How to Choose Insurance for your Dental Practice
Once you graduate from dental school and are finally ready to start your own practice one of the more important things you will need to do as a dentist is to get insurance for your practice. This includes dental malpractice insurance but it also includes liability insurance for your practice, insurance on the building and its contents, workers compensation and employment practices liability insurance. While this may seem like a lot of insurance to have just to run a dental practice these four insurances will protect your business and your career and ensure that you can remain in practice for years to come.
The most important insurance a dentist needs is his malpractice insurance, whether you have your own practice or work for someone else you will need to make sure that you have this. Malpractice insurance covers you in the event that one of your patients decides to sue you for any reason relating to the work that you perform on them. Malpractice insurance normally covers the cost of going to court, insurance normally provides their own lawyers, and it covers the costs of any judgment that is made against you should you lose the case.
As with any business owner you will want to make sure that you have liability insurance, this covers you should anyone slip and fall in your business or otherwise get injured on your premises for any reason. Getting this insurance as a dentist may seem excessive but every business should have liability insurance and in fact in many states this type of insurance is required for you to even open your doors.
Property protection will cover your building and all the contents inside your building from things such as fire and theft. Depending on the type of insurance you get you may also have coverage from acts of God, and damages to your equipment from accidents that occur in your building. Having this insurance as a dentist can save you thousands of dollars as all of your equipment can be very costly to replace should something like a fire happen.
Workers compensation insurance for dentist offices is the same as for any other businesses; most states require that you have this insurance for all the employees in your practice. This insurance can be quite expensive but it protects not only an employee should they get injured on the job but in most instances it protects you from getting sued as well.
The last type of insurance as a dentist that you should consider is employment practices liability insurance. This type of insurance protects you from claims or lawsuits regarding your employers. This would cover things such as discrimination and wrongful termination. In the event that you were taken to court for employment related issues this insurance would cover court costs and judgments made against you.
If you are looking for a comprehensive package of insurance to protect your practice with then take a look at what EDIC has to offer. Nobody offers a more complete package of professional and personal insurance and they offer discounts for packages.
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