It is critical for any business to carry professional liability insurance and that includes any doctor or dentist. Insurance companies that already carry your automobile, homeowner or health insurance might have plans that will fit your dental practice too. There may even be discounts available for carrying all the plans through one company or agent. This website will explain why you need this insurance coverage and where you can find it.
In the mid-1970's professional liability insurers suddenly began raising rates dramatically for dentists and physicians and even abandoning the market altogether. This crisis caused dentists across the nation to worry how they were to insure themselves. The California Dental Association responded to this crisis by forming their own professional liability insurer owned completely by dentists. In November of 1979 The Dentists Insurance Company was incorporated with its first policy taking effect on July 1, 1980 . They have received an excellent "A" rating by the A.M. Best Company, America 's leading insurance rating firm. Now they offer dentist plans to over 14,000 dentists throughout numerous states. You can follow the link above to their website to find out which dental associations and states they offer coverage to.
Just one expensive professional liability claim could ruin the practice you have taken years to build. Some states might even require that dentists carry liability coverage. Some of the features and options you might look for in insurance plans are:
- Prior acts coverage available
- Automatic "tail" in the event of death or permanent disability
- Waiver of premium for short-term disability and maternity leave
- Credits made available for loss-free experience, completion of accredited risk management course, new dentists in practice and part-time practices.
- No additional charge for Locum Tenens coverage
- Additional supplemental coverage to your existing liability coverage
- Coverage for advertising activities
- Loss control experts
- Claims advice from former or current dentists
- Fast turnaround time on claims, not more than 48 hours
- Knowledgeable and courteous underwriters
- Installment plans available
Another insurance company dealing with insurance for dentists is DentalInsurance.com. They carry a wide variety of insurance plans and programs both nationally and regionally. Be sure to check out insurance companies that do business in just one state, yours. You can usually find the best rates and coverage limits with these smaller companies.