The Right Policies for Every Stage of Practice

Students and New Dentists

Dental students generally don’t need professional liability protection until they have passed their board exams and are licensed to practice. This is because the dental school assumes the responsibility (and liability) for the care provided in an educational setting and during exams.

But coverage is still needed earlier than you may think! Professional liability insurance protects newly licensed dentists during working interviews and while volunteering. To make it easier for dentists who are just starting out, the cost of coverage in the first year is only $0 to $50, with significant discounts for years two and three.*

This is also the time to consider a disability policy. An unexpected injury or illness can happen at any stage of practice. You’ve made a substantial investment of time and money in your profession. Choose coverage now to ensure that in the event you need it, you have the freedom to focus on healing instead of financial stress.

Until you have employees or lease office space, no other policies are necessary at this stage of practice.

Associate Dentists

Frequently, new dentists begin their careers as associates or as employees of corporate practices. If you join a smaller practice that does not offer professional liability coverage, you will need to acquire a policy on your own. Typically, corporate practices provide professional liability insurance that only covers dentists while within their facilities. Many new dentists want the flexibility to gain additional experience by volunteering or also working outside of the corporate setting. In that case, they would not be covered by their employer’s professional liability policy. One option is to take advantage of low premiums and maintain a separate Professional Liability policy for flexible protection. The policy can be used as secondary, supplemental coverage to your corporate policy.

On average, new graduates who start in corporate practice will transition to private practice within six months to two years, so it can be advantageous to secure low-cost premiums when starting out to maintain consistency and competitive pricing through early- career transitions.

Practice and Property Owners

For those who have reached the stage of leading or partnering in a practice, it’s essential to protect the business and its assets with more robust coverage.

A number of additional policies are recommended or — depending on your state or landlord — required. In addition to Professional & Dental Business Liability, Disability and Health coverages, you’ll also need:

• Commercial Property insurance (Business Owner’s and/or Lessor’s Risk policies)
• Cyber Suite Liability insurance
• Business Overhead Expense insurance

To protect your employees and offset your risk as an employer, you should also have Workers’ Compensation insurance and Employment Practices Liability insurance.

Once you get ready to build your practice team, you’ll build your protection, too:

• Workers’ Compensation insurance
• Employment Practices Liability (EPLI) insurance
• Small Group Health coverage (practices of two to 49 employees)

Retired Dentists

Many dentists enjoy the flexibility of continuing to work limited hours or to provide care on a volunteer basis after retiring from practice. Naturally, if in retirement you continue to lease property or have a partnering interest in a practice, you will need to maintain most of the same policies listed above. On the other hand, if you have sold your practice and commercial property, your insurance needs are significantly reduced.

Should you choose to continue to practice in some capacity, it is important to maintain a Professional Liability policy to protect you from possible malpractice litigation. TDIC liability policies are written to provide coverage throughout the state in which you are licensed to provide care, which means you are not tied to a specific practice location so long as you remain within that state.

Volunteer Dentists

Know that you are covered as you generously give back. When volunteering, you are already covered by your TDIC Professional Liability policy for care given within the state where you are licensed. Should you want to offer volunteer services out of state, check with the charitable organization to see if it offers liability coverage. If not, reach out to a TDIC representative to discuss available options. 

If you are a retired dentist who practices or volunteers infrequently, TDIC offers liability insurance on a temporary basis, which can be cost saving if you don't require ongoing coverage.

When to Add or Change Coverage

What milestones within your dental career should signal you to add or adjust insurance policies? Consult with TDIC or request a free coverage review whenever you anticipate professional or life changes: 

• Graduating and gaining licensure
• Buying or selling a practice
• Hiring employees
• Changing a practice location
• Acquiring new dental equipment
• Purchasing or leasing new space
• Experiencing a disability
• Retiring

 Contact TDIC for guidance choosing the right type and amount of insurance for changing needs in your life and practice.

* First-year applicants must meet eligibility criteria. TDIC Professional Liability coverage premiums are $0 in AZ and IL, $50 in ID, TN, MT, OR, WA, AK, CA, HI, MN, NJ, NV, ND and PA. Premiums depicted are for new and never-practiced dentists, licensed within the last 12 months and are valid for $1M/$3M coverage amounts through our Claims-Made Policy. These premiums are not eligible for additional discounts. Premiums increase until a mature policy is reached. Applicants who are not eligible for $0 or $50 TDIC Professional Liability coverage premium listed above may be eligible for discounts up to 45% in year Applicants must meet eligibility criteria to qualify for premium discounts up to 45% in year 2 and 25% in year Premium and discounts may vary in WA.