Liability insurance is an important aspect in the careers of professionals such as attorneys and those working in the medical industry. As a professional, your main focus and goal now is to provide the best service to your client or patient. You do the best you can, but sometimes mistakes happen.

Professional liability insurance will cover litigation costs in case of a lawsuit against you. This type of insurance is not necessarily a requirement in some states, however, it is something that should be seriously considered. Because of the nature of their profession, physicians and attorneys face a great deal of risk. Any unforseen mistake or misunderstanding between the professional and their patient or client could be devastating to their career and financial stability.

Currently, the base rates for liability insurance are set by each state. However, insurance carriers can adjust these rates according to the geographic area or specialty of each professional. For instance, the premium for a plastic surgeon practicing in San Antonio, Texas might be different than the rate for a OB/Gyn working in Albany, New York.

Here are a few tips when shopping around for insurance:

* Your first step in choosing insurance is finding a broker or agent who thoroughly understands your needs and is knowledgeable.

* Make sure the insurance provider you select has a good history of paying out claims.

* Study the policy an agent recommends and ask plenty of questions if you're unsure about what is or what is not covered. Insurance coverage can vary significantly, so make sure you know what you're getting into.

* Don't buy nsurance based solely on price. You may not be getting the right amount of coverage or inferior service if you're strictly looking for cheap insurance.

You can purchase professional liability insurance at relatively affordable rates from an insurance broker or insurance provider. Make sure to shop around to get an idea of current insurance rates and to find a policy that offers you the right amount of coverage.