Responsibly owning and operating a dental practice requires paying close attention to potential risks and finding ways to mitigate them. One way to do so is to acquire insurance policies that are tailored to the specific needs of a dental practice. These tailored insurance agreements can provide the general coverage that all dentists and dental professionals require while ensuring that more unique aspects of the practice are insured.
Whether you currently have a dental practice and are looking to renew or upgrade your insurance, or you plan to open the doors to patients in the near future, you deserve comprehensive insurance coverage that will allow you to do what you love while knowing that risks have been addressed. Regardless of where in the United States you are located, Mahan Dental Law can review your current insurance coverage and advise you on specific terms to negotiate for a new policy.
What to Include in Your Tailored Insurance Policies
There is no such thing as a one-size-fits-all insurance policy, even if it is customized specifically for the dental industry. Every practice is unique in terms of the number of its employees, the types of services that it provides, and the degree of technology it uses. Some practices cover a wide range of dental services while others refer patients out for more specialized work.
At a minimum, you and your organization should be considering the following types of insurance coverage:
Professional liability
This is also known as malpractice insurance and covers errors and omissions related to dental procedures that are performed on patients. The coverage should be specifically tailored to include all aspects of each service that your practice provides. For instance, if your practice performs root canals, the insurance policy should cover each step of the procedure and leave nothing to chance.
General liability insurance
All businesses should have this type of insurance, which covers claims that arise from bodily injury or property damage that may occur on your physical premises. The insurance you have should take into consideration the size and features of your building and even weather conditions which could make an accident likely. Everything from the type of flooring your office uses (some surfaces are slicker than others, making the risk of a slip and fall higher) to whether your office has its own dedicated parking lot will prove relevant.
Property insurance
If your dental practice owns the property on which it operates, then your property insurance policy should be tailored to protect your investment. But you should also have a policy if you are leasing the space that you are using. Make sure you understand what the policy covers, which should include everything from the exterior of the building to the personal property (including assets like equipment) that are inside.
Cyber liability insurance
Dental practices are increasingly relying on electronic and digital technologies to store and convey patient data. This opens the door to potential cyber crimes, data breaches, hacks, damage to data and systems, and much more. An attorney can review the nature of your operation and its use of electronic and digital information to determine what the terms of a cyber liability insurance policy should look like.
Ready to Serve the Unique Needs of Your Practice
We recognize that just as every dental practice is different, so too are the specific insurance needs that you require for your employees, your property, and more. Mahan Dental Law works with practices throughout the country, and we are here to review the details of your practice, learn more about its liability risks, and help you obtain insurance coverage that is tailored to your business. Get started today by giving us a call or completing our online contact form.
