If there were a fire, storm or earthquake that damaged your practice, would you be able to manage without income for a time? Comprehensive insurance coverage can protect your income and dental equipment.
Your dental practice is the cornerstone of your career – you need to have it up and running in order to treat your patients, maintain your staff and earn a living doing what you love. That’s why it’s critical to take steps to protect your practice against unexpected events that can jeopardize the continuity of your work.
And while having insurance in place is one thing, having enough coverage is equally crucial – you don’t want to be underinsured and have to cover damage, new equipment or income gaps out-of-pocket.
Here are five ways the right insurance plan can protect you:
- Against business interruption
Should your practice suffer damage from an event such as a fire, storm, vandalism or burglary, chances are you won’t be able to immediately relocate your practice – your ability to treat patients will be interrupted at least for the short-term, and possibly longer. A comprehensive insurance policy can help protect your income in the event of practice interruption, covering fixed expenses and reimbursing you for loss of income (dental or non-dental related services) up to a maximum of 12 months.
- To replace or repair valuable equipment
You have invested a great deal in the equipment needed to effectively run your practice and treat your patients. For an additional premium you may purchase the Equipment Breakdown Option and should your equipment unexpectedly break down or experience damage due to fire, theft, vandalism or other insured hazard, your insurance plan can repair, replace or reimburse you for the value of your equipment.
- To restore or recover office contents
From supplies to medication, furniture to artwork, the contents of your practice are extremely valuable – and potentially quite meaningful to you personally. A comprehensive plan provides for repair of your contents – and if repair is not possible, replacement or reimbursement are offered.
- To cover liability claims
Anything can happen on your premises. A supplier could trip and fall on your steps. A patient could trip over an electrical cord. An assistant could suffer a puncture wound. Any of these situations have the potential of resulting in a costly liability claim.
An insurance plan that comes with commercial general liability coverage can cover legal costs and damages if personal injury to others (or damage to a third party’s property) arises out of your dental practice.
- To reconstruct patient records
Your patients’ records are essential for the continuity of their care and operation of your practice. Imagine if they were damaged or destroyed and you were required to recreate them? Insurance can provide coverage to reconstruct your records after a loss.
While COVID-19 has disrupted daily routines, life goes on – and so do the day-to-day risks that go along with it. You’ve worked your whole life to build your practice – protecting it from the unexpected is essential to keep it running smoothly.
CDSPI TripleGuard™ Insurance can help protect you and your practice against business interruption, loss or damage to equipment and contents, as well as liability claims. To learn more about the plan, or to adjust your current plan, contact CDSPI at 1.800.561.9401 or insurance@cdspi.com.
TripleGuard™ Insurance is underwritten by Zurich Insurance Company Ltd.
The information contained here is a summary only. A full description of coverage and eligibility, including exclusions, restrictions and limitations can be found in the Policy Terms and Conditions governing each plan.