major insurance company in Washington, D.C.
- We present you with a number of insurance quotes and give you the information necessary to make an educated and informed decision. Don’t worry. We’re here every step of the way, helping you get the best price with the best company.
- At renewal time, we restart the process of shopping your coverage among every major carrier to keep your policy properly priced.
How to save money on your malpractice insurance.
- The easiest way to save money on your medical malpractice insurance policy is by working with a broker who has the access to generate quotes from every major insurance company, offering an accurate view of the marketplace. As one of the top brokers in Washington, D.C., we can guide you through the application and underwriting process so you’re confident you secured the best price with the right insurer for your situation.
- The most common limits in Washington, D.C., are $1 million/$3 million. Limits of liability play a major role in determining the overall cost of your policy. Some companies will offer lower limits to save you money. We don’t recommend this. We want your risks fully indemnified so you never have to pay an award out of pocket. Let us save you money by shopping your coverage rather than skimp on protection..
- Check out our 7 secrets your medical malpractice insurance agent won’t tell you page to get insider information on buying coverage in DC.
How much does medical malpractice insurance cost in Washington, D.C.?
Rates for physician malpractice insurance don’t vary much depending on where you practice within the state. Most major insurance companies classify Washington, D.C., as a single territory, which means your specialty’s base rate does not vary depending on your practice address. But you still want multiple quotes to get an accurate view of the marketplace. This is one of the many reasons it’s important to work with an insurance agency that specializes in medical malpractice insurance. Below are mature, base rates with no credits or discounts. We typically get our clients a 30-50% reduction from these rates:
District of Columbia
- Internal Medicine Average Rate $21,666
- General Surgeon Average Rate $66,551
- OB/gyn – Average Rate $117,903
The cost of your malpractice coverage can vary greatly due to a number of factors, including your claims history, the type of patient interactions you have, the insurance company you are placed with and more. Cunningham Group created this premium estimation tool by drawing from its database of thousands of physician clients. Below are five malpractice estimation premium buckets to gauge how expensive your coverage should be. The buckets are numbered 1 to 5 — with #1 being the least expensive and #5 the most costly.
Medical malpractice requirements in the District of Columbia.
Limits of Liability: The most common limits of liability in Washington, D.C., are $1 million per claim with an annual aggregate cap of $3 million.
Most hospitals require a physician carry malpractice insurance prior to granting admitting privileges. Some of the hospital systems requiring this include, but are not limited to, MedStar Washington Hospital. Providence Health System, and the Medstar Georgetown University Hospital.
Best Medical malpractice insurance companies in DC.
- Medical Protective
- The Doctors Company
Why partner with Cunningham Group?
Partnering with Cunningham Group will give you a full view of the Washington, D.C., marketplace. We can get you quotes from all the major insurance companies and help you choose the policy that best fits your needs and budget. Our veteran insurance agents average 10+ years of industry experience. Let us help you secure medical malpractice insurance quotes from every major insurance company in DC.
Historic Medical Malpractice Insurance Rates in Washington DC for Physicians.
Brief History and other important facts of medical malpractice insurance in the District of Columbia.
Tort Reform in DC
There has been no meaningful tort reform passed for Washington, D.C. The District has no caps on damages and is known for large awards. A statute allowing for physicians to make expressions of sympathy or regret for poor medical outcomes (without such statements being admissible in court) was passed in 2007.