As a dentist, it is important that you have the proper small business insurance to protect you, your office, and your valuable equipment. However, this may lead you to wonder exactly what kind of coverage you need, particularly if you are establishing a new practice for the first time. To help get you started, here is an overview of a few of the most critical types of business insurance coverage that every dentist needs.
Just like any business, it is critical that a dental office has general liability insurance, as this will protect you in the event that an unexpected mishap occurs. For instance, if a patient slips and falls in your office and severely injures themselves, general liability insurance can help to protect you if they try to claim that you are responsible and try to sue you for damages.
Equipment Breakdown Coverage
Perhaps the most important coverage for a dentist to have is equipment breakdown coverage. The dental work you perform relies on the use of expensive, sensitive equipment such as x-ray machines, dental vacuum systems, and other sophisticated equipment that can be costly to repair. Equipment breakdown coverage can help you with the costs of these repairs, and it can even help you to recuperate lost income and other expenses related to equipment breakdown.
Similarly, you may also want to consider business interruption coverage. If a storm or other unexpected event leaves you temporarily shut out of your dental practice and unable to work, business interruption insurance can help to replace lost income for your and your employees based on your past profit records.
Malpractice Insurance (Professional Liability)
Of course, anyone in the medical profession should also invest in malpractice insurance. This is important coverage that will help to protect you and your practice against lawsuits in the event that a patient tries to claim that you made errors in the course of your work.
If you would to like to discuss your options for business insurance please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:30 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
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Rob Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953.