Pediatric dentists provide oral care for infants, toddlers, children, and teenagers. They provide invaluable services to their patients. However, as with any medical profession, being a pediatric dentist comes with inherent risk. Whether completing a routine exam or a more complicated procedure, there is a lot that can go wrong. No to mention the general risks that come with operating a dental practice. Luckily, pediatric dentist insurance exists to safeguard you and your dental practice against property damage, lawsuits, and more. To learn more about how pediatric dentist insurance works, keep reading.
Day-to-day risks faced by pediatric dentists
Operating a pediatric dental clinic comes with inherent risks. That is why pediatric dentist insurance is so important – it can provide financial protection against a whole host of risks, such as property damage, cyber-attacks, lawsuits, and more. To help you understand the importance of insurance, we’ve put together the following list of some of the most common risks that pediatric dentist insurance can protect against:
- Property damage: A fire breaks out at your dental clinic and damages expensive equipment.
- Third-party bodily injury: A patient falls out of a dental chair and insures themselves.
- Lawsuits: A pediatric dentist at your clinic is sued for slander a competing dentist and their practice.
- Cyber attacks: A hacker breaches your online appointment system and steals confidential financial and medical information about your patients.
Pediatric dentist insurance coverage highlights
Pediatric dentist insurance policies can provide a wide range of coverage. However, it ultimately depends on the coverage you choose to include with your policy. Below is a breakdown of some of the most common coverages included with pediatric dentist insurance policies.
- Professional liability insurance: Professional liability insurance, also known as malpractice insurance or errors and omissions insurance, is mandatory as clients depend on their advice, recommendations and work of pediatric dentists. This type of coverage will pay for legal fees (e.g. defence costs, settlements, etc.) if a claim of negligence, error, omission, misconduct, or failure to deliver an advertised service is brought against you or your clinic, regardless of the lawsuit’s outcome.
- Commercial general liability insurance: Commercial general liability insurance, sometimes referred to as “slip-and-fall insurance,” protects against the day-to-day risks that come with operating a pediatric dental clinic. With this type of coverage, your clinic may be compensated in the event of a third party property damage or bodily injury claim. Specifically, your insurer may cover the cost of medical expenses, repair bills, legal fees, and more up to the policy limit.
- Product liability insurance: If your dental clinic sells products, such as toothpaste, toothbrushes, dental flossers, etc., then product liability insurance might be important. Even if you didn’t have a hand in manufacturing these products, you could still be held liable if a patient buys a product from you and it later causes bodily injury or property damage. But with product liability insurance, your insurance company might cover you in the event of a lawsuit.
- Commercial property insurance: Safeguard your pediatric dental clinic against unforeseen incidents like theft, vandalism, fire, water damage, etc. with commercial property insurance. When you add commercial property coverage to your pediatric dentist insurance policy, your insurance company may pay for repairs or replacements if your clinic or its contents are stolen or damaged due to an insured peril.
- Cyber liability insurance: If your pediatric dental practice stores confidential data online (e.g. patients’ medical histories or financial information), then cyber liability insurance is important. With cyber liability coverage, if a hacker steals sensitive data, your insurance company may help cover the associated costs, such as credit monitoring, crisis control, patient notification, and more.
- Sexual misconduct insurance: A single claim of sexual misconduct can have serious repercussions for your entire practice. Sexual misconduct insurance can help pay for the legal expenses associated with defending your clinic or a specific employee against allegations or claims of sexual harassment or any form of sexual abuse.
The cost of insurance for pediatric dentists
If you are considering purchasing pediatric dentist insurance, then you might be wondering about the cost. One of the most important considerations for any policyholder is how much the policy will cost them. Ultimately, insurance companies are responsible for determining policy premiums, and they do this by assessing risk.
To assess risk, they take into account a wide range of factors. For example, an insurance company may ask about the location of your pediatric dental clinic practice, the specific services offered at your clinic, your years of experience and training in the field, the annual and projected revenue of your clinic, the number of employees at your clinic, and your insurance claims history. In addition to this, the final cost of your pediatric dentist insurance policy will also be influenced by the coverage types, limits, and policy deductibles you choose.
To find out how much pediatric dentist insurance will cost you, contact ALIGNED. An expert insurance broker can explain how insurance premiums are calculated for pediatric dentists and provide you with an accurate and competitive quote.
Please note that insurance premiums are set by insurance providers, not brokers. Therefore, an insurance broker cannot influence your rates. However, they can help you shop around for pediatric dentist insurance, compare rates, and walk you through the process of modifying a future policy or filing a claim.
Get ALIGNED with top-notch pediatric dentist insurance
Are you ready to ALIGN your clinic with quality pediatric dentist insurance? We are here. Get started now by giving us a call and speaking directly with an ALIGNED insurance broker. A friendly and knowledgeable ALIGNED broker will be happy to answer your questions and take the time to understand your unique needs. From there, we will shop around on your behalf to find you the best possible coverage at the lowest possible price.
So sit back, relax, and let us take care of everything. We’ll get back to you with some fantastic policy options in no time.
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