So, you’re finally taking the leap and opening your own law firm. It’s an exciting move — and a risky one. You might be ready to hang your own shingle, but the one thing that can quietly derail your plans before your practice ever becomes profitable is something most attorneys overlook: insurance.
This isn’t just about checking a box or filling out a form. It’s about protecting everything you’re building.
I’m Ciara Gravier, owner of The Bunker, a boutique commercial insurance agency built to serve modern law firm owners. I’ve worked with firms across Florida and beyond, and here’s what I can tell you: when attorneys wait too long to get the right insurance in place, it often costs them way more than just a premium. It can cost them their business.
Let’s walk through what you actually need to protect your firm from lawsuits, loss, and liability.
Why Lawyers Need to Think Differently About Risk
Lawyers are in a unique category of professional risk. You aren’t just selling a product or service — you’re managing other people’s legal problems. That puts a target on your back from day one.
According to the American Bar Association, solo practitioners face nearly double the rate of malpractice claims compared to attorneys at larger firms. And most of those claims? They don’t come from actual negligence. They come from missed deadlines, poor communication, or simply a client who wasn’t happy with the result.
Which is why the idea of “waiting until you’re bigger” before buying coverage is not just naive — it’s dangerous.
The 3 Must-Have Coverages for New Law Firms
Whether you’re opening a solo shop or launching a boutique firm, here are the three essential coverages you need to consider:
- Professional Liability Insurance (Malpractice Insurance)
This is the most important coverage for any attorney. It protects you from claims related to the legal services you provide. Even if you did everything right, defending a claim can cost thousands of dollars. Without malpractice insurance, you’re on the hook for all of it.
- General Liability Insurance
This is the basic foundation of business coverage. If someone slips and falls in your office, or if a vendor claims you damaged their property, general liability steps in. If you’re meeting clients face-to-face or leasing office space, this is a must.
- Cyber Liability Insurance
You handle sensitive client data. Hackers know this. A breach could lead to fines, lawsuits, reputation damage, and more. Cyber coverage helps pay for breach response, legal defense, and regulatory penalties.
Depending on your firm, you might also consider Employment Practices Liability (EPLI) if you plan to hire staff, or a Business Owner’s Policy (BOP) to bundle property and liability coverages together.
Common Mistakes to Avoid
If you’re like most lawyers I speak to, you’re getting bombarded with cheap insurance offers online or friends referring you to someone who handles their home and auto.
Let me save you some pain:
- Mistake #1: Using a personal lines agent
Your cousin’s friend who does car insurance is not the right person to help you protect your law firm. You need a commercial specialist who understands legal practice risks.
- Mistake #2: Buying the cheapest policy you can find
A low premium means nothing if the policy excludes the very thing you’re most likely to be sued for. Read the exclusions. Better yet, work with someone who can translate them for you.
- Mistake #3: Buying insurance online without guidance
Just like you wouldn’t recommend a client use a DIY legal template, you shouldn’t treat your insurance that way either.
Bottom Line: Insurance is a Strategic Tool
Your insurance program shouldn’t be an afterthought. It should be part of your foundation. It’s what keeps you stable when a claim hits. It’s what lets you sleep at night when a client threatens to sue. It’s how you protect your time, money, and reputation.
You don’t need to know it all. But you do need a partner who does.
Want help building the right protection for your law firm?
Book a call with me at The Bunker. We’ll walk through what your firm needs and why, so you can launch with confidence.
Schedule some time to meet with us here so we can discuss how to help you!