The ADA recommends that people attend their dental appointments at least twice per year for optimal oral health. Combined with the many dental problems that arise, this means dentists have a constant demand for business. With over 200,000 dental offices in the United States and over 1400 in South Carolina alone, dentistry is a growing industry with a major need for insurance.
Learn more about Dentist Office Business Insurance below, and request a quote with King Street Agency today.
What Risks and Hazards are in a Dentist’s Office?
In addition to the physical hazards present in a dentist’s office, there are social and financial hazards as well. These statistics show why it’s so important for dentists to invest in business insurance:
- There were 20,545 lawsuits filed against dentists from 2002-2012
- 2260 lawsuits were filed against hygienists in that same time period
- Surgical fires occur in dental offices up to 600 times each year
- Some of the most common dental procedures that lead to patient lawsuits include:
- Tooth extractions leading to infection
- Endodontic treatments
- Dental implants
- Improper crown placement
- Failed bridge placement
- Complications involving orthodontic treatment
Types of Dentist Office Insurance Coverage
From mistakes with metal tools to malfunctioning equipment, there are many unexpected things that can happen at a dental office. When accidents happen, having the right types of coverage can save you thousands of dollars and may help preserve your reputation. Discover some of the most common types of insurance that are beneficial to dentist offices.
Workers Compensation Coverage
Every job comes with unique risks to its employees, and working in a dental office is no exception. Workers compensation coverage is often required, and will cover lost wages and medical costs if your employees are injured.
General Liability Insurance
General liability insurance is necessary for dental offices, offering coverage for a wide variety of unexpected events. For example, if a patient trips and injures themselves or has their smartphone stolen in your waiting room, general liability coverage will cover the expenses.
Cyber Liability Insurance
Most businesses store important information online, including private patient information and financial data. A data breach can be devastating for your office and can damage your reputation among your patients. Cyber liability insurance can make this recovery process easier by helping to inform patients and cover the costs associated with your lost data.
Equipment Breakdown Coverage
Dentists use a wide range of complex equipment, including digital X-rays, 3D printers, laser dentistry equipment, and more. When a critical dental tool is damaged or inoperational, it could lead to cancelations and patients going elsewhere. Equipment breakdown coverage can help with the cost and make it easier to get up and running again.
When property is damaged by unpredictable events, it can be a major financial setback. Business property insurance helps to offset this cost by covering things like furniture, computers, and other property as outlined in your policy.
Employment Practices Liability Insurance
In the dental field, as in all industries, employees come and go. While ideally every relationship is friendly and amicable, there’s always the risk that a current or former employee sues your practice. Defending a lawsuit is expensive and can take months or years, but employment practices liability insurance can give you peace of mind by covering the court costs.
What Factors Impact the Cost of Your Coverage?
When estimating the cost of your dental office insurance, it’s important to note that multiple factors are involved. Some of the most common factors include:
- Revenue of Your Dental Office
- Number of Employees
- Dental Equipment Covered
- Size and Value of Property
- Location of Dental Office
- Dental Specialties
- Dental Services Provided
Request A Quote
At King Street Agency, we’d like to give back to the dentists in our communities by offering the best possible rates for your dentist office insurance coverage. There are many risks involved with running a dental office. Let us help you find the coverage most important to your business.
Contact us today to speak to a knowledgeable agent or request a quote.