I carry malpractice and/or liability insurance. Is that enough to protect my assets?
Malpractice and liability insurance are very important and serve as a great first line of defense in the event of a lawsuit. The policy will probably pay for your legal fees in defending the lawsuit. However, there’re certain things that the policies will not cover and when that’s the case, it’s best to diversify your asset protection plan and make sure that your assets are protected in case there’s things that the policies will not cover.