Malpractice Insurance, Cheap

Mainstreet Financial Services [www.mainst-fin.com] also has very competitive rates for new solos and small firms. Their rates start low and move up, so expect them to climb at a regular rate over the first several years of practice. It does help the cash-flow during the early stages of practice. They offer policies to attorneys in the following states:
Arizona
Colorado
Georgia
Iowa
Illinois
Indiana
Kansas
Kentucky
Massachusetts
Maryland
Michigan
Minnesota
Ohio
Pennsylvania
Tennessee
Washington
Wisconsin
North Carolina
A new solo in Colorado could expect to pay in the $500 – $600 per year range for a 100/300 policy.
I have been very pleased with their friendly and professional service.

Can anyone out there give a ballpark for 100/300 coverage for solo w/ 2 yrs. exp in CT and NY?

I wanted to add Prolegia/MLM(http://www.mlmins.com/) as a good provider for attorneys in states/practice areas where it is difficult to find insurance!

I can’t believe it, my co-worker just bought a car for $80170. Isn’t that crazy!

Standard Furniture – Search Results

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I realize this article is pretty old, but since it still comes up in searches (it came up in mine), I do want to caution lawyers about taking the cheapest possible policy. Just like a health insurance policy or a homeowners policy, the first question you need to ask is whether or not it provides adequate coverage. Only then do you look at the price. If a health insurance policy only covered, say, communicable disease, but not traumatic injury, the price is pretty much irrelevant!

Every lawyer in solo practice should have a chat with his or her broker every year and make sure of two things:

1) that the attorney has adequate coverage. This can change from year to year as an attorney takes on different types of cases, cases with a higher monetary value or simply has more personal assets she wants to protect. A broker can help with this, but it’s also up to the attorney to decide what level of insurance makes allows her to sleep well at night.

2) that she’s getting the best price for that coverage. That’s primarily the broker’s job to shop it around and your broker should do this for you annually.

The reason this is important is that there is no one insurer that is always cheapest. Depending on your coverage needs, one insurer might be cheaper than another for Lawyer A, but more expensive for Lawyer B and that can change from year to year as insurers decide to move out of certain markets. A good broker will have a decent idea of which insurers will best fit a given attorney,but even the best broker can’t know for sure until a quote comes back. That’s why it the policy needs to be shopped around at least every few years.