Lawyer and Law Firm Insurance: Quotes From $45/mo

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People run to CPAs and financial consulting firms to solve money-problems. Legal problems, on the other hand, rests on the shoulders of lawyers and law firms. 

Lawyers and law firms help people solve immigration issues. Some provide private investigation services. Lawyers and law firms can also help with regarding real estate investment disputes. 

As a law firm business, you know how expensive legal cases and court costs can be. This is why you should not cut corners on your law firm insurance. This article will examine several coverages of law firm insurance. It will also review the top companies. 

General Liability Insurance for Lawyers and Law Firms

CoverWallet  NEXT (Best) Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $500,000/$1,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $1,000,000
Aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $1,000,000 $1,000,000
$1,000,000
Tenant’s legal liability coverage limit  $100,000 $100,000 $5,000 $100,000 $100,000
Waiver of subrogation included? Yes No Included Can be included No
Hired/non-owned auto liability coverage included? Yes No Excluded Can be included No
Equipment breakdown floater included? No  Yes Yes Can be included Yes
Can you get a certificate of insurance online? Yes Yes Yes Yes Yes
Name additional insureds? Yes Yes Yes Yes Yes
Deductible $0 $0 $0 $0 $0


General liability insurance for law firms will cover your third-party liabilities like bodily injury, property damage, and personal injury claims.


Coverage Limits of General Liability Insurance for Lawyers and Law Firms

Your law firm liability insurance typically has a coverage limit of $1 million per occurrence and $2 million in aggregate.


Add-Ons to General Liability Insurance for Lawyers and Law Firms

  • Excess liability–Extends the coverage of your law firm’s general liability policy when the coverage limit runs out

  • Tools and equipment insurance–Protects your law firm’s equipment that you use to research cases and help clients

Professional Liability  Insurance for Lawyers and Law Firms

CoverWallet  NEXT  Thimble (Best) Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $1,000,000 $1,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $2,000,000 $2,000,000
Name additional insureds? Yes Yes Yes Yes Yes
Waiver of subrogation included? Yes No Yes Yes No
License defense coverage included? No No No No Can be included


Lawyers professional liability insurance protects your law firm and lawyers from mistakes and oversights they make in their practice. Another name for law firm professional liability insurance is law firm malpractice insurance. This policy can go by other names like professional indemnity and e&o insurance.


Situations You Can Use This Insurance

Your law firm professional indemnity insurance can cover situations similar to the following:

  • You fail to render promised legal services to a client who sues your law firm

  • One of the lawyers at your firm missed a court deadline that caused a client undue distress in their case

  • A client accused your law firm of giving a poor performance in court

Coverage Limits of Professional Liability Insurance for Lawyers and Law Firms

Your lawyers professional liability insurance coverage will often start around $1 million per occurrence but can be higher depending on how much coverage your law firm needs.


Add-Ons to Professional Liability Insurance for Lawyers and Law Firms

Your attorney errors and omissions insurance can be customized further by add-ons or endorsements. Examples include:

  • Extended reporting–Law office malpractice insurance with extended reporting coverage lets you cover previous incidents that may have happened before your policy became active

  • Additional insured–Malpractice insurance for contract attorneys has an additional insured add-on. This add-on lets you cover other parties not named on your policy

What Are Qualities I Should Look for In Good Law Firm Professional Liability Insurance?

The best attorney malpractice insurance will offer adequate coverage without an excess cost. You will want to pick a policy that offers excellent value for what you pay. Your professional liability policy is also good if you’re paying cheap premiums but enjoy low deductibles. 

Professional liability insurance for law firms offers advantages like protecting your brand identity, coverage tailored to your firm’s unique risks, and specialized protections for solo attorneys. You will also want to look into the insurer you are buying from. Sources like AM Best, Fitch, and the Better Business Bureau can give you a snapshot of the financial reliability of an insurer and how well they handle claims.


Directors and Officers Liability Insurance for Lawyers and Law Firms 

D&O insurance for law firms protects directors and officers from claims that may result from the actions of their duties. It can protect your law firm against shareholders or third parties that allege your law firm directors of embezzlement, negligent hiring, fraud, and other related offenses. 


Coverage Limits of Directors and Officers Liability Insurance for Lawyers and Law Firms 

Directors and officers liability insurance offers a $1 million-$10 million per occurrence and aggregate limit. Higher coverage amounts are available, depending on your choice of insurance company. 

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Commercial Property Insurance for Lawyers and Law Firms  

CoverWallet NEXT (Best) Thimble Hiscox The Hartford
Building coverage limit (minimum) $50,000 $25,000 $25,000/$500,000 $25,000 $60,000
Contents coverage limit (minimum) $50,000 $25,000 $25,000/$500,000 $15,000 $60,000
Outdoor signs Excluded $2,500 Excluded Included Excluded
Accounts receivable  Excluded Excluded $5,000/$10,000 Included Excluded
Money and securities Excluded $2,500 $1,000 Included Excluded
Lock and keys  Excluded $2,500 Excluded Included Excluded
Business interruption floater Excluded Included Included Included Excluded
Equipment breakdown floater Excluded Included Excluded Included Excluded
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Excluded Excluded


Law office insurance must have a policy to protect your business property from damage. Commercial property insurance is a good fit for this need. It covers the business building you and your lawyers work in and any personal business property when it gets damaged or stolen.


Coverage Limits of Commercial Property Insurance for Lawyers and Law Firms

This type of law firm insurance coverage will offer your office $25,000-$60,000 for building repair or reconstruction costs. 


Add-Ons to Commercial Property Insurance for Lawyers and Law Firms

  • Business interruption–This policy will help you supplement lost business income from incidents where property damage affects your business operations

  • Outdoor property–Protects property outside your business premises, like outdoor signs you use to advertise your business

Does Commercial Property Insurance Cover All Physical Risks?

Commercial property will exclude damage caused by earthquakes, terrorism, and floods. 




Business Owner’s Policy for Lawyers and Law Firms  

CoverWallet NEXT (Best) Hiscox Thimble  The Hartford
General liability aggregate limit  $2,000,000 $500,000/$2,000,000 $300,000/$2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000
Commercial property coverage limit  $50,000 $25,000 $25,000 $25,000/$500,000 $75,000
Optional policies can be added? Yes Yes Yes Yes Yes
Name additional insureds for free? Yes Yes Yes Yes Yes
BOP discount? Yes Yes Yes Yes Yes


You can purchase a business owner’s policy. This business insurance for lawyers combines the insurance coverage of general liability insurance and commercial property insurance. It also often includes business interruption insurance and allows you to customize it further with other policies.


Coverage Limits of Business Owner’s Policy for Lawyers and Law Firms

This type of lawyer insurance coverage will offer $1 million or more for general liability insurance and between $20,000 and $50,000 for commercial property insurance.


Add-Ons to Business Owner’s Policy for Lawyers and Law Firms

  • Hired and non-owned auto–Protects vehicles your law firm doesn’t own, like employee vehicles and leased vehicles, from costs that occur due to accidents

  • Cyber liability–This policy will protect your law firm from costs associated with cyber-attacks and data breaches, including lawsuits

Does Business Owner’s Policy Cover Employee Injuries?

Although a business owner’s policy allows you to combine several types of insurance coverage, it typically excludes employee injuries. You must purchase a workers’ compensation policy to protect your workers from injuries and illness.


Tools and Equipment Insurance for Lawyers and Law Firms

NEXT (Best) Thimble Hiscox The Hartford
Aggregate limit $3,000/$10,000 $2,500/$5,000 $15,000/$25,000 $5,000-$10,000
Covers hired and borrowed equipment? $3,000/$10,000 $2,500/$5,000 No Yes
Miscellaneous equipment also covered? $5,000/$10,000 No Yes Yes
Offered as an endorsement to general liability insurance? Yes Yes Yes Yes
Deductible $500 $500 $0 $0


Tools and equipment insurance protects any tools you use in your law practice, even when you bring them to other locations besides your law office. Your equipment gains protection from theft and damage, so you can get it replaced or repaired easier.


Coverage Limits of Tools and Equipment Insurance for Lawyers and Law Firms

Tools and equipment insurance typically covers business equipment with between $5,000 and $20,000 in coverage.


Add-Ons to Tools and Equipment Insurance for Lawyers and Law Firms

  • Business interruption–Helps your business recover after your tools and equipment get damaged by supplementing lost income and helping you meet any loan obligations

  • Equipment breakdown–Protects your tools and equipment when subject to internal damage like mechanical breakdowns and electronic power surges

Commercial Auto Insurance for Lawyers and Law Firms 

Lawyers auto insurance will cover vehicles that you use in your practice. Commercial auto insurance protects your business vehicle’s damage in business-related activities. You also get protection for liabilities and legal costs that result from activities your business vehicles are a part of. Commercial auto insurance has default coverages which usually include:

  • Auto-liability–Covers the cost of accidents your law firm’s commercial vehicle caused

  • Comprehensive–Offers payouts for physical damage to your vehicle that result from sources other than road collisions

  • Collision–Covers your work vehicles when they get into collision accidents on the roadways with other vehicles

Coverage Limits of Commercial Auto Insurance for Lawyers and Law Firms

Your commercial auto insurance policy will have a coverage limit between $100,000 and $1 million for liability claims.


Add-Ons to Commercial Auto Insurance for Lawyers and Law Firms

  • Medical payments–This policy will protect passengers and drivers in your vehicles by helping pay for medical payments resulting from accidents

  • Roadside assistance–Pays for the costs associated with vehicle breakdowns, like towing expenses

Are Motorcycles Included in Commercial Auto Insurance?

No. Insurers will often exclude motorcycle coverage for commercial auto policies since they are riskier than other vehicles. According to the National Highway Traffic Safety Administration, motorcyclists are 24 times more likely to die in a vehicle crash and four times more likely to be injured.


Workers’ Compensation Insurance for Lawyers and Law Firms  

Workers’ compensation insurance protects your law firm employees when they sustain injuries or develop an illness while on the job. This policy will pay benefits to employees to compensate them for lost income from injuries and medical costs they must endure.


Does Workers’ Compensation Insurance Cover Employee Deaths?

Yes, workers’ compensation covers employee deaths as well as employee injuries. Workers comp will pay death benefits to beneficiaries of the employee who died from a work-related incident. The policy will also help pay funeral expenses.


Are There Penalties for Employees Who Continue to Work Even When Collecting Workers Comp Benefits?

Yes. If an employee is injured and cannot perform any work but is caught working, your employee can face serious consequences. This would qualify as workers’ compensation fraud, and you may be ordered to pay back all the benefits you have collected and serve time in jail.


Cyber Liability Insurance for Lawyers and Law Firms

Cyber liability insurance for lawyers protects your law firm from the consequences of a data breach or cyber attack. These attacks can compromise client data, requiring you to spend money to defend yourself from possible lawsuits and repair your law firm’s reputation.


Coverage Limits of Cyber Liability Insurance for Lawyers and Law Firms

Cyber liability insurance for law firms will often have a coverage limit of $1 million per occurrence and $1 million in aggregate. Higher coverage may be available depending on your law firm’s size.


What Data is Covered by Cyber Security Insurance?

Cyber security insurance for law firms will typically cover several classes of data. Typically, these policies will cover personally identifiable information, including phone and social security numbers. Other information that can be compromised is payment card information, research information, and data storage.

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Lawyer and Law Firm Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $45 $540 $0-$500
Professional liability insurance $70 $840 $1,000-$2,000
Cyber liability insurance $76 $912 $1,000-$2,000
Commercial property insurance $60 $720 $1,000-$2,000
Business owner’s policy $100 $1,200 $1,500
Tools and equipment insurance $50 $600 $500-$1,000
Commercial auto insurance $53 $636 $500-$1,000
Workers compensation insurance $84 $1,008 $2,500-$5,000


General liability insurance is $45 per month or $540 per year for a $1 million general liability policy. On the other hand, the average professional liability insurance cost for attorneys at law firms is $70 per month or $840 per year. Factors that affect premiums are claims history, business history, policy limits, deductibles, number of employees, annual revenues, and location. Here’s a table showing the cost of a $1 million general liability insurance from the best companies:

 

Cost per Month Cost per Year Best for
NEXT $26 $312 Best overall; Fastest general liability insurance for lawyers or law firms
CoverWallet $30 $360 Comparing law firm and lawyer insurance quotes online
The Hartford $27 $324 Workers compensation insurance for law firms
Tivly $34 $408 Comparing lawyer and law firm insurance quotes over the phone
Thimble $36 $432 Flexible law firm coverage periods
Hiscox $40 $480 Business insurance with worldwide coverage for lawyers and law firms


Solo Attorney Malpractice Insurance Cost

Solo attorney malpractice insurance cost is $500 in annual premiums for an attorney with no prior acts. However, for an adequate policy with reasonable coverage limits, solo attorney malpractice insurance typically ranges between $2,500 and $3,500 in annual premiums.

Compare Cheap Lawyer and Law Firm Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Lawyer and Law Firm Insurance Companies

Consider working with these companies. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability policy. 


NEXT Lawyer and Law Firm Insurance

Pros 

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for lawyers and law firms

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons 

  • Couldn’t find any

NEXT is a highly-rated insurer that offers customized policies that you need. The company has an A- rating with AM Best which speaks to their reliable company financials. NEXT also has a B+ rating from the Better Business Bureau for its ability to resolve customer complaints. You will find a dedicated page to legal services insurance with many of the policies your law firm might need.

Best for: Best overall; Fastest general liability insurance for lawyers or law firms 

Average cost: $26 per month

Our rating: 10/10


The Hartford Lawyer and Law Firm Insurance

Pros 

  • Has local agents in the US

  • Customers report claim tracking experience is superb

  • File your policy completely online

Cons 

  • Limited add-ons to general liability insurance

The Hartford has customized policies for lawyers and legal firms that help defend you in court for a change. This company has underwriting experience stretching over 200 years and offers excellent negligence protection with professional liability insurance. The Hartford scored an A- from AM Best and an A+ from the Better Business Bureau.

Best for: Workers compensation insurance for law firms 

Average cost: $27 per month

Our rating: 10/10 


CoverWallet Lawyer and Law Firm Insurance

Pros 

  • Offers commercial packages to customers

  • Compare quotes online 

  • Shop policies from big names like Hiscox, Markel, and Progressive

  • The digital dashboard handles all your policy information from one easy menu

Cons 

  • Relies on its partners for insurance policies

CoverWallet offers a digital insurance platform to compare different insurance policies on. You can select from excellent policy options like business owner’s policy, general liability, and workers’ compensation. Their attorney professional liability insurance has a dedicated section that helps you understand what you are paying for. Coverwallet offers a way to speak with consultants to help you narrow down your options. 

Best for: Comparing law firm and lawyer insurance quotes online 

Average cost: $30 per month

Our rating: 10/10 


Tivly Lawyer and Law Firm Insurance

Pros 

  • Tivly helps you find quotes from multiple insurers

  • Over 200 insurance partners to choose from

  • Quick to connect you to insurers

Cons 

  • You can’t reach customer service by calling 

Tivly has over 200 insurers on its insurance platform to choose from. Don’t fret; Tivly also offers a service to help match you with the right policies and insurers based on your needs. Tivly has options like general liability, cyber liability, commercial property, and more from their insurance partners. The company has over 20 years of insurance experience. Call now to compare quotes over the phone. 

Best for: Comparing lawyer and law firm insurance quotes over the phone 

Average cost: $34 per month

Our rating: 10/10 


Thimble Lawyer and Law Firm Insurance

Pros 

  • Scale your insurance policies with your growing business

  • Setup short-term law insurance policies quickly

  • Customers highly rate Thimble’s convenient insurance app

Cons 

  • You can’t reach customer service by calling 

Thimble offers an excellent selection of policies for your law firm, like general liability, business equipment protection, cyber liability, commercial property, and business owner’s policy. The policies they offer are also scalable with your business as it grows. Thimble has a Better Business Bureau score of A+.

Best for: Flexible law firm coverage periods

Average cost: $36 per month

Our rating: 10/10 

Hiscox Lawyer and Law Firm Insurance

Pros 

  • 14-day money-back guarantee

  • Numerous add-ons to base policies

  • Worldwide coverage as long as the claim is filed in the US or Canada

Cons 

  • Doesn’t offer coverage in Alaska

Hiscox is a trusted insurer that specializes in tailoring policies for smaller businesses. They have dedicated agents with a unique understanding of how to figure out the best insurance plan that matches your business requirements. Hiscox offers policies like cyber insurance, workers’ compensation, business owner’s policy, and more that can protect your law firm. Hiscox has an A rating from AM Best.

Best for: Business insurance with worldwide coverage for lawyers and law firms 

Average cost: $40 per month

Our rating: 10/10

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