Medical and dental offices need business insurance to protect against the unique risks they face, such as patient injuries, property damage, and legal claims. Insurance can also help offices comply with state laws and lease terms.
Although the exact insurance coverage may vary slightly from practice to practice, most dental offices in California need the following:
1. Professional Liability Insurance (Medical Malpractice Insurance)
This type of coverage is essential for any practice where healthcare services are provided. It protects healthcare professionals and the medical office from claims of negligence or errors in patient care that result in injury or harm.
For those who are dentists, dental malpractice insurance protects you and your practice by providing a legal defense and covering any judgments against you in cases such as poorly executed procedures, advice that resulted in negative outcomes for patients, or other situations where you were not at fault.
2. General Liability Insurance
Covers the medical office in case a patient or visitor is injured on the premises (e.g., slipping on a wet floor) or if there’s property damage caused by the business. It provides protection against claims of bodily injury or property damage.
3. Property and Casualty Insurance
This type of insurance is a must for any medical or dental office in California. Property insurance protects the physical assets of the medical office, such as the building (if owned), medical equipment, office furniture, and supplies, against risks like fire, theft, vandalism, or natural disasters.
Additionally, property insurance can include business interruption coverage, which provides compensation for lost income and ongoing expenses if the medical office is temporarily unable to operate because of a covered event.
4. Worker’s Compensation Insurance
This is typically mandatory for medical offices with employees. It provides coverage for medical expenses and lost wages if an employee is injured or becomes ill from their work. This type of insurance also protects employers from any legal expenses that may arise due to a work-related claim.
5. Cyber Security Insurance
Even though it’s not required, cyber security insurance is highly recommended for medical/ dental offices. It protects the medical office against data breaches and cyberattacks, which can compromise sensitive patient information. This coverage helps with the costs of notifying affected patients, legal fees, and restoring data.