Understanding the cost of professional protection and how much is malpractice insurance per month is critical for physicians at every stage of their career. Medical malpractice insurance safeguards doctors against claims alleging negligence or errors in patient care, but it can be a significant part of a physician’s annual expenses. However, many doctors are unclear on how premiums are calculated and whether they can be paid monthly rather than yearly.

Choosing the best medical malpractice insurance requires understanding not just coverage limits but also cost structures, payment options and specialty-specific risk. 

How much is malpractice insurance per month?

The medical malpractice insurance cost varies widely depending on specialty, location, claims history and the type of coverage selected. For budgeting purposes, monthly premiums can be roughly estimated by dividing annual costs by 12, but the results are influenced heavily by specialty risk levels.

• Primary care physicians often pay $500–$1,500 per month.
• Specialists like OB-GYNs or orthopedic surgeons may pay $5,000 or more per month.
• High-risk surgeons, such as neurosurgeons, may face monthly premiums exceeding $15,000.

These monthly amounts are derived from annual policies, which may also include administrative fees or installment charges if paying monthly rather than upfront. Physicians in high-litigation states generally pay more, while states with caps on noneconomic damages often see lower premiums.

What are the two types of malpractice insurance?

Understanding malpractice insurance cost by specialty also means understanding the type of policy you are purchasing. There are two main types of medical malpractice insurance:

1. Claims-made policies cover claims made during the policy period, regardless of when the incident occurred but require ongoing coverage if you switch insurers. These are generally less expensive initially but may increase in cost over time.
2. Occurrence policies cover any claim for an incident that happened during the policy period, even if the claim is filed years later. While typically more expensive upfront, they offer long-term security and predictability.

The type of policy can significantly affect monthly payments. Physicians should weigh immediate affordability against long-term risk protection when selecting coverage.

Is malpractice insurance paid monthly or yearly?

Physicians frequently ask “how much is malpractice insurance per year” and if payment must be annual. Most malpractice policies are quoted and underwritten on an annual basis, but insurers often allow flexible payment options:

• Annual payments – One lump sum, often with a discount for upfront payment
• Quarterly payments – Four installments which also normally contain administrative fees
• Monthly payments – Spread evenly across 12 months, sometimes with financing charges

For budgeting, monthly payments can make coverage more manageable, particularly for physicians in private practice who must account for cash flow. Employed physicians may find premiums are included in their benefits package, often deducted pre-tax, which can simplify monthly cost considerations.

How much do US doctors pay for malpractice insurance?

The average cost of malpractice insurance for doctors in the United States depends largely on specialty and procedural risk:

• Primary care physicians – $7,500–$20,000 annually
• OB-GYNs – $60,000–$100,000 annually
• Orthopedic surgeons – $50,000–$120,000 annually
• Neurosurgeons – $150,000–$200,000 annually

Dividing annual amounts by 12 gives a rough estimate of monthly costs, but physicians should be aware premiums can fluctuate based on claims history, practice location and changes in coverage limits. Even within the same specialty, two doctors may pay significantly different rates depending on risk factors and policy structure.

Asking” how much is malpractice insurance per month?” is essential for physicians planning their budgets and evaluating career decisions. Monthly costs vary widely based on specialty, state, type of policy and claims history. Choosing the best medical malpractice insurance involves balancing cost, coverage limits and long-term security.

For physicians navigating new employment offers, transitioning to private practice or reassessing existing coverage, it’s important to carefully review policy options and consult trusted advisors. For more resources on selecting the right coverage and understanding specialty-specific risks, visit the PracticeLink Resource Center.