Dental Office Insurance Policy Information
Dental Office Insurance. Dentists are doctors who are educated and licensed to specialize in the diagnosis, treatment, and prevention of disease, injury, damage, or loss to teeth, gums, and the mouth. Dentists may treat poorly aligned teeth with braces or other devices. They may fill, remove, or replace missing, diseased, or damaged natural teeth with artificial fillings, crowns, bridges, dentures, or dental implants.
From general checkups and cleanings to filling cavities and root canals, as a dentist, you provide invaluable services for your patients. Oral health is exceedingly important, and your job is to make sure that the teeth of the patients you treat are strong and healthy.
In addition to providing top-notch dental care, you are also responsible for ensuring your dental office is a safe place for your patients, as well as your staff and anyone who visits your property. Your dental office is constantly abuzz with activity, which is a good thing; but, so much activity means mishaps can happen. As the owner of your office, you are responsible for anything that goes wrong; but, if you have the right dental office insurance, recovering will be a lot easier.
Dental office insurance protects your practice from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked dental office insurance questions:
- What Is Dental Office Insurance?
- How Much Does Dental Office Insurance Cost?
- Why Do Dentist's Offices Need Business Insurance?
- What Type Of Insurance Do Dental Offices Need?
- What Are Dentists Risks & Exposures?
- What Does Dental Office Insurance Cover & Pay For?
What Is Dental Office Insurance?
Dental office insurance is a type of insurance specifically designed to protect dental practices and their employees from financial losses related to unexpected events such as accidents, injuries, and lawsuits. It typically includes coverage for property damage, liability, and professional malpractice.
Dental office insurance policies can also include coverage for lost income, business interruption, and other financial losses. It can also include Workers' compensation insurance for employees in case of on-job injury. It is important for dental practices to have the proper insurance coverage to protect against potential risks and financial losses.
How Much Does Dental Office Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small dental offices ranges from $57 to $79 per month based on location, size, payroll, sales and experience.
Why Do Dentist's Offices Need Business Insurance?
Dentist's offices need insurance for several reasons. First and foremost, it provides financial protection in case of unforeseen events or accidents. For example, if a patient is injured while receiving treatment in the office, the insurance will cover any medical bills or compensation that may be required.
Additionally, insurance helps to protect the dentist and their staff from liability in case of a legal dispute or lawsuit. This can be especially important in the event of a mistake or error in treatment.
Insurance also helps to cover the cost of any damage or loss to the office, such as theft or damage due to natural disasters. This can be critical in helping the office to continue operating and serving patients after an unexpected event.
Furthermore, many dental practices require insurance as a part of their contracts with suppliers or partners. For example, a dental supply company may require that the practice have a certain level of insurance coverage in order to do business with them.
Overall, insurance is essential for a dentist's office to protect the practice and its patients from financial and legal risks. It is a necessary investment that helps to ensure the long-term stability and success of the practice.
What Type Of Insurance Do Dental Offices Need?
The types of insurance coverage dental offices need vary and depend on a variety of factors; the size of the office and where it's located are just some of the factors that will determine exactly what type of insurance coverage you need. However, there are key policies that every dentist's office must have, including:
- Malpractice - This type of coverage protects against the potential financial consequences of a lawsuit. If a patient believes that they have suffered harm due to the actions or negligence of a dentist or dental staff, they may decide to file a lawsuit.
- Commercial General Liability - This type of coverage protects you from any third-party personal injury and property damage claims that may be filed against you. For example, if a patient trips over an electrical cord while walking through the waiting room, suffers an injury, and files a lawsuit against you, general liability insurance will help to cover the cost of any necessary medical care and legal defense fees.
- Commercial Property - You're also responsible for any damages that your dental office and the contents within it may sustain in fire, a storm, or an act of vandalism. Commercial property insurance covers the cost of any repairs or replacements that may be needed in the event that your office, furniture, or other supplies are damaged.
- Equipment Breakdown - From x-ray machines to sterilization equipment, you rely on various types of costly tools and equipment to treat your patients. If any of your equipment breaks down, the cost of any necessary repairs can be exorbitant. Equipment breakdown coverage helps to pay for the repairs your dental equipment many need if they ever malfunction.
- Workers' Compensation - From hygienists to office assistants, your staff is an integral part of your dental practice. They help you meet the needs of your patients and keep your office running smoothly. If an employee is ever injured while working, workers' compensation insurance will help to cover the cost of medical care. It also replaces any wages that employees may lose if they are unable to work while they are recovering from their injuries.
The above are just some of the forms of commercial insurance coverage you'll need for your dental practice.
What Are Dentists Risks & Exposures
Premises liability exposure is moderate due to patients' access to the premises. To prevent trips, slips, and falls, all areas accessible to patients must be well maintained with floor covering in good condition. The number of exits must be sufficient, and be well marked, with backup lighting in case of power failure. Steps should have handrails, be illuminated, marked, and in good repair. Parking lots should be maintained free of ice and snow.
Housekeeping should be excellent and spills must be cleaned up promptly. Overhead equipment should be moved before patients exit dental chairs. Maintaining a patient's privacy is critical. Examination rooms, check-in and checkout stations must be in private areas so one patient cannot view information or overhear conversations regarding another patient's' confidential information.
Professional exposures are extensive. The exposure increases if the provider fails to conduct thorough background checks to verify employee's credentials, education, and licensing. The more varied procedures that the dentist performs the more chance of professional loss.
Training and safety equipment should be in place to prevent exposure to radiation when performing X-rays. Needles and other equipment must be sterilized and sanitized to prevent the spread of blood-borne infectious diseases such as hepatitis, HIV and AIDS. On-site surgery must be closely monitored, with an experienced trained individual administering and monitoring the use of the anesthetic.
Many dentists handle cases requiring anesthesia in a hospital environment and use the staff anesthesiologist. Finally, inappropriate touching and sexual misconduct must be considered.
Workers compensation exposure is due to the possible transmission of disease from a patient. Gloves and masks should be worn at all times when working with the patient. Employees should have access to vaccinations to prevent diseases. Unruly or unpredictable patients can cause harm including strains, back injuries, and contusions. Dust caused by grinding and exposure to adhesives and other substances can result in occupational injury to eyes, lungs, or skin.
Training and safety equipment should be in place to prevent exposure to radiation when performing X-rays. Since patient information and billings are done on computers, potential injuries include eyestrain, neck strain, carpal tunnel syndrome, and similar cumulative trauma injuries that can be addressed through ergonomically designed workstations.
Property exposure is moderate due to the use of expensive diagnostic and dental equipment. Ignition sources include electrical wiring, heating, and air conditioning systems, and overheating of equipment. All electrical wiring must be up to code and equipment properly maintained. A small fire which produces smoke can cause considerable damage when sterile equipment and environments are compromised.
Target items for theft include gases, pharmaceuticals, and gold used for fillings. These items should be inaccessible for unauthorized use and stored in a protected area after hours. Most property items are better covered on inland marine forms such as a computer form or a physicians and surgeons floater. The business income and extra expense exposure can be minimized if the dentist has arranged for temporary facilities with another dentist.
Equipment breakdown exposures are high as operations are dependent on dental equipment being available. All equipment should be maintained on an ongoing basis.
Crime exposure is from employee dishonesty of both money and inventory. The potential for theft, directly or by means of identity theft, is great. Background checks should be conducted on all employees handling money. Dentists keep gases, gold, and pharmaceuticals on the premises. Rigid controls must be maintained including inventory control and limited access to storage areas.
All ordering, billing, and disbursement must be handled by separate individuals. Money and securities are a concern if payments are accepted on premises. Deposits should be made regularly and money should not be kept on premises overnight.
Inland marine exposure includes accounts receivable if the dentist bills for services, computers, physicians and surgeons equipment floater (which can include all office furnishings), and valuable papers and records for patients' and suppliers' information. Accounts receivable coverage is needed if the dentist bills for services. Computers are used for patients' records and other office purposes, but some dental equipment, such as video equipment and X-ray machines, is now also computerized.
Physicians and surgeons equipment includes items that the dentist may take off site to handle emergencies. Duplicates of all records and programs should be kept off site.
Business auto exposure is generally limited to hired and non-owned liability for employees running errands. Dentists or other personnel may travel to client locations such as hospitals and nursing homes. If there are owned vehicles, all drivers should be licensed with acceptable MVRs. Vehicles must be maintained and records kept in a central location.
What Does Dental Office Insurance Cover & Pay For?
Dentists can be sued for a variety of reasons, including:
Malpractice or Negligence: Patients may file a lawsuit if they believe that a dentist's negligence or malpractice caused harm, injury or resulted in a bad outcome.
Improper Diagnosis or Treatment: If a dentist incorrectly diagnoses a condition or provides an incorrect or inappropriate treatment, it may result in patient injury or harm, which may lead to a lawsuit.
Failure to Obtain Informed Consent: If a dentist fails to properly inform the patient of the risks and benefits of a procedure, and the patient suffers harm as a result of the procedure, the patient may file a lawsuit.
Breach of Contract: If a dentist fails to meet their contractual obligations with a patient, such as providing promised services or failing to properly document procedures or progress, a patient may sue for breach of contract.
Insurance can protect dentists from lawsuits by providing them with professional liability insurance, also known as malpractice insurance. This insurance helps dentists cover the costs of legal defense and any damages awarded in a lawsuit.
For example, if a dentist is sued for malpractice or negligence, their insurance company may hire a lawyer to defend them in court. If the dentist loses the lawsuit, their insurance may pay for any damages awarded to the patient up to the policy limit.
In the case of improper diagnosis or treatment, insurance may help cover the cost of settlements or judgments in favor of the patient, as well as legal fees and court costs.
If a dentist is sued for failure to obtain informed consent, their insurance may help pay for legal defense and any damages awarded, as long as the dentist followed proper procedures for obtaining informed consent.
In the case of breach of contract, insurance may help cover the cost of legal defense and any damages awarded to the patient if the dentist is found to be in breach of their contract.
Overall, professional liability insurance can help dentists mitigate the financial risk of lawsuits and protect their practice from potentially devastating legal and financial consequences.
Commercial Insurance And Business Industry Classification
- SIC CODE: 8021 Offices and Clinics of Dentists
- NAICS CODE: 621210 Offices of Dentists
- Suggested Workers Compensation Code(s): 8832 Physician & Clerical
Description for 8021: Offices and Clinics of Dentists
Division I: Services | Major Group 80: Health Services | Industry Group 802: Offices And Clinics Of Dentists
8021 Offices and Clinics of Dentists: Establishments of licensed practitioners having the degree of D.M.D. or D.D.S. (or D.D.Sc.) and engaged in the practice of general or specialized dentistry, including dental surgery. Establishments operating as clinics of dentists are included in this industry.
- Clinics of dentists
- Dental surgeons, offices of
- Dentists, offices and clinics of
- Endodontists, offices of
- Oral pathologists, offices of
- Orthodontists, offices of
- Pathologists, oral: offices of
- Periodontists, offices of
- Prosthodontists, offices of
Dental Office Insurance - The Bottom Line
To find out what other types of coverage you may require and the amount of coverage you should carry, consult with a reputable and experienced agent that specializes in commercial insurance for dental practices.
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.