Dental Practice Insurance considerations

Dental Practice Insurance

Sudden and unexpected incidents happen. It could be that you suffer a water leak in a dental surgery or high winds have caused damage to the roof of the dental practice.

The insured incidents are defined as named perils within your policy.

Before you consider price or service it would be highly recommended that you review the named perils within your Practice Insurance policy. This is a simple way to understand what is covered and more importantly what is not covered.

The insurance industry is fundamentally based on assessing quantifiable risks. In the main Dental Practice Insurance policies cover named perils such as fire, flood, theft which are easy to assess for an insurer as it is usually confined to one location or a local area. Large scale incidents like wars, sonic booms and global pandemics are usually what you would expect to be excluded.

It is imperative that the contents sum insured for your Practice Insurance are accurate and based on a new for old basis.  New for old insurance is a type of cover that helps you to replace items that have been damaged, lost, or stolen with brand new products of equivalent value.

Getting the right Practice Insurance policy will provide you peace of mind in the event of a sudden and unexpected incident. It will also ensure as an employer that you meet your legal obligations to hold Employer’s Liability Insurance.

Other Key Considerations

Practice Insurance goes somewhere to covering the risk you face on a day-to-day basis. However, over the last few years we have seen a significant increase in both cyber and vicarious liability incidents which would not be covered by a Practice Insurance policy.

As an owner of a dental practice and an employer you can be held responsible for the negligent acts and omissions of an employee and/or associate. It is becoming more common practice that law firms acting on behalf of patients are bringing all parties to account.

It has been well documented that the BDA suffered a large Data Breach in 2020 and it is likely the costs run into hundreds of thousands. Data breach insurance is a type of monetary coverage purchased by practices to protect financial interests in the event of data loss. Data breaches occur for several reasons, including hacking and poor cybersecurity procedures.

Our recommendation

Price is of course an important factor for most practice owners and managers but ensuring you have an insurance portfolio that protects against traditional and emerging risks is imperative. Take time each year to discuss in detail the practices insurance coverage, what is covered, what is not covered and discuss any recommendations.

Add links to other Dental pages:

Dental Indemnity: Dental Indemnity Insurance | Dental Indemnity for Dentists (www.allmedpro.co.uk)

Cyber Liability Insurance: Cyber Liability Insurance – Medical & Dental | All Med Pro

Practice Overheads Insurance: Practice Overheads Insurance – Medical & Dental | Award Winning Team (www.allmedpro.co.uk)

Hands & Eyes: Hands & Eyes Insurance – Medical & Dental | All Med Pro

Pressure Vessel Inspection: Pressure vessel inspection | 1-2-1 Advice | Speak with the team today! (www.allmedpro.co.uk)

Please visit our blogs (Dental practice insurance Archives – All Med Pro) for further advise on your Dental Practice.

What is vicarious liability? (bda.org)

For peace of mind that you and your business reputation are protected, contact All Med Pro for all your insurance needs.

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