TripleGuard™ for Associates and TripleGuard™ for Practice Owners protects you in three important ways:
Protection for your dental equipment, contents and leasehold improvements.
Replacement of lost income from interruption due to practice damage; and
Insurance against commercial liability lawsuits.
All in one convenient, cost-effective package.
How TripleGuard Protects Your Office
TripleGuard allows you to purchase insurance amounts that meet your specific coverage needs. Additionally, the Building Insurance option is available with TripleGuard Insurance for an extra premium and separate application.
TripleGuard for Associates provides fixed amounts of office contents and commercial general liability coverage that meet most associates’ needs, at an economical premium while practice interruption coverage is based on actual loss sustained. See 1B for office contents coverage for the TripleGuard Insurance Associate Package.
1.A - Office Contents Coverage for the TripleGuard Insurance Practice Owner Package
EQUIPMENT BREAKDOWN OPTION: Choose additional protection
For an additional premium, you can cover mechanical or electrical equipment such as patient chairs, X-ray equipment, copiers and more, for repair or replacement needed due to a sudden and accidental breakdown of the equipment due to an insured peril. Losses are paid up to the amount of your office contents limit subject to a $1,000 deductible. If equipment breakdown results in loss of income, you are compensated for loss after the first eight hours during which your business would normally have operated. (You are required to provide for regular inspection and maintenance of equipment as recommended by the manufacturer with a minimum annual inspection.)
Even if equipment in your office is under warranty, it’s wise to consider purchasing the Equipment Breakdown Option. For example, suppose a power surge damages the motor in your only dental chair, rendering it inoperable. Under the terms of your warranty, the motor may be repaired at no cost, but it may take a number of days before a technician can perform the work. You can’t practise until the chair is repaired. If you have purchased the Equipment Breakdown Option, you may receive a loss payment to help reimburse your income loss after the first eight hours of this downtime.
1.B - Office Contents Coverage for the TripleGuard Insurance Associate Package
Note: Associates are not insured under the TripleGuard coverage of the owner of the practice.
The TripleGuard Insurance Associate Package includes a fixed amount of $50,000 of office contents insurance, covering dental tools and equipment. Coverage includes items used at the office and located elsewhere — for example, equipment in storage.
Dental tools and equipment are covered for loss or damage resulting from theft, fire, vandalism, or other insured incidents. The insurer pays for repair or replacement, or you can choose to be reimbursed for the items’ depreciated value.
Coverage under the TripleGuard Insurance Associate Package comes with a $1,000 deductible.
2. Practice Interruption Coverage
3. Commercial General Liability Coverage
Conditions and Limitations
The insurer will not provide coverage for practices or buildings that are vacant for more than 30 days unless prior permission from the insurer has been obtained. Coverage does not apply to claims arising from damage to or misuse of data, cyber risks, contagious diseases, or to claims arising from terrorist acts or activities to prevent or respond to such acts. Lead, Silica or Silica Mixed Dust, Ammonia Contamination, mould/fungi, asbestos and other exclusions also apply. Details, terms, conditions and exclusions are set out in the Policy Terms and Conditions for the TripleGuard Insurance plan.
You are eligible for TripleGuard Insurance if you are a licensed dentist resident in Canada who is a member of the CDA or a participating provincial or territorial dental association. (As the Quebec provincial association does not participate, Quebec dentists must be members of the CDA to apply for coverage under this plan.)
Participants in the TripleGuard Insurance Associate Package must be an associate when applying for coverage.
Annual Premium Rates and Insurance Limits
Provincial taxes are extra where applicable under provincial laws. Your TripleGuard Insurance premium is based on the amount of office contents coverage required, and automatically includes unlimited practice interruption and $5-million of commercial general liability coverage.
Building Definitions For Determining Premium Rates
Fire-Resistive and Non-Combustible: Any building constructed entirely of non-combustible materials, e.g. steel.
All Other Construction: A frame building, a masonry building with brick or concrete walls and wood-joist roof or wood in floors, or a building constructed with any combustible materials.
Due to a greater earthquake risk, premiums are slightly higher in British Columbia earthquake zones.
If you have had three or more TripleGuard Insurance claims in the past three years, your deductible will increase to $2,500 for future losses.
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.