Medical liability insurance is an insurance coverage that medical professional receive to protect them from costly lawsuits made against them for malpractice. As a result, medical liability insurance is also referred to as malpractice insurance. In addition to being advantageous to the doctor, who otherwise would pay millions in damages in the event of a malpractice suit, many state laws require that practicing professionals are equipped with this insurance. Usually, these professionals pay into insurance policies on a monthly or yearly basis, similar to the other types of insurance policies in the United States. However, the prices of a medical liability insurance policy are gravely incomparable to any other types of insurance, with certain professionals paying upwards of $100,000 towards insurance.