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Mistakes and errors in dental practice are sometimes inevitable no matter how careful, skillful, and great you are at what you are doing. There are different factors that can increase your risks of committing mistakes and errors. One of these major factors is lack of appropriate tools and devices that are used to enhance your work environments like the right lighting system or the correct precision instruments like the dental loupes.
In order to protect yourself from being sued for dental malpractice, it is critical that you get a good dental malpractice insurance. A dental malpractice insurance, also often called the liability insurance, will provide you coverage for claims related to incidents in which the patient suffers from injury due to misdiagnosis, mistreatment, and other dental mistakes.
More than acquiring an insurance policy, picking the right company is one among the most significant decisions that you will ever make in your entire career. But with a large number of companies offering various dental malpractice insurance, how can you be able to choose the right one? Below are some helpful tips that you can use to find the right insurance company.
Know the company
Before you look at the premium costs, check the fiscal soundness, sensitivity to policyholders, rating, and claims handling of the company first. See to it that the company has strong financial strength and stability rating or M. Best & Co. rating. If the company has a very good rating, you are assured that it has the ability and capacity to pay claims.
Does the company specialize in coverage for dental professionals?
Many insurance companies offer dental malpractice policy as just an offshoot of their other surgeon and physician malpractice insurance services. Pick the company that focuses on your specialty and the company that specializes in dental malpractice insurance and other coverage for dentists. Choose the carrier that does not only possess a strong claims history but also knows dentistry really well.
Does the company offer credits for risk management and claims-free experience?
If the company offers credits for risk management and claims-free experience, such company can be a good option. You can use these credits to considerably reduce your premium in the long run. Whilst, a high-quality management program can help minimize your risks for claims.
Compare different policies
When comparing policies from different companies, do not just focus on the least expensive option or on which company offers the highest coverage amount. Also consider things like cyber liability coverage, free tail at retirement, and DPR defense coverage, among others. Pick the insurance company with a strong policy.
Ask for suggestions and recommendations from your colleagues
It is also a wise idea to talk to some dentists who have experienced filing for claims with the specific carrier so that you have an idea what to expect and in order for you to know if the carrier is worthy for your trust and investment.
Ask your colleagues if they can suggest any company. Don't forget to ask them to share their personal experience with such company and if they are satisfied with its ability and willingness to pay claims or to defend on time.