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Why Do You Need Indemnity Insurance

why do you need indemnity insurance

In the passage of any legal bill, either on the federal side of the aisle or on a state-level requirement, you can readily be impressed by the amount of attention paid at least in lip service to the budgetary needs of the average family. Unfortunately, the average consumer family these days is falling firmer and more steadfastly into the category of the working poor. Playing on the paranoia of a further slide, insurance companies are offering an additional health insurance and personal coverage policy called an indemnity insurance. These were once the sole property of lawyers and doctors, hospitals and service providers, but now insurance companies have determined that they can write them for the average consumer, whether they need it or not. The plans are sold on desperation and paranoia, not on need. Why do you need indemnity insurance? We will look at this in the following article.

Why Do You Need Indemnity Insurance?

So, why do you need indemnity insurance? If you are a doctor or lawyer, then yes, a policy that pays for your mistakes without hurting your bank account balance is a good thing. But if you are not in a position to professionally cause someone harm, then an indemnity policy has no place in your coverage portfolio.

Medical Indemnity Insurance

Medical indemnity insurance is picked up by doctors and hospitals. This policy type is there to pay off those who the doctors injures through negligence. It happens a great deal.

Indemnity Insurance Company

Though there are several places that consider themselves a strictly indemnity insurance company, and reliable insurance firm can deliver a policy for your needs. It is just a matter of doing your research for which has the best rates and benefits.

Personal Indemnity Insurance

So, why do you need indemnity insurance? The policies that make up the indemnity coverage that we are discussing are designed as a safety feature in case you are ever found criminally negligent in harming someone else. Usually these policies are written up for malpractice protection, but more and more insurance companies are writing them for the average consumer as sort of a just in case scenario. It is driven mostly by paranoia. Personal indemnity insurance is quickly becoming a bigger seller and profit margin for insurance companies, as the vast majority of holders will never have a need to activate their benefits. There is no need, therefore all those premiums are purer profit.

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