Every dentist should carry a dental liability insurance policy. This form of insurance is more often known as dental malpractice insurance. Malpractice insurance is a way for medical professionals to protect themselves, their practices and most importantly their families from the high cost of defending a lawsuit and paying for claims out-of-pocket.

Today’s society is extremely litigious. Lawsuits are filed every day over seemingly unimportant things, and many of them are indeed spurious. A defendant must still pay to defend a groundless lawsuit, however, and the cost can be enough to bankrupt even the most prosperous. Dentists belong to a handful of professions that are extremely prone to lawsuits. If an unhappy patient decides a cavity was not filled correctly or that he or she experienced too much pain, a lawsuit may be the result.

A dentist malpractice insurance policy will protect a dentist from all lawsuits that allege professional negligence. A dentist who is covered by a policy will not have to pay to defend a lawsuit; nor will he or she have to pay any damages that may be awarded if the plaintiff should happen to be victorious. The only out-of-pocket expenses the dentist will have to pay are the cost of the policy and the deductible.

Many different companies offer dental malpractice insurance, and the policies vary widely in coverage and price. Both claims-made and occurrence policies are available. A claims-made policy will cover any claim made during the time the dentist was covered by the policy. An occurrence policy will cover claims whenever they are reported as long as the incident leading to the claim happened during the policy period. Claims-made policies are more common and tend to be less expensive. Dentists can also purchase prior acts coverage, which will provide coverage for acts which occurred before the policy went into effect.

The cost of a policy varies widely depending on geographic location, how many years of experience the policyholder has, the selected deductible, the coverage limits the policyholder chooses and prior claims history. Students and new graduates usually pay lower rates, as many companies will give large discounts for the first few years in order to get their business. A lower deductible and a higher coverage limit will increase premiums. Dentists who have had to file claims in the past will also have to pay more for coverage.

A dentist in the middle of his or her career can expect to pay a few thousand dollars a year for a dental malpractice policy with more than a million dollars of coverage. The price is a bargain compared to the cost of defending a lawsuit and paying for claims. All dentists should purchase a policy to protect themselves and their loved ones.

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