The contemporary landscape
General liability insurance is designed to protect a business against claims brought by visitors who are injured on the premises in accidents that are not related to a dental procedure. Whether there are patients or vendors coming to an office, a business may be held liable for personal injuries. A visitor can trip on the walkway of the premises owned by the practice or be injured in a slip and fall accident on a spill in the office’s bathroom. In any
Although some states require dentists to carry medical malpractice insurance, medical malpractice claims are common. Without proper coverage, a practice will be forced to pay
Commercial Property Insurance
For most dentists, equipment represents a significant investment which must be protected from unexpected events such as fires,
Depending on the size of the practice, state law may require the business to purchase workers’ compensation insurance, even those who have only one employee. In sum, this is no-fault insurance that prevents the business from being sued by an employee who suffers a workplace injury.
Business overhead expense (BOE) insurance, also known as business expense Insurance, is an essential type of disability insurance to cover dentists in the event that they become disabled. Designed for practices that depend on a small number of individuals to produce income, such insurance takes care of the overhead expenses of running a dental office so that the office can remain in business even when
There are three restrictions to BOE that should be noted:  there is a waiting period (known as an “elimination period” of 30, 60, or 90 days before the BOE kicks in 
Most dentists are unaware that people in their 20s have a one in four chance of becoming disabled before they reach retirement age, whereas their chance of dying during the intervening years is only one in six (for men) and one in nine (for women). Also, many professionals are surprised to hear that, according to statistics, most disabilities are not the result of catastrophic accidents, but rather caused by common chronic conditions like back pain. This means that it makes good sense to have disability insurance as well as life insurance. Also, while BOE benefits are paid for a limited period of time (at most a few years), disability insurance payments usually run to age 65, assuming the recipient can prove continued disability.
There are two types of disability insurance: short-term and long-term. Short-term policies generally replace 80 percent of the recipient’s gross income for a short period of time, such as during recovery from surgery or an accidental injury and only have a short waiting period.
Long-term disability policies, on the other hand, cover a smaller
Life insurance, of course, has another purpose altogether. It provides a lump sum payment to survivors in the case of the practitioner’s death. Though very few people expect to die young, the reality is that some of us will, which makes having life insurance necessary to protect one’s loved ones from potential financial catastrophe.
Having a successful dental practice requires not only attracting and retaining