Average cost of malpractice insurance.

[Mazz]

Why is it impossible to find out what the average cost for dental malpractice is? I dont want an exact figure, give me a ball park figure.

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[teeth63a]

Why is it impossible to find out what the average cost for dental malpractice is? I dont want an exact figure, give me a ball park figure.

It depends what are you live in, how much insurance you want and what your history as a dentist is (ie have you been sued before).

In my location (Hawaii), for a 3 million dollar policy for each occurence/claim of Professional and Business liability, one would expect to pay about $1500-2000. I believe 3 mil is the "average" coverage amount.

Ask local dentists in your area that you feel comfortable talking business with you.

 

[mrlantern]

It depends what are you live in, how much insurance you want and what your history as a dentist is (ie have you been sued before).

How high can your premium get for serious procedural negligence?

 

[godbless]

Why is it impossible to find out what the average cost for dental malpractice is? I dont want an exact figure, give me a ball park figure.

So what was the outcome of your research if you dont mind sharing?which malpractice insurance did you end up with?

 

[KinKs]

It depends what are you live in, how much insurance you want and what your history as a dentist is (ie have you been sued before).

In my location (Hawaii), for a 3 million dollar policy for each occurence/claim of Professional and Business liability, one would expect to pay about I$1500-2000. I believe 3 mil is the "average" coverage amount.

Ask local dentists in your area that you feel comfortable talking business with you.

I assume that is $1500 to $2000 per month. How does this compare to Canadian rates.

 

[teeth63a]

I assume that is $1500 to $2000 per month. How does this compare to Canadian rates.

No, for the year.

 

[teeth63a]

How high can your premium get for serious procedural negligence?

That, I have no idea. And I hope never to know.

 

[UDM 2008]

Mine was about $625 my first year and $1100 the second year with Fortress. Should max out at about $2000/year at year 5. This is for 1,000,000/3,000,000 coverage.

 

[DaBears13]

Dentists I work for pay between 1500-2000

 

[Tooth]

What about if you want to do surgical third molar extractions? Do your rates go up just for that? At this point, I'm not talking about using IV sedation, or even oral sedation. Just using that halls handpiece or other surgical handpiece under local anesthetic.

Does it go up with oral sedation or just with IV sedation? I've heard IV Sedation can bump it up to $40K a year but I don't know if oral sedation makes it go up at all.

 

[Daurang]

Professional liability starts about $600 the first year and gradually increases to about $1600 over 10 years.

 

[alm69]

I was quoted $120 for my first year out with EDIC. Go to edic.com. They only serve dentists in a few northeastern states and offer new dentist discounts for your first few years out in practice.

 

[Tooth]

Do your premiums increase for surgical third molar extractions under local anesthetic?

Does the use of oral sedation increase premiums?

 

[fmx89591277]

I was quoted $120 for my first year out with EDIC. Go to edic.com. They only serve dentists in a few northeastern states and offer new dentist discounts for your first few years out in practice.

that $120 is one year or one month? for me $120/year is too cheap.

the insurance is claim made or occurence?

thanks

 

[Cold Front]

I pay $299 quarterly for $1m/$3m.

Entering my 5th year in practice.

 

[Firm]

I pay $299 quarterly for $1m/$3m.

Entering my 5th year in practice.

Who do you use? I've been paying +$4000/yr.

 

[Cold Front]

Who do you use? I've been paying +$4000/yr.

PSIC (professional solutions insurance company).

 

[fmx89591277]

I pay $299 quarterly for $1m/$3m.

Entering my 5th year in practice.

is that occurence or claim-made?

thanks

 

[Contach]

I was told by a malpractice rep who came to do a talk, that the average in the PA/NY area is about 5000 / year. And if you are an OMFS, about 15 000 / year.

He said the PA/NY area was the most litigious area in the nation. I'm assuming this includes NJ.

 

[beannaithe]

I'm in PA, currently paying $2200/year for $1mil/$3mil, occurrence policy. I still have my 'new grad' discount so I think it should level out at ~$3000 in a few years.

Contach's right about the PA/NYC area having higher premiums. I believe the payouts in this area tend to be higher due to no (or very high) caps on the payout amounts.

 

[fmx89591277]

I got a quote (new dentist) $300/year for $1mil/$3mil, occurrence policy in Illinois from Medpro, without implant, N2O, and conscious sedation . it looks too cheaper to be true? !

 

[Cold Front]

I got a quote (new dentist) $300/year for $1mil/$3mil, occurrence policy in Illinois from Medpro, without implant, N2O, and conscious sedation . it looks too cheaper to be true? !

MedPro is a company owned by Warren Buffett, therefore it is a very secure company and has the highest insurance rating (A++). The reason it's so cheap is because you won't do n2o and much dentistry your first 12 months of your career, compared to later years of your career. I pay $1,200 a year and do n20, and see about 30 patients a day.

I would take the quote.

 

[fmx89591277]

MedPro is a company owned by Warren Buffett, therefore it is a very secure company and has the highest insurance rating (A++). The reason it's so cheap is because you won't do n2o and much dentistry your first 12 months of your career, compared to later years of your career. I pay $1,200 a year and do n20, and see about 30 patients a day.

I would take the quote.

Thank you very much! I just cannot believe my malpractice is so cheap since others pay 1000+ for malpractice insurance.

 

[Glimmer1991]

Well, this thread makes me feel good... I've always heard that having to pay for malpractice insurance really stunk, which is true... but these figures aren't bad at all compared to what I *thought* it might be. I was assuming somewhere between 5k-10k.

 

[beannaithe]

Thank you very much! I just cannot believe my malpractice is so cheap since others pay 1000+ for malpractice insurance.

It's a newbie quote, mine started out at $450. MedPro will go up over the years as you stay contracted with them. Definitely worth it though. I've been very, very happy with them.