Dental Lab Insurance Policy Information
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 dental lab insurance for your business.
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.
Below are some answers to commonly asked dental lab insurance questions:
- What Is Dental Lab Insurance?
- How Much Does Dental Lab Insurance Cost?
- Why Do Dental Laboratories Need Insurance?
- What Type Of Insurance Do Dental Labs Need?
- What Does Dental Lab Insurance Cover & Pay For?
What Is Dental Lab Insurance?
Dental lab insurance is a type of insurance designed specifically for dental laboratories. It covers a variety of risks faced by dental laboratories, including property damage, liability claims, and loss of income due to business interruption.
The insurance covers the cost of repairs or replacements for damaged equipment, as well as the cost of legal fees and settlements if the laboratory is sued. It also covers the costs associated with temporary relocation of the laboratory in the event of a disaster or other unexpected event.
The purpose of dental lab insurance is to protect the financial stability of the laboratory and help it recover from unexpected losses.
How Much Does Dental Lab Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small dental laboratories ranges from $67 to $99 per month based on location, size, payroll, sales and experience.
Why Do Dental Laboratories Need Insurance?
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 dental lab insurance coverage is the way for you to keep your laboratory protected.
What Type Of Insurance Do Dental Labs Need?
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 dental 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.
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 dental lab insurance covers legal defense fees, court costs, and settlements.
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 for 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.
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.
What Does Dental Lab Insurance Cover & Pay For?
Dental labs may be sued for various reasons, including:
Product liability: If a dental lab produces a defective product that causes harm to a patient, they may be held liable for the resulting damages. For example, if a dental lab creates a poorly fitting dental implant that causes pain or infection, they may be sued.
Insurance can help protect dental labs against product liability claims by providing coverage for legal defense costs, settlements, or judgments. For example, a general liability insurance policy can provide coverage for bodily injury and property damage claims, including those related to product liability. If a dental lab is sued for a defective product, their insurance policy may cover the costs of defending the claim and paying damages up to the policy limit.
Breach of contract: If a dental lab breaches a contract with a dental practice or patient, they may be sued for damages. For example, if a dental lab fails to deliver a custom dental restoration on time or as agreed, they may be sued for breach of contract.
Insurance can help protect dental labs against breach of contract claims by providing coverage for legal defense costs and damages. For example, a professional liability insurance policy (also known as errors and omissions insurance) can provide coverage for claims alleging negligence or errors in professional services, including breach of contract. If a dental lab is sued for breach of contract, their insurance policy may cover the costs of defending the claim and paying damages up to the policy limit.
Intellectual property infringement: If a dental lab infringes on the intellectual property rights of another party, such as by using a patented dental technology without permission, they may be sued for damages.
Insurance can help protect dental labs against intellectual property infringement claims by providing coverage for legal defense costs and damages. For example, an intellectual property insurance policy can provide coverage for claims alleging infringement of patents, trademarks, or copyrights. If a dental lab is sued for intellectual property infringement, their insurance policy may cover the costs of defending the claim and paying damages up to the policy limit.
In summary, insurance can help protect dental labs against various types of lawsuits by providing coverage for legal defense costs and damages up to the policy limit. Depending on the specific insurance policy, dental labs may be covered for product liability claims, breach of contract claims, intellectual property infringement claims, and other types of claims. It's important for dental labs to review their insurance policies carefully and work with an experienced insurance agent to ensure they have adequate coverage.
Commercial Insurance And Business Industry Classification
- SIC CODE: 8072 Dental Laboratories
- NAICS CODE: 339116 Dental Laboratories
- Suggested Workers Compensation Code(s): 4692 Dental Laboratory
Description for 8071: Medical Laboratories
Division I: Services | Major Group 80: Health Services | Industry Group 807: Medical And Dental Laboratories
8071 Medical Laboratories: Establishments primarily engaged in providing professional analytic or diagnostic services to the medical profession, or to the patient on prescription of a physician.
- Bacteriological laboratories (not manufacturing)
- Biological laboratories (not manufacturing)
- Blood analysis laboratories
- Chemists, biological: (not manufacturing) laboratories of
- Dental laboratories, X-ray
- Medical laboratories, clinical
- Pathological laboratories
- Testing laboratories, medical: analytic or diagnostic
- Urinalysis laboratories
Dental Lab Insurance - The Bottom Line
Protection when operating your business is important, especially when running a dental laboratory. 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.
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
- Blood Banks
- Dental Lab
- Dental Office
- Diagnostic Imaging Centers
- Health Maintenance Organizations
- Healthcare Facilities
- Home Medical Equipment Dealers
- Marriage & Family Therapy
- Medical Clinics
- Medical Laboratories
- Medical Marijuana Dispensary
- Medical Practice
- Medical, Surgical & Hospital Supply Store
- Mental Health Counseling
- Nurse Registry
- Occupational Therapy
- Osteopathic Physicians
- Physicians Office
- Plastic Surgeons
- Skilled Nursing Facilities
- Speech Therapy
- Substance Abuse Counseling
- Telemedicine Business Insurance
- Specialty Medical Centers And Clinics
- Specialty Medical Malpractice
The medical industry is a crucial sector that plays a vital role in ensuring the health and well-being of individuals. It is a complex and highly regulated industry that requires specialized knowledge and expertise. As a result, the medical industry is exposed to a variety of risks, including legal and financial liabilities.
One of the main reasons why the medical industry needs commercial insurance is to protect against medical malpractice. Medical malpractice occurs when a healthcare provider deviates from the standard of care and causes harm to a patient. It can lead to costly lawsuits and significant financial losses for the healthcare provider. Business insurance helps to cover these costs and protect the financial stability of the medical facility.
Another reason the medical industry needs business insurance is to cover the cost of regulatory fines and penalties. The medical industry is subject to strict regulations and any violations can result in significant fines and penalties. Business insurance helps to cover these costs and protect the financial stability of the medical practice or facility.
In addition, the medical industry is vulnerable to data breaches and cyber attacks. These incidents can result in significant financial losses and reputational damage for the medical facility. Business insurance helps to cover the cost of recovering from a data breach or cyber attack and helps to protect the reputation of the medical facility or practice.
Overall, business malpractice insurance is an essential component of the medical industry. It helps to protect against the financial and reputational risks associated with the medical industry and helps to ensure the financial stability and success of medical practices and facilities.
Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Physicians and Surgeons Floater, Valuable Papers and Records, General Liability, Employee Benefits, Professional, Umbrella, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Earthquake, Equipment Breakdown, Flood, Leasehold Interest, Real Property Legal Liability, Computer Fraud, Forgery, Cyber Liability, Employment-related Practices, Business Automobile Liability and Physical Damage and Stop Gap Liability.