Mainstreet FAQ’s
Click on any of the below questions to get answers.
What is Mainstreet Legal Malpractice Insurance?Mainstreet is an insurance agency/ broker founded in 1996 to provide dedicated services to solo attorneys & small firms as well as larger law firms.
Why do different size law firms need special programs?Small firm operations differ significantly from larger law firms. Mainstreet tailors service accordingly. Most insurance retailers will place insurance for a smaller firm but reserve quality service for the larger firms. Not so with Mainstreet. Likewise, larger firms often have risks and risk management needs that small firms do not encounter. Our larger firm program agents are skilled at addressing these concerns and challenges.
Where does Mainstreet provide policies?Mainstreet Legal provides solo attorneys, small firms and larger law practices with legal malpractice insurance nationwide, but if your law firm is not located in one of the following states, please contact us directly at 206-583-0877 instead of using the online quote option.
- Arizona
- California
- Colorado
- Connecticut
- Georgia
- Florida
- Iowa
- Illinois
- Indiana
- Kansas
- Kentucky
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Missouri
- New Jersey
- New York
- North Carolina
- Ohio
- Pennsylvania
- Tennessee
- Texas
- Washington
- Wisconsin
- Virginia
- Use our online premium indication request to get a free rate quote. We’ll provide a premium indication usually the same business day.
- Or call us at 800-817-6333.
The average time is 48 hours.
Does Mainstreet have the best price?Usually, yes! The cost of legal malpractice insurance can vary greatly as it depends on a number of factors such as practice specialty, length of time currently insured, geographic location and previous insurance claim history to name a few.
What about “part-time” lawyers?The quick answer is “yes” we assist lawyers engaged in private practice on a less than full time basis.
What happens if I have a claim against my policy?Contact Mainstreet immediately at 206-583-0877! We are available to connect you with the dedicated professional liability claims staff that your insurance company has assembled, ready to assist you. Local defense counsel represents and defends you. The insurance policy pays for the cost of defending you.
What size of policy should I buy?The answer depends on your particular circumstance taking into consideration the type of cases (and type of clients) you handle and your personal asset situation. It’s also important to take into consideration the increasing cost of defending an insurance claim, even those that have no merit. Mainstreet can help you think through this issue and tailor a policy that best fits your needs. Start an online premium indication request or call us at 206-583-0877.
What if I practice as an Independent Contractor providing legal services to the clients of other law firms?Independent contractors have historically been added to the policy of the firm that has engaged them to provide legal services.However, with law practice opportunities limited for many recent law school grads, a new model of practice is more common whereby a lawyer creates an entire practice (or most of a practice) from providing a range of legal services of assignments from a number of firms. Mainstreet can help guide you to the correct insurance for this new model.
Can Mainstreet help me if I practice or specialize in the following areas of law: Intellectual Property, Cannabis, Medical Malpractice, Real Estate, Securities, Entertainment, Collections, Estate/Probate/Trust?Yes, we have an excellent program and placement record in handling specialty areas even if you are a sole practitioner or part of a law firm.
Am I eligible if I have a claim and/or disciplinary history?Yes. Mainstreet works with several markets that insure attorneys with a claim and/or disciplinary history.
What about the coverage?Insurance companies affiliated with Mainstreet provide broad, industry-standard protection with many additional features not readily available, including:
CEOL – This benefit option gives you more money to be used for settling a claim. Your defense costs will be paid separately, outside of your policy limits.Damages only Deducible– Your deductible does not apply to our cost of defending you; you pay your deductible only if a payment is made to an aggrieved party.Lawyer Discipline Defense – Defends you in a disciplinary proceeding when your license to practice may be at risk.Business Office Policy – Provides premises liability protection for leased office space and coverage for your business property.You should also ask us about:Subpoena Assistance ProtectionPre-claim Assistance“Personal Injury” ProtectionEmployment Practices Defense CoverageWill my policy be a “Claims Made” policy?
Yes, industry-wide, all lawyer policies are “claims made”. However, unlike other programs, our legal insurance specialists will work with your law firm to tailor coverage and pricing for your specific circumstances.
What is a “Claims Made” Policy?A Claims Made policy provides insurance protection for claims made against you and reported to the insurance company during the policy term. It covers only those claims derivative of legal services you rendered (or should have rendered) on or after the retroactive date listed in your policy.
If I switch to Mainstreet from my current company will there be gap in coverage?At your request and direction we will arrange coverage so you can switch with confidence and without any gaps.
When will I need “Tail” coverage (if ever) and what is it?You should acquire “Tail” coverage or an Extended Reporting Period (ERP) Endorsement if your firm stops buying insurance for any reason such as firm dissolution or retirement. An ERP allows for the reporting of claims in the future to cover claims arising out of legal services you provided in the past. We may be able to provide you with a free ERP if you maintain insurance in the program and meet a few other qualifications. We will be glad to discuss this feature with you in detail.