The Importance of Professional Liability Insurance for General Dentists
Liability insurance is a very popular component in the business world. With that in mind, it includes general dentists. Having liability coverage protects your profession from unsightly expenses caused by lawsuits, non-compliance issues, court costs, defense attorney services, and more. HMBD Insurance Services use Fortress Insurance Company to offer superior professional liability insurance for general dentists at affordable rates with exceptional coverage.Dealing with lawsuits is a costly process and you will definitely experience them, whether you are a pro or not. Fortress is a provider with highly experienced, licensed agents that know the ups and downs with liability insurance and will help you get through the process when you need it.
Accidents can very well occur while performing dental work, but patients can also misunderstand what they are getting too. They also might think you can work miracles. They can also get confused as to why you need several visits to complete their oral care. They stop coming before you are finished and then experience health problems from it and in turn, they blame you.
All these scenarios lead to litigation, accusations, and oftentimes lead to lawsuits. These are the main reasons that professional liability insurance is vital to your successful career.
General Dentistry: Individual or Group Policies?
If you have your own office and work alone without other dentists, then individual professional liability insurance is what you need. It is essential to cover all liability claims and other issues that arise.
However, you may be joining an existing office with many professionals. In that case, you may have a group policy. Sometimes, the office does not offer insurance and you will need to get your own, but most of the time; they have a group policy that you can join.
Both carry the same benefits, except group policies often have lower rates since they involve several dentists. HMBD Insurance Services in conjunction with Fortress offers both options for general dentists, and HMBD also offers other liability insurance for dental surgeon professionals through OMSNIC (Oral Maxillofacial Surgeon National Insurance Company).
Situations that Require Dental Liability Insurance
If you are a new dentist, you may not realize the potential for costly expenses that dramatically affect your budget. You also may not realize that you actually need professional liability coverage. One thing you definitely do not want to do is wait until a claim is filed against you. At that point, you may not get insurance and will spend years recovering from the damages.
Some common situations that require professional liability insurance include misunderstood patient history that leads to health issues, improper data records that put you at risk, misunderstood patients that sue you, etc. The list could go on and on.
Many States Require Professional Liability Insurance
A lot of states mandate that you have professional liability coverage, but some do not such as Arizona and other states put capped limits on claims. Whether dental liability insurance is required or not, it is essential to have. An $11,000 lawsuit will set you back a bit. And two or three could possibly put you out of business, depending on the settlement or judgement terms.
Upon acceptance of a policy, you receive a certificate of liability insurance. This is your receipt/proof of insurance coverage and can be required by local and state enforcers, or even for applications to get into other organizations.
For both scenarios, professional liability insurance is definitely important to have. HMBD Insurance Services and Fortress Insurance Company deliver superior packages for great protection against malpractice experiences and will also help save your budget from unforeseen circumstances.
• Professional Liability Insurance for Solo Dentists & their Corporations
• Professional and Business Liability Insurance for Dental Groups
• Professional Liability Insurance for Oral Surgeons & their Corporations
• Employment Practices Liability Insurance for Dental Facilities
• New-to-Practice Discount
The #1 Decision To Make In Choosing Dental Malpractice Insurance
Knowing what your dental liability insurance covers and doesn’t cover for your dental puts your reputation at risk for Malpractice. Your livelihood is at stake when you don’t understand the ins and outs of the liability insurance you signed up for after you finished Dental School. Even if you did cover your insurance recently, do you know if any of the policies can be cancelled at anytime by your current insurance plan?
This free short 2 minute read will help you understand the truth about dental liability insurance plans.
This short 2 minute read will help you:
• Understand the Importance of Choosing the Right Malpractice Insurance Agent.
• Determine If You Need to Re-Evaluate your Liability Coverage.
“ I really like the communication with HMBD Insurance. Ted and his team are always quick to
respond and very helpful. It’s something that I value because of my busy schedule. ”
Dr. Brian Martin, DDS
“ Ted and his team helped us with our office package policy, risk management, and a question about a hospital application all in the same conversation. They also followed up on another issue that I was tardy in getting an answer back. VERY PROFESSIONAL! ”
Dr. Leighty, DDS
“ Timely responses to request… VERY HELPFUL! Total WOW experience with Ted and his team’s insurance knowledge and expertise! ”