If you’re running a dental practice, it’s essential that you have dental practice insurance to be protected from any damage to equipment or property. By having dental practice insurance you can also protect yourself from costly overheads like legal expenses, loss of income and employers’ liability claims.
The protection provided by dental cover insurance extends to a variety of areas, including the practice’s building, its contents, and the everyday functioning of the business, for which you may be held responsible in the event of any unforeseen circumstances.
Below is a handy table to assist you with what you must have and what you should consider.
| What must I have? | What is this? | What else should I consider? | Why should I consider this? |
|---|---|---|---|
| Public Liability | This will protect your business if a member of the public or patient is injured on or around your premises for which you are responsible. This can cover the cost of payouts and legal fees if your business is sued by a third party. This excludes staff. | Contents Insurance | Essential components such as all dental equipment (e.g., chairs, specialist equipment, computer equipment, machinery, stock and business money). |
| Employers Liability | Essential components, such as all dental equipment (i.e., chairs, specialist equipment, computer equipment, machinery, stock, and business money), will protect you from legal and compensation expenses if an employee makes a claim due to a workplace accident or injury. | Buildings Insurance | If you own the freehold of your practice, you will need to insure this. |
| Tenants Improvements | If you don’t own the freehold but are renting or leasing the building, then this is a worthwhile cover as it will cover any money you spend on improving or refurbishing the property (e.g., stud walls and suspended ceilings). | ||
| Equipment Breakdown | This covers unexpected breakdowns of essential equipment in your practice such as dental chairs, x-ray machines and imaging equipment. Insurance for this typically covers the cost of repairing or replacing the damaged equipment as well as any business interruption losses resulting from the equipment breakdown. | ||
| Business Operations | Business interruption cover helps to cover loss of revenue and expenses if you have to shut down due to an insured event. An example of this could be if a fire breaks out in the building and damages the practice’s equipment and facilities. The practice may need to close temporarily to make repairs and replace damaged equipment, leading to lost revenue and other expenses. | Employee Dishonesty (also known as fidelity cover) | |
| Legal Expenses | As a dental practice owner, legal expenses insurance can be a valuable investment to protect your business from the potentially high costs of legal fees in case of any legal disputes or claims. Legal expenses insurance covers the cost of legal representation, advice, and court fees, which can quickly add up and become a financial burden. With legal expenses insurance, you can have peace of mind knowing that you have access to legal support without worrying about the high costs. It can also help you resolve disputes quickly and effectively, which can ultimately save you time and money in the long run. | ||
| Rent Payable | If you are a leaseholder, this will ensure that your monthly rent will still be paid to the landlord if you are not able to trade at the premises due to an insured event (e.g., fire, flood, etc.). | ||
| Pressure Vessels Inspection | These are covered in the event of damage, explosion and legal liability at your practice but this DOES NOT cover the statutory inspection of the items that are required by law annually. This would include air compressors, autoclaves, stair and passenger lifts. | Annual maintenance contract | Like any item in your home such as a boiler and your car, it’s a good idea to have your pressure vessels enrolled in an annual maintenance contract to keep them working in tip-top condition. This is completely separate to the statutory inspection required by law. |
| Cover | Description |
|---|---|
| Cyber Cover | The types of data that you store at your practice can vary from simple, non-critical details to sensitive patient data; this is highly sought after information for a cyber criminal and claims for data breaches, data recovery, e-crime, and cyber extortion can run into hundreds of thousands of pounds. |
| Vicarious Liability | As an owner of a dental practice and an employer you can be held responsible for the negligent acts and omissions of an employee and/or associate. Vicarious Liability cover will protect you if a claim arises. |
| Practice Overheads | This type of insurance helps dental practices cover the costs of their overhead expenses in the event of a temporary or permanent disability of a dentist or dental practice owner. It is designed to provide financial protection for the practice by covering the ongoing business expenses that continue to accrue during a period of disability. It is important to note that this is not the same as disability insurance which provides income replacement for the dentist or practice owner. |
| Hands & Eyes | Dentist’s hands and eyes cover is a type of insurance cover designed specifically for dental professionals. It is often referred to as disability insurance or income protection insurance, and is designed to provide financial protection if you may become unable to work due to an injury or illness. |
| Cover Type | Bronze | Silver | Gold Recommended |
|---|---|---|---|
| Property Coverage | |||
| Employers Liability | |||
| Public Liability | |||
| Business Interruption | |||
| Vicarious Liability | |||
| Cyber Breach Response | |||
| Cyber Extortion | |||
| E-Crime | |||
| Loss of Data |
*Pressure Vessel Inspection is a legal requirement for all practices; the cost is unique to each individual practice. All Med Pro can arrange the inspection contract to run alongside your main practice policy for you.
