How Much Coverage Do I Need?

How Much Coverage is Enough?

Dental malpractice insurance policies offer a range of limits. Determining the level of coverage needed for your practice is an important decision. Remember, you are ultimately protecting your reputation, your practice, your patients, and your financial well-being.

Coverage limits are stated with two figures:

  • The first number refers to the coverage limit for a single claim.
  • The second number is the aggregate limit of coverage during a policy period (typically one-year policy period).

You want to consider the following:

  • How much money may be needed by a patient who was inadvertently injured as a result of treatment, as well as enough coverage to protect your other patients, your practice and your financial future.
  • Lower policy limits can affect the outcome of a case. Lawsuits are often a process of negotiation and compromise, and if your policy limits are inadequate to negotiate a settlement, it can become a barrier to reaching a successful outcome. Low policy limits can also expose your personal assets during a malpractice suit.
  • Your employer may require you to have policy limits similar to others in the practice.
  • Your accountant, lawyer or other business advisor's opinion about how much coverage you need.

No matter what limits you select, remember to review your coverage each year. You may need to periodically make changes as your practice grows and to keep up with inflation.

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