--- title: "EBOOK: Limits of Liability and Deductibles: What Firms Need to Know" description: This comprehensive guide breaks down how step rate pricing affects professional liability insurance and offers practical insights to help law firms manage rising premiums over time. image: https://blog.protexureinsurance.com/hubfs/Imported_Blog_Media/250344%20McGowan%20Protexure_What%20is%20Step%20Rate-3.jpg --- - [Contact Us](https://protexureinsurance.com/contact-us/) - Submit Application - [Accountants](https://portal.protexureaccountants.com/AccountantIns/newqoute_insured.jsp?_gl=1*1we5le7*_gcl_au*MjEzMzI4NTMyNC4xNzcxODU3NDI2) - [Lawyers](https://portal.protexurelawyers.com/LawyersIns/insured.jsp?_gl=1*16wj16v*_gcl_au*NjY0OTM1ODc3LjE3NzE1Mjg2NDIuMTQzOTY3MjIyMy4xNzcxNTI4Nzk3LjE3NzE1Mjg3OTc) Toggle navigation [![Protexure Insurance](https://blog.protexureinsurance.com/hubfs/Logos/Protexture-black.png)](https://protexureinsurance.com/) × - [Accountants](https://protexureinsurance.com/accountants/) - [Lawyers](https://protexureinsurance.com/lawyers/) - [Broker Partners](https://protexureinsurance.com/broker-partners/) - [Products](https://protexureinsurance.com/products/) - Company - [About US](https://protexureinsurance.com/about/) - [Careers](https://www.mcgowancompanies.com/careers/) - Resources - [Blog](https://blog.protexureinsurance.com/) - [FAQ](https://protexureinsurance.com/faq/) - [Policyholder Services](https://protexureinsurance.com/policyholder-services/) - [Get an Estimate](https://blog.protexureinsurance.com/get-an-estimate/) - [**Accountants**](https://portal.protexureaccountants.com/AccountantIns/qqinsured.jsp) - [**Lawyers**](https://portal.protexurelawyers.com/LawyersIns/qqinsured.jsp) - [Contact Us](http://protexureinsurance.com/contact-us/) - [Submit Application](https://protexureinsurance.com/) - [Accountants](https://portal.protexureaccountants.com/AccountantIns/newqoute_insured.jsp?__hstc=72085516.6012890b2f31c47b4fc0ef49586e4ea4.1772817927147.1772826003487.1772828071304.4&__hssc=72085516.1.1772828071304&__hsfp=8365bd8ea259cb62b73683ca3a6f6f70&_gl=1*1gpgz4f*_gcl_au*MTQ2NjkyNjM5MC4xNzcyODE3OTI2LjI4NjA5MDAwMS4xNzcyODIwMTI4LjE3NzI4MjAxMjg.) - [Lawyers](https://portal.protexurelawyers.com/LawyersIns/insured.jsp?__hstc=72085516.6012890b2f31c47b4fc0ef49586e4ea4.1772817927147.1772826003487.1772828071304.4&__hssc=72085516.1.1772828071304&__hsfp=8365bd8ea259cb62b73683ca3a6f6f70&_gl=1*1gpgz4f*_gcl_au*MTQ2NjkyNjM5MC4xNzcyODE3OTI2LjI4NjA5MDAwMS4xNzcyODIwMTI4LjE3NzI4MjAxMjg.) - [All Posts](https://blog.protexureinsurance.com) [Industry Trends & Regulations](https://blog.protexureinsurance.com/tag/industry-trends-regulations), [Guides & Resources](https://blog.protexureinsurance.com/tag/guides-resources) # [EBOOK: Limits of Liability and Deductibles: What Firms Need to Know](https://blog.protexureinsurance.com/ebook-limits-of-liability-and-deductibles-what-firms-need-to-know) [Suzanne Young](https://blog.protexureinsurance.com/author/suzanne-young) • May 15, 2025 ![](https://blog.protexureinsurance.com/hubfs/Imported_Blog_Media/250344%20McGowan%20Protexure_What%20is%20Step%20Rate-3.jpg) Selecting professional liability insurance requires careful consideration of coverage limits, deductible structures, and cost implications. With a range of options available, firms must evaluate insurance policies to ensure they align with financial goals and risk tolerance. Liability defines the maximum amount an insurer will pay for claims, while deductible choices impact out-of-pocket expenses. Options such as single limits, split limits, and claims expense provisions can significantly affect coverage and costs. Deductibles, whether per claim, aggregate, or first-dollar defense, also play a key role in managing financial exposure.   Download the eBook below to discover: - Understanding Split Limits of Liability  - Claims Expenses Outside the Limit (CEOL)  - How to choose the right liability   [![250422_McGowan-Protexure_Understanding-Limits-Of-Liability-and-Deductible-Options_Ebook_CTA](https://blog.protexureinsurance.com/hs-fs/hubfs/Imported_Blog_Media/250422_McGowan-Protexure_Understanding-Limits-Of-Liability-and-Deductible-Options_Ebook_CTA-3.jpg?width=690&height=345&name=250422_McGowan-Protexure_Understanding-Limits-Of-Liability-and-Deductible-Options_Ebook_CTA-3.jpg)](https://info.protexurelawyers.com/limits-of-liability-and-deductibles)   [Go Back](https://blog.protexureinsurance.com) - - ### Related Posts #### [![AI Policies for Law Firms: What Should Your Firm's Policy Address?](https://blog.protexureinsurance.com/hubfs/AI%20Blog%201.png) Wed, Aug 26, 2026 AI Policies for Law Firms: What Should Your Firm's Policy Address?](https://blog.protexureinsurance.com/ai-policies-for-law-firms) #### [![Client Communication and Professional Liability Risk: What Law Firms Should Know](https://blog.protexureinsurance.com/hubfs/Client%20Communication.png) Wed, Jul 29, 2026 Client Communication and Professional Liability Risk: What Law Firms Should Know](https://blog.protexureinsurance.com/client-communication-professional-liability-risk-law-firms) #### [![Law Firm Risk Management: 4 Process Gaps That Can Increase Professional Liability Exposure](https://blog.protexureinsurance.com/hubfs/Business%20gaps%202.png) Wed, Jul 01, 2026 Law Firm Risk Management: 4 Process Gaps That Can Increase Professional Liability Exposure](https://blog.protexureinsurance.com/law-firm-risk-management-professional-liability-process-gaps) ## Ready to Get Started? 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