Skip to main content
Law Firm Insurance

Solo Practice vs Firm Policy

Solo practitioners can purchase individual professional liability policies, while firms of two or more attorneys typically need a firm-wide policy covering all attorneys and the entity itself. The choice affects coverage scope, cost allocation, and risk management. Even solo attorneys who share office space with other lawyers must carefully consider which approach protects them best.

Solo Practice Policy

Advantages

  • Complete control over coverage limits, deductible levels, and carrier selection
  • Premium is based solely on your own practice area, claims history, and revenue
  • No risk of a partner's claim eroding your available coverage limits
  • Simpler application and renewal process with fewer variables

Disadvantages

  • No shared premium cost, so the full burden falls on one attorney
  • Coverage limits may be lower than what a firm policy could provide at a comparable per-attorney cost
  • Does not cover the entity if you operate as a PLLC or PC

Best for: True solo practitioners who do not share cases, clients, or liability exposure with other attorneys and want full control over their own coverage.

Firm Policy

Advantages

  • Covers all named attorneys and the firm entity under a single policy
  • Per-attorney premium cost is typically lower than individual policies due to group underwriting
  • Provides entity-level coverage for the firm itself, which is essential for PLLCs and PCs
  • Simplifies administration with one renewal, one application, and one claims process

Disadvantages

  • One attorney's claim can reduce or exhaust the shared policy limits for the entire firm
  • All attorneys are subject to the same carrier, terms, and deductible structure
  • Adding or removing attorneys mid-term requires endorsements and potential premium adjustments

Best for: Any firm with two or more attorneys sharing liability exposure, and especially firms organized as PLLCs, PCs, or LLPs that need entity-level coverage.

Verdict

If you practice truly alone with no shared liability, a solo policy gives you autonomy and protection from others' claims. Once you add partners, associates, or of-counsel relationships, a firm policy is almost always the better choice for comprehensive coverage and cost efficiency. Many firms also supplement with higher limits or excess layers to protect against the shared-limits risk.

Get a free coverage review

Tell us about your firm and we'll compare your current program against best practices -- no cost, no obligation.

Free coverage review for law firms.