Physicians need assistants. Physician assistants interpret diagnostic tests and counsel patients. The employment of physician assistants is projected to grow 29 percent by 2031, according to the Bureau of Labor Statistics.
As a physician's assistant, you must protect your business from potentially damaging lawsuits. 8 out of 10 medical malpractice lawsuits go to trial and can cost you a heavy price in time, resources, and lawyers fees. This writeup will outline one of the best ways to protect your business, physician assistant insurance. Keep reading to find out what policies you need
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $300,000/$1,000,000 | $300,000 | $100,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | No | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| 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 |
One type of physician assistant liability insurance is a general liability policy. This covers you in case of a third-party claim of property damage and bodily injury. Typical situations to use this coverage include:
A potential patient visits your office but accidentally falls and hurts themselves after you bump into them
You accidentally damage a piece of a patient's personal property that is expensive to fix
Don’t forget to look into add-ons that can enhance the types of events your physician insurance policy can get coverage for. Some general liability add-ons to get include:
Cyber liability: Protects you from claims related to cyber-attacks, loss of customer data, and other internet-related causes
Tools and equipment insurance: Protects your business tools if damaged or stolen during patient treatment and other business use
Your general liability insurance will have a $1 to $2 million coverage limit. Higher amounts are available if you customize limits of avail an excess policy.
No, general liability insurance will exclude worker injuries, business vehicle damage, property damage, and protecting any tools you use in your practice.
| 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 | $1,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
| HIPAA coverage included? | No | No | No | No | No |
| Sexual misconduct coverage included? | No | No | No | No | Can be included |
| License defense coverage included? | No | No | No | No | Can be included |
| Deductible | $500 | $500 | $500 | $50/$10,000 | $500 |
Physician assistant malpractice insurance protects you from the potentially financially devastating results of medical negligence or oversights in patient care. The best malpractice insurance for physician assistants will include a sexual harassment and abuse molestation add-on for a comprehensive coverage.
A malpractice insurance policy is sometimes called professional liability insurance for physician assistants. Still, it is essential to remember that malpractice insurance deals with losses related to the human body. Examples of coverage include:
A customer accuses you of extreme negligence in your medical care
You fail to deliver a promise to a patient about their care situation
Extended reporting period: An add-on for claims-made policies that extends the time that you have to file an insurance claim beyond the policy limits
Media liability: Adds protection against lawsuits that stem from content you publish on a website or other media platform
Your physician assistant medical malpractice insurance will offer a $300,000-$1 million per occurrence limit and a $1 million-$2 million aggregate.
Physician assistant malpractice insurance quote from insurers to be between $1,000 and $8,000 per year for a policy. The price of malpractice insurance varies widely across the medical industry based on the risk you are likely to experience.
Your physician assistant malpractice insurance cost will be affected by the type of medical treatments you assist with, the limits of your policy, and the state that your practice is in.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $22,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | 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 | Excluded | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included | Excluded |
Physician assistant insurance benefits from a policy that protects your business property. Commercial property insurance fits the bill and protects your building and related business property. Examples of coverage are listed below.
Your property is stolen while you are working at your medical office
Someone vandalizes some of the medical tools on your commercial property
Flood Insurance: Floods are often excluded by default in commercial policies. A flood insurance policy can be valuable where flood waters are familiar
Outdoor sign coverage: Protects signs you use that are located away from your business building
Commercial property insurance will have a typical coverage limit of $50,000. Coverage will vary based on your policy and the insurer.
Physician assistants will not always require commercial property insurance. Since you often work under the supervision of a senior physician, you may be included under that physician's insurance coverage.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $22,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
This policy combines the protection of commercial property insurance and general liability into one cohesive policy. It also features a business interruption insurance. Consider purchasing a BOP to enjoy multiple insurance options without investing much on premiums.
Cyber liability:Adds protection to your policy that will help you out in cases where a cyber attack or data breach causes financial damage to your physician assistant business
Commercial crime:Protects your physician assistant business against damaging actions your employees might levy against you
Umbrella insurance:This policy will extend coverage limits for multiple policies if your primary policy has run out of eligible coverage. You can get extensions of $1 million-5 million or even more
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A business owner’s policy will have a typical coverage limit of $1 million for general liability and between $20,000 and $60,000 for commercial property.
Yes, damage to your business that results from fire damage is typically included in a business owner's policy. Some other forms of natural damage, like earthquakes and floods, will often need to be added separately.
| NEXT | 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 |
You will use tools and equipment insurance to provide financial protection for the tools you use to practice medicine. Thi policy will cover repair or replacement expenses if equipment get damaged or destroyed due to fire, theft, vandalism, and other covered perils. Example coverage will include:
A medical tool is stolen while you are assisting in administering medical care
Your medical equipment gets damaged in a covered event and needs to be replaced
Flood damage: Helps pay for the cost to rent tools or equipment if it is damaged by water in a covered flood event
Equipment breakdown: Adds extra protection for events that cause damage from internal forces like power outages and mechanical failure
Your physician assistant tools and equipment insurance will have coverage between $5,000 and $20,000.
No. A tools and equipment insurance policy typically covers accidental tool damage. This rule also extends to things like improper maintenance and wear and tear.
If you have any employees, workers' compensation insurance can protect them from the costs of getting a workplace injury or illness. Workers compensation insurance can cover hospitalization, medication, rehabilitation, lost wages, and employee death benefits.
Yes. Workers injured or ill can get the costs of their necessary prescriptions covered by this policy. Your workers' comp policy should cover most prescriptions. However, there is a chance that some prescriptions are not. Be sure to check the wording of your workers' comp policy.
A workers’ comp claim’s time to process will vary depending on the insurer and area. Still, generally, it will take around 30 days. Insurers will need time to investigate the claim to ensure all the facts are reported correctly.
You can use an excess liability policy to enhance the coverage limit of one of your existing insurance policies. Say for example, you have a $1 million general liability policy and $2 million dollar claim is filed. In this case, excess liability insurance can cover the remaining $1 million claim amount and there’s no need to shoulder the cost yourself.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $45 | $540 | $0-$500 |
| Professional liability insurance | $52 | $624 | $1,000-$2,000 |
| Commercial property insurance | $63 | $756 | $1,000-$2,000 |
| Business owner's policy | $100 | $1,200 | $1,500 |
| Tools and equipment insurance | $49 | $588 | $500-$1,000 |
| Commercial auto insurance | $57 | $684 | $500-$1,000 |
| Workers compensation insurance | $82 | $984 | $2,500-$5,000 |
| Excess liability insurance | $47 | $564 | $500-$1,000 |
The average physician assistant insurance cost is $45 per month or $540 per year for a $1 million general liability policy. Several factors will influence the cost of your insurance, including the risk level of your industry, your history with insurance claims, and the number of employees you have. In connection, 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 | $25 | $300 | Best overall, Fastest general liability insurance for physician assistants |
| The Hartford | $27 | $324 | Longstanding and trusted insurance policies |
| CoverWallet | $30 | $360 | Comparing physician assistant insurance quotes online |
| Tivly | $33 | $396 | Comparing quotes from different providers over the phone |
| Hiscox | $40 | $480 | Business insurance with automatical renewal for physician assistants |
| Thimble | $36 | $432 | Getting your physician assistant coverage quickly |
| AAPA | $83 | $996 | Malpractice insurance for physician assistants |
Get all the best quotes from leading providers in a click of a button!
You might want to 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.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for physician assistants
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT is an online insurance provider that offers many insurance protection options. You can purchase general liability, workers' compensation, business owner’s policy, and more for your physician assistant business. NEXT received an A- from AM Best for its financial strength and a B+ rating from the Better Business Bureau.
Best for: Best overall, Fastest general liability insurance for physician assistants
Average cost: $25 per month
Our rating: 10/10
Longstanding, trusted insurer with 200 years of insurance experience
Offers financial services in addition to insurance
An excellent mobile app that is easy to use
Coverage is limited in some states
The Hartford has a stellar track record for providing insurance over the 200 years it has been in business. It has spent over 30 years devoted to small businesses. The company has an A- from AM Best. It offers a suite of policies that make perfect additions to a physician assistant insurance policy. The Hartford began as a fire insurance company in 1810 but has since expanded to provide other forms of coverage.
Best for: Longstanding and trusted insurance policies
Average cost: $27 per month
Our rating: 10/10
Compare quotes online for your policies
10+ top carriers
Allows you to compare options with other insurers
Not a coverage provider themselves
CoverWallet is your digital insurance wallet where you can easily track and purchase new policies. The company has insurance policies like general liability, workers comp, and malpractice insurance for medical professionals. CoverWallet offers insurance for top carriers like Hiscox, Progressive, and Chubb.
Best for: Comparing physician assistant insurance quotes online
Average cost: $30 per month
Our rating: 10/10
Matches you with your ideal insurance provider
Offers medical malpractice insurance
200+ partners to pick from
You need to talk to a Tivly representative for quotes
Tivly is a considerable insurance platform that offers a selection of over 200 providers to pick your physician assistant insurance policy. This company is a trusted platform with an A rating from the Better Business Bureau. Tivly takes the work out of insurance because of the ease of getting quotes. The company helps you narrow down your options to the perfect policy. Call a representative now to compare quotes over the phone.
Best for: Comparing quotes from different providers over the phone
Average cost: $33 per month
Our rating: 10/10
Purchase coverage for a month, hour, or even a day
Get your policy in 60 seconds
Excellent app features
Some customers report that the customer support features are limited
Thimble offers flexible insurance plans that allow you to customize the coverage period to the hour. The company is one of the most accessible companies to get coverage from quickly. Thimble boasts an A+ rating from the Better Business Bureau, making it highly trusted by its customers.
Best for: Getting your physician assistant coverage quickly
Average cost: $36 per month
Our rating: 10/10
Has over 100 years of insurance experience
Discounts when bundling multiple policies
A rating from AM Best
Some policies are limited to policyholders with fewer employees
Hiscox offers a small-business insurance experience that tailors your policies to your needs with expert knowledge from their agents. The company's policies will work great with your physician assistant insurance. You can choose from general liability, medical malpractice, workers comp, and others.
Best for: Business insurance with automatical renewal for physician assistants
Average cost: $40 per month
Our rating: 10/10
Protects healthcare workers for over 100 years
Coverage options up to $2 million per claim
Sole covers professionals in the medical field
Need to be an AAPA member
AAPA malpractice insurance offers higher-end physician assistant liability insurance with impressive coverage limits. You get general liability coverage, sexual misconduct defense, and HIPAA defense coverage. The coverage will extend to different areas like volunteer care and telehealth treatment. Their medical malpractice insurance for medical assistants also requires your full consent before it will settle a claim.
Best for: Malpractice insurance for physician assistants
Average cost: $83 per month
Our rating: 8/10
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow
Not all those who wander are lost.
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