Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Florida Dental Lab Insurance
Florida Dental Lab Insurance. Dental laboratories manufacture artificial bridges, crowns, dentures, and implants to replace patients' natural teeth, plus orthodontic devices such as retainers. They generally receive molds of patients' mouths from dentists and build prostheses using plastics, precious and non-precious alloys, porcelain, or steel. Completed prostheses are delivered to dentists for final fitting. Some dental laboratories work directly with the general public.
If you own a dental lab, then you must ensure you have the right protection for your business. Dental labs are necessary for the making of customized dentures, crowns, bridges and other equipment to be used by their customers. In the daily operation of your dental lab, there may be different accidents that happen. For this reason the protection of you business by having the correct insurance is important. The way to do this is to get the right Florida dental lab insurance for your business.
Florida dental lab insurance protects your laboratory from lawsuits with rates as low as $67/mo. Get a fast quote and your certificate of insurance now.
Common Risks Involved With Dental Labs
While operating, some things could go wrong such as dental equipment causing pain or injuring a patient. Injury can also be caused by an employee. Having the right Florida dental lab insurance coverage is the way for you to keep your laboratory protected.
Dental Labs Basic Coverage Plan
The first step to covering your business from the potential risks it faces is to know the different policy coverages and to choose the right ones for your business. Here are some of the different insurance plans you could get to protect your FL detnal laboratory:
Dental Lab Professional Liability Insurance: Professional liability insurance is an important policy to have as a part of your business. If the equipment you sell to a dental professional does not perform the way it's supposed to or causes damage for their business, you could be held liable. Problems like this could lead to lawsuits against your business.
As a dental lab owner your business will be exposed to lawsuits if something goes wrong. Having professional liability insurance protects you against negligence lawsuits if your product has defects and causes harm. This type of insurance helps to pay for legal defense fees, court costs, attorney fees, etc. You could end up spending lots of money if you do not have this level of coverage in your business.
Commercial Property Insurance: Having this type of insurance helps to protect against physical damage to equipment while on the job. If there is ever a fire, smoke, inclement weather, theft or anything that destroys your building and its contents, then having this insurance reimburses you for the cost you incur. If you are renting a place for your dental lab then having this type of insurance is good too.
Commercial property insurance also offers coverage for business interruption. If there is ever a time where you won't be operating your business for some time, then commercial coverage helps with the expenses of that period. Whether it's to relocate because of damage to the property where your lab was operating or the building was destroyed this insurance keeps you covered.
Commercial General Liability: If you want your business fully covered, then this is the insurance you need. If you or an employee destroys another person's property or causes injury to a third party, this protection will keep you covered. Also if there is a lawsuit against your company this insurance helps with the costs associated. This Florida dental lab insurance covers legal defense fees, court costs, and settlements.
FL Business Auto Insurance: As a part of your business, you'll be required to use vehicles. There is always the possibility of getting in an accident while on the job. If your employees are using their vehicles for job purposes, then you may need to get non owned or hired auto liability insurance to keep them covered.
Commercial Umbrella Insurance: The underlying limits of your general liability policy might be too low. If this is the case, then you can purchase additional protection for your business. With umbrella insurance, it is possible for you to purchase excess liability insurance.
Workers Compensation: To work in most states, you must have this coverage as a part of your business insurance fro any non-owner employees. This type of coverage helps when an employee is injured while on the job and needs medical attention. If there are medical costs associated with the injury then this insurance helps with it. If the accident results in a fatality, then this coverage pays benefits to the surviving family.
Florida Dental Laboratories' Risks & Exposures
Premises liability exposure is extremely limited since few customers visit the premises. In the event, that the laboratory deals directly with the public, waiting and examination areas must be kept clean. Hallways should have appropriate signage and lighting.
Products liability exposure is high since finished prostheses are used in patients' mouths. The exposure increases if the dental lab fails to conduct thorough background checks to verify employees' credentials, education, and licensing when required by the state. An improperly secured tooth could result in choking.
As patients may have allergic reactions to some of the materials used in the dental prosthesis, the laboratory should advise the dentist of all materials used. Molds of patients' mouths may contain small quantities of blood-borne pathogens so should be kept strictly separate from one another. Equipment used should be sanitized between orders. Quality control is needed to ensure that firing time has been appropriate and that the artificial teeth in dentures are adequately secured.
Environmental impairment exposure is significant due to the potential for contaminating air, ground, or water by improperly disposing of medical waste or waste from materials used in making prostheses. Disposal must be documented and meet all FDA and EPA standards.
Workers compensation exposure can be high. Workers can pick up blood-borne pathogens from contaminated molds. Gloves, eye, and ear protection should be worn at all times while handling molds and prostheses. Common injuries include arm and hand vibrations from machines, back strains from working in awkward positions, burns from chemicals or molten metals, contact dermatitis, foreign objects in the eye, and hearing impairment from noise.
Ergonomically designed workstations can prevent repetitive motion injury. Exposure to dust and gases, including those from toxic chemicals such as beryllium or silica, can result in long-term occupational disease. Ventilation systems should be functioning properly. Workers must be made aware of warning symptoms so they can obtain treatment as early as possible.
Property exposure is high due to the specialized types of equipment used to make dental prostheses. Ignition sources include electrical wiring, heating, and cooling equipment, as well as overheating of production machinery. Electrical wiring must be grounded and meet all current codes. Due to the sterile conditions that must be maintained throughout the facility, even a small fire can result in a large loss due to smoke contamination requiring re-sterilization. Smoking should be prohibited.
Molten metal is necessary to work with the various dental appliances. Small furnaces or kilns, which may generate heat up to 2,000 degrees, are needed to heat the porcelain teeth. There is even a vulcanizing process involved. Upkeep of the equipment is vital. There should be automatic shut-off devices to prevent overheating. Flammable chemicals should be kept in separate storage areas away from ignition sources. Raw materials, including gold, are expensive and may be targeted by thieves.
Appropriate security controls should be taken including physical barriers to prevent entrance to the premises after hours and an alarm system that reports directly to a central station or the police department. Business income and extra expense can be significant due to the high cost of equipment and the time it may take to repair or replace a damaged item.
Equipment breakdown exposure is due to the specialized equipment used in making bridges, crowns, and dentures. A breakdown could be costly due to the time to install replacement parts or the lack of appropriate backup facilities.
Crime exposure is from employee dishonesty as gold and other materials used in making dental prostheses may be expensive. Background checks, including criminal history, should be conducted on all employees prior to hiring. Ordering and billing must be handled by two different employees. Gold must be kept in a protected area, such as a safe, to prevent unauthorized access.
Inland marine exposure is from accounts receivable if the laboratory bills for services, bailees customers for work on existing plates or dentures, computers and valuable papers and records for patients' and suppliers' information. All items belonging to customers must be properly labeled so they can be returned to their rightful owners. Records should be duplicated and stored in an off-site facility.
Commercial auto exposure is generally limited to hired and non-owned for employees running errands. If the laboratory has owned vehicles and offers pickup or delivery services to dentists, drivers must be licensed with acceptable MVRs. Vehicles must be well maintained with documentation kept in a central location.
FL Dental Laboratory Coverage
Protection when operating your business is important, especially when running a dental lab. You can lose a lot in your business if you don't have the right protection. Take the time to speak with an insurance professional and work to find the right insurance for you.
Florida Economic Data And Commercial Insurance Requirements
If you are thinking about starting up a business in the state of Florida, it's important to understand the economic standing of the state before you set up shop. Furthermore, you should understand the rules and regulations regarding FL commercial insurance.
With this information, you will be able to determine if Florida is the right place for your business, and if so, what type of insurance you will need to carry to protect yourself, your employees, and the people that you serve.
Economic Trends For Businesses In FL
Florida is known as the sunshine state, and the economic outlook for this state is just as bright as the weather. It is estimated that the economy in Florida will reach $1 trillion by the end of the 2019 calendar year. However, while financially, the economy is expected to boom, it is forecasted that job growth will decline.
The reason for the economic boom? While businesses do certainly contribute to the economy, industry isn't the reason why Florida's economy is expected to soar; the residents that move to the state are largely responsible for its economic growth. Approximately 898 people move to Florida every day, and those new residents bring a tremendous amount of income for the state.
In terms of job growth, the rate of new jobs has been its highest since 2007; however, it is forecasted to slow during 2018. Approximately 180,000 new jobs will be added in 2018, which is slightly less than the new jobs that were added in 2017.
The industries that contribute the most to Florida's economy include:
- Aviation & Aerospace
- Financial Services
- International Trade
- Life Sciences
Commercial Insurance: Regulations & Limits In Florida
The Florida Office of Insurance Regulation regulates insurance in FL. The only type of coverage that business owners must carry is workers' compensation. Organizations in any industry must carry this type of coverage if they employ a staff of hourly or salaried workers. But, organizations that employ three or less people are not legally required to carry this type of coverage.
Business owners are also required to carry commercial auto insurance if they use any vehicles for their operations, such as making deliveries or transporting goods. Commercial liability insurance is another type of coverage that Florida business owners should consider carrying, though they are not legally required to have this type of insurance.
Additional Resources For Medical Insurance
Discover small business insurance for medical and dental professionals. Medical malpractice insurance is a type of professional liability that protects health care professionals from liability causing in bodily injury, medical expenses and property damage.
- Ambulatory Surgical Center
- Art Therapy
- Assisted Living Facilities
- Dental Lab
- Diagnostic Imaging Centers
- Healthcare Facilities
- Home Medical Equipment Dealers
- Marriage & Family Therapy
- Medical Laboratories
- Medical Marijuana Dispensary
- Medical Practice
- Mental Health Counseling
- Occupational Therapy
- Physicians Office
- Skilled Nursing Facilities
- Speech Therapy
- Substance Abuse Counseling
Professional liability offers protection against claims of malpractice for all sums that the medical professional becomes legally obligated to pay as damages because of rendering or failing to render professional services.
The coverage provided is often called medical malpractice. For decades, many involved in the health care field and insurance companies that provide insurance coverage to providers have stated that malpractice lawsuits have created an ongoing crisis of restricting insurance availability, due to loss of insurance companies that write the coverage and significant rate increases.
As a result, state legislatures have taken the following actions to address the situation:
Imposed a dollar limitation of liability for malpractice suits.
Modified statutes of limitation to limit the number of years that a suit may be brought against a physician following a negligent act.
Modified when the statute of limitations takes effect. An example is beginning from a negligent act's occurrence rather than from its discovery.
Passed laws to modify tort law procedures and doctrines that relate to malpractice.
Because of differences in law by state it is important to know the states in which the covered health care providers are licensed and regularly practice. Some health care providers may practice in multiple states because of their particular specialty, their reputation or the demand for their services. Some hospitals may have ownership in facilities or provide services to patients that are outside of their main location state.
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