Every Dental Practice Should Consider These 4 Insurance Policies
The foundation of any dental practice insurance policy should include Workers Compensation insurance and a business owners policy (BOP) that includes General Liability and Commercial Property insurance. Here we outline the 4 types of insurance policies dental practices typically need, plus two others to consider, to protect themselves and their patients.
Professional Liability Insurance: also known as malpractice insurance, this insurance protects the dental practice against claims of negligence or malpractice that may result in injury to a patient.
General Liability Insurance: this insurance protects the dental practice against claims of bodily injury or property damage that may arise from accidents that happen on their premises.
Property Insurance: this insurance protects the dental practice against damage or loss of their property due to events such as fire, theft, or vandalism.
Workers' Compensation Insurance: if the dental practice has employees, they will likely need workers' compensation insurance to cover medical expenses and lost wages if an employee is injured on the job.
Depending on the size of the practice, many dental practices may also want to consider Cyber and Business Interruption insurance.
Cyber Liability Insurance: this insurance protects the dental practice against cyber attacks that may result in the loss or theft of patient information.
Business Interruption Insurance: this insurance provides coverage for lost income and expenses in the event that the dental practice is forced to close temporarily due to a covered event, such as a fire or natural disaster.
It is important for dental practices to work with an insurance professional to determine the appropriate coverage for their specific needs. It’s also important to find an insurance agent, like Hale Street Insurance, who has access to carriers that specialize in dental practice insurance and can provide your practice with comprehensive coverage at a competitive rate.
