It can feel challenging when an insurance premium increases. Some things that raise the cost might be expected, like if you expand your dental practice. But others are out of most policyholders’ control, like an increase in wildfires, delays in construction and rising property repair costs.
At TDIC, we don’t raise rates as a knee-jerk response to past claims. However, we do review several factors before increasing future rates. TDIC analyzes our data to determine how much premium will be needed to cover claims in the future, taking into consideration: What is the frequency, severity and likelihood of future claims where you practice? Is the dental market, economic climate or a technological trend causing replacement costs to rise? We’ll use that data to inform our rates and keep pace with the level of protection our policyholders will need.