Doctor Insurance in New York: What to Know for 2025

Imagine doctors who help people get well. Sometimes, things can go wrong during treatment, or someone might believe a doctor made a mistake. That’s why doctors need a special kind of protection called malpractice insurance. This insurance helps them if someone sues them. In a place like New York, this type of insurance can be very expensive. This information will explain why and what doctors can do about it.

Why Doctor’s Insurance Costs So Much in New York

New York is one of the most challenging places for doctors to get this insurance because:

• Many People Sue: Many people in New York sue doctors. From 2014 to 2023, over $6 billion was paid out in these cases. In 2024 alone, there were more than 1,200 new cases.
• No Limits on “Pain and Suffering” Money: Unlike some other states, New York does not have a limit on how much money a person can get for their pain or suffering if they win a lawsuit. This can lead to very large payments, such as one case in 2023 where someone received $120 million.
• Risky Medical Jobs: Doctors who perform certain high-risk jobs, like surgeons or OB/GYNs (doctors who help deliver babies), face higher costs because their work can be more complicated, leading to more claims.
• Time to File a Lawsuit: People have up to 2.5 years to file a lawsuit against a doctor, and even longer if the patient is a child.
• Location Matters: If a doctor practices in big cities such as New York City, Kings, Queens, or Long Island, their insurance usually costs more because more lawsuits happen in these areas.

How Much Does This Insurance Cost?

The yearly cost of malpractice insurance changes a lot depending on the doctor’s specific job and where they work in New York.

• Nurse Practitioners (a type of advanced nurse) might pay $2,000 to $8,000 a year.
• Family Doctors (Primary Care) typically pay $15,000 to $30,000 annually.
• Radiologists (doctors who read X-rays) can also expect to pay $15,000 to $30,000 each year.
• Surgeons might pay $50,000 to $100,000 a year.
• For OB/GYN doctors, especially in areas like Long Island, the cost can be as high as $195,891 per year.
• Doctors practicing in smaller cities like Albany or Syracuse might find their insurance costs are 20–30% lower.

Main Insurance Companies for Doctors in New York

Several large companies offer this type of insurance to doctors in New York:

• MLMIC Insurance Company: This is the biggest malpractice insurance provider in New York. New doctors might even get very low prices, starting at $50, with big discounts.
• The Doctors Company: This company is owned by doctors. They offer discounts if doctors take special safety training courses.
• MedPro Group: This company has a very high safety rating.
• Berxi: This company offers more affordable options, with policies starting at $2,000 for Nurse Practitioners and $8,000 for doctors.

How Doctors Can Lower Their Insurance Costs

Even with high costs, doctors can use smart strategies to pay less for their insurance:

• Use an Insurance Helper (Broker): They can work with a special helper called a “broker” who can compare prices from different insurance companies, possibly saving them up to 20% on their yearly cost.
• Get Discounts: Many insurance companies offer discounts if doctors take risk management courses (which teach how to avoid mistakes) or if they have not had any lawsuits against them in the past. Being part of a medical society can also offer discounts.
• Join a Group Plan: If doctors work together in a group practice or for a hospital, they often get better rates on their insurance than if they buy it alone.
• Practice in Smaller Cities: As mentioned, choosing to work in areas like Syracuse instead of New York City can help lower insurance costs due to fewer lawsuits.
• Maintain a Clean Record: Doctors who have a good history with no past claims can save a lot, sometimes 10-25%.

Why This Insurance is So Important

Even though malpractice insurance is not required by law everywhere, most hospitals in New York demand that doctors have it to work there. If a doctor doesn’t have this insurance, they could lose their own personal money if they are sued. Even if a claim against them isn’t true, just hiring lawyers to defend themselves can cost around $40,000. So, having this insurance helps doctors focus on providing patient care without the fear of major financial problems.