Why Should I Use a Med Mal AGENCY? Top 3 Reasons
A very common question the agents at MyMedicalMalpracticeInsurance.com get is, “Why should I go through you, a med mal agency, to get my medical malpractice coverage? Wouldn’t it be better and/or cheaper if I went directly to a medical malpractice insurance company?” The question is understandable –medical malpractice coverage is a large cost for any practice. However, to get the best price and coverage available, every caregiver should consider going through a med mal agency.
Here are the top three reasons why:
1. The cost is the same (or better) when you use a med mal agency over going directly to a specific insurance company. Quite simply, a med mal agency cannot “mark-up” the cost of coverage. If anything, a med mal agent can save you money. The agents at MyMedicalMalpracticeInsurance.com work for you, the physician or caregiver, not the insurance companies. And, because the cost of med mal coverage is so high, it is important to press for discounts and competitive quotes, which our agents do for every client. Oftentimes, our agents know what these discounts are when our clients do not. Also, we can explain policy features and options to our clients, and how they can vary from company to company, giving our clients the most options available and truly an opportunity to customize their coverage. And, in some cases, we can even start a bidding war, on behalf of our clients.
Finally, as an independent agency specializing in med mal insurance, we are appointed by all of the major carriers and enjoy good standing with their underwriters. Many times, we can explain a claim history and we can press for a quick turnaround on behalf of a physician.
2. We can save you work and may be able to get you up to a dozen (or more) quotes with one application, within one business day, typically. Usually, we can send a spreadsheet with all of the available rates within an hour after a simple phone call with the client.
3. If you are denied coverage by one or more med mal insurance companies, the agents at MyMedicalMalpracticeInsurance.com will ask to have the application withdrawn to help keep your name clear. If you go directly to an insurance company, they may not necessarily withdraw the declination and it will stay on your permanent record. This can be problematic, because most med mal applications ask, “Have you ever been declined coverage for any reason?”
Our agents are your advocates. Let us put our med mal agency expertise to work for you today.