If you are a dentist practicing in California, you know that malpractice insurance is not required by law in your state. However, to protect your assets and your employees’ livelihood, dental malpractice insurance is extremely important. In this blog, you’ll learn some tips for choosing the malpractice insurance in California that’s right for you and for your dental practice.
Choose a Reputable Insurance Carrier
American dentists–from general dentists to specialists such as endodontists–are sued at least three times in the course of their professional careers. So, when selecting a malpractice insurance provider, you need a carrier that provides top-notch coverage tailored to your patient volume, location, type of services you provide, and more.
How do you know which carrier is best? To answer this question, consult a highly trained insurance broker, such as eQuoteMD. You will receive information about the policy features right for your practice (personal liability, injury, medical payment limits, and more). Plus, as a broker that deals with only A-list insurance carriers, at eQuoteMDwe carefully shop for the most affordable rates without sacrificing the quality coverage you need.
Decide Between Occurrence Versus Claims-made Policy
Occurrence malpractice policies cover dentists during the term of the insurance policy, regardless of when the individual files a claim. In general, this kind of malpractice insurance costs more than claims-made policies.
Claims-made policies cover dentists only if the claim is made during the term of the policy. Typically, healthcare professionals and group practices purchase tail coverage if they are covered by claims-made policies. Tail coverage protects medical professionals if a claim occurs after the term of the policy. Tail coverage is important for dentists who change practices or anticipate retirement.
Choose a Malpractice Insurance Provider Who Will Keep You Informed
The malpractice insurance coverage you have now may not be adequate for your practice in five or ten years. Your patient volume may change. You may add employees or additional practice locations. Your services may become more specialized.
The right dental malpractice insurance provider will help you with risk management, optimizing patient safety, and more. In short, your best protection involves more than the malpractice insurance policy. It also involves the provider writing it and amending it as time goes on and your needs change.
Consider How Much You Can Spend on Coverage
Premiums for dental malpractice insurance can vary widely. Even still, you need the best protection you can afford. In other words, don’t jump at the lowest premium. Read the policy declarations carefully and ask your agent about anything that is unclear to you. Understand how much your premiums and deductibles cost ahead of any possible malpractice claims which could come your way.
The most common liability limits in the state of California are $1 million per occurrence and $3 million aggregate, or a combination of occurrences. That being said, California dentists must consider that the Medical Injury Compensation Reform Act allows no monetary caps on pain and suffering and other non-financial and non-physical losses suffered by patients who are claiming dental malpractice. So, dentists should talk about these issues with their prospective malpractice insurance providers in order to select the policies which would serve them best.
Reliable Dental Malpractice Insurance in California
As a dentist, you want to concentrate on delivering excellent patient care. That’s why our insurance experts at eQuoteMD are available to guide your decisions so that you end up with the best possible malpractice insurance at rates which fit your budget. We serve healthcare providers in all 50 states, delivering individualized policies with exceptional protection at competitive rates. Our advisors only deal with A-list companies, so you are assured of quality coverage.