What is Dental Malpractice Insurance?

Dental malpractice insurance, sometimes referred to as professional liability insurance, is an essential component dental practices need in order to protect themselves against the innate liabilities that come with the territory. Once you decide to take the step towards owning your own practice or even being a partner in one, you need to understand the risks that are inherent to practicing. Many dentists do not have the time and resources to defend a malpractice claim, and who wants to do that any way? Your time and money are valuable, and we understand what it takes to run a practice. When looking for coverage, seek out the best dental malpractice insurance and seek out Hankoff Insurance Group.

Why do I need Dental Malpractice Insurance?

There are so many reasons why a patient might sue a dentist for malpractice. Many of which are complications that can result from a routine visit. Tooth extractions may cause nerve damage, perforation of the sinus membrane, and infections that go undiagnosed. Complications may arise from the use of anesthesia or performing root canals. Informed consent from the patients may be missed. A failure to diagnose gum disease, oral tumors, and cancers can cause issues. Infections and tooth decay can occur with an ill-fitted crown. Many patients can have unexpected or adverse reactions to drugs administered for treatment. Slip and falls accidents may happen and cause injury to patients in the office. Complications can arise from dental implants, bridges, or crowns. There can be a failure to refer a patient to a specialist and, God forbid, a death occurs.

Without dental malpractice insurance, dentists can find it impossible to defend themselves against the many lawsuits that can occur. Even when a malpractice claim is dismissed in court, there are costly fees associated with legal expenses and court costs. If you are not covered, this money comes out of the business and your pocket. Dental malpractice insurance covers attorney expenses, trial fees, and court costs.

Dental Malpractice Insurance Cost

There is no one size fits all policy when it comes to dental malpractice insurance. The cost largely varies based on how long you have been practicing, the type of policy you have, where your practice is located, and whether you add additional coverage to your policy or not. Dental malpractice insurance rates vary, but we will ensure that you get the most appropriate and cost-effective policy for your practice without sacrificing necessary coverage.

Types of Dental Malpractice Insurance

• State Patient Compensation Fund – Some states such as Pennsylvania, Wisconsin, Kansas, Indiana, Louisiana, New Mexico, Nebraska, South Carolina, and New York have provisions which limit liability of physicians and dentists in the case of a malpractice lawsuit. Dentists generally pay an annual amount to participate. This doesn’t replace the need of a malpractice policy but does protect when the claimant demands large sums of money. Each state has different rules and regulations.
• Occurrence Malpractice Insurance Policy – Events that occurred when the policy is in effect are covered, whether or not you have canceled coverage since then.
• Claims Made Malpractice Insurance Policy – This policy only covers you while the policy is in effect. So if you have a claim made against you but no longer have coverage, you will not be protected even if the claim is from a time when you did have coverage.

Dental Malpractice Insurance Limits

Dental malpractice insurance limits are the maximum amounts of money your policy will pay to defend you in a claim, indemnity legal judgments, or pay settlements. The amount of your coverage and necessary dental malpractice insurance limits depend on the size of your practice and risk level. If you specialize in hazardous treatments, you may need more coverage. However, if your practice only performs generally routine treatments, you may need lower dental malpractice insurance limits. We make sure that you are in the right policy for your current needs. Whether you are already insured and require a review or you need a new policy, we’ve got your back. Murphy’s Law states that what can go wrong will go wrong. We hope not, but don’t take your chances. Get the right dental malpractice insurance plan today!