Prioritizing rate? Being thrifty with your malpractice insurance could leave you exposed

# Why price alone is risky Optometrists often shop malpractice insurance primarily on premium. That's understandable, but a low rate can come with significant gaps. The more you save on premium, the greater the chance a policy omits protections you'll need when a claim arrives. The result can be unexpected out-of-pocket costs, uncovered claims, or an inability to practice without interruption.

# Concrete policy features to check Start by comparing these concrete elements across quotes.

• Limits and how they apply: Check each policy's per-claim and aggregate limits and whether defense costs are inside or outside the limits. A lower premium can mean lower effective protection once legal fees are counted.

• Claims-made versus occurrence: Claims-made policies require you to have coverage when a claim is filed and may need extended reporting (tail) if you change insurers or stop practicing. Occurrence policies cover incidents that happened while the policy was active even if the claim arrives later. Know which type you're buying.

• Exclusions and specific code lists: Some policies exclude certain services or diagnoses, including explicit ICD-10 code exclusions. Confirm whether your common clinical work is covered.

• Portability for multiple employers: If you work for more than one employer or as a locum, see whether the policy is portable or if you need a separate, portable policy.

• Cyber liability and related gaps: Cyber incidents can lead to significant costs. Check whether malpractice coverage is complemented by cyber liability policies and whether those policies cover breaches that affect clinical or billing systems.

# Questions to ask your agent or carrier When you compare carriers, ask direct, practice-specific questions rather than generalities. Useful questions include:

• Is this claims-made or occurrence coverage, and will I need tail coverage if I leave?
• Are defense costs inside the policy limits or paid separately?

• for multiple employers or in telehealth settings?

# Common claim types and why coverage nuance matters Recent guidance for optometrists lists common malpractice risks and practical issues: communication and treatment-management claims, exclusions tied to certain procedures or codes, and the administrative effects of claims even when they are frivolous. A lawsuit with little merit can still raise premiums or cause administrative disruption if your policy's claims-handling or limits are weak.

# Practical steps before you sign

1. 1Obtain a full certificate of insurance and read the actual policy wording. Certificates summarize coverage but the policy dictates protection.
2. 2Compare sample policy declarations and exclusion pages across carriers. Small differences change outcomes.
3. 3Consider bundled protections: malpractice plus cyber liability if your practice relies on digital records and billing.
4. 4If you're early in your career or changing employers, confirm timing and portability rules for coverage and whether prior-acts or tail coverage will be necessary.

# Picking value over lowest price The goal is a policy that matches your practice's clinical scope and employment situation. That often means paying more than the cheapest premium, but avoiding costly gaps if a claim occurs. Evaluate carriers on how they handle claims, what they actually cover, and whether their contract language fits how and where you practice.

# Final takeaway A competitive rate is an important input, not the deciding factor. Read policy language, ask specific questions, and align coverage choices with your daily clinical work and employment arrangements to reduce the risk of being underinsured.