Registered Dental Assistant Insurance – Cost and Coverage

Whenever you budget the expenses of your business, Registered Dental Assistant insurance must be high on the list because you can’t always know exactly what could happen in the future.

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With the protection provided by liability insurance and all the other kinds of insurance we will tell you about, you can protect your business and yourself in case something unexpected happens.

Like any business owner, for your Registered Dental Assistant enterprise, you must consider how much financial risk you are taking on.

Business Insurance for Registered Dental Assistant

If your Registered Dental Assistant business runs without proper insurance, you are taking a tremendous chance not just of losing some money but of a total wipe-out.

This is because the laws in every state are very strict in enforcing liability on the owners of businesses for the upshots of their actions. 

In this article, we are giving very general guidelines for growing businesses to explain what the main kinds of insurance that you need are, and where possible, a rough guide to how much you can expect to pay.

The question is, can you afford to NOT have insurance for your Registered Dental Assistant business?

What this means, for any Registered Dental Assistant business owner, is that if some company claims that your actions caused them some physical or economic damage, a court can award damages far beyond the total size of your business.

Your Registered Dental Assistant business is not sheltered by laws in the same way as states are, where legislation can place a “cap” on the maximum level of liability.

In some states, like New Jersey, there are specific monetary levels that limit the amount a judge can award in any case against the state.

In a court case, it’s purely the duty of the jury to award whatever amount they deem appropriate, even sometimes giving a person more than they have claimed.

When you are running your Registered Dental Assistant operations, you can’t deny responsibility for the results of your actions.

Even more importantly, unless you have spent in advance the money necessary to have your business running as a limited liability company, all of that liability belongs to you alone.

What does Registered Dental Assistant insurance protect you from?

For your Registered Dental Assistant business, the most important kinds of insurance are designed to cover the risks to your business from accidents, from unexpected events, and from mistakes.

As well there are some legal kinds of insurance that various states require.

In the next few paragraphs, we will describe the most important points any Registered Dental Assistant business owner should remember when negotiating the insurance needed.

The main headings of insurance for your Registered Dental Assistant businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.

Liability insurance

General liability insurance

Any Registered Dental Assistant business is dealing directly with customers, and that means you generally have the danger that some accident can happen to them bodily or else something of theirs can be ruined.

In such a case, they can demand compensation.

General liability insurance policy for your Registered Dental Assistant business protects you against claims coming from injury to clients or damage to their property.

It protects your Registered Dental Assistant business from the claims themselves and also to any associated court costs and legal fees of the lawsuits.

In many cases, it should help you to qualify for extra business from city and state organizations, where contracts demand proper liability insurance.

The usual level of general liability insurance for your Registered Dental Assistant business would be with a cap of $1 million for a single claim and a total of $2 million for the whole year.

See the table in the costing section below for average prices of general liability insurance for your Registered Dental Assistant insurance operations.

Professional liability insurance for your Registered Dental Assistant business

In the event where a customer alleges some negligence, errors, or omissions in how you conducted your Registered Dental Assistant business for them, you can quickly be involved in a court case.

Even if the case against you is ruled in your favor, the cost of defense can be large, and the impact on your reputation can be damaging.

Almost all small Registered Dental Assistant business should have enough professional liability insurance to cover an individual claim of $25,000, with annual cover of $50,000.

See the table in the cost of Registered Dental Assistant insurance section below for average prices of professional liability insurance for your Registered Dental Assistant operations.

Product liability insurance

Whatever goods you sell or advice you give about the goods, you are running a risk that clients may claim that what they received didn’t meet your description of function, or that your advice was basically incorrect.

You need to know the particular laws of product liability in your own state.

For example, in California, all businesses in the supply chain can be held liable for injuries caused by products claimed to be defective.

To cover yourself against any following lawsuit, you need Product liability insurance for Registered Dental Assistant

Only you can determine exactly how much insurance you need.

Best advice is to consult with experienced insurance agents, brokers or company representatives for help.

Commercial insurance

Commercial vehicle insurance for your Registered Dental Assistant business

Be careful! – practically all policies for private vehicle insurance do not cover any happening like theft or accidental damage when the car is being used for business purposes.

The right way to make sure that your vehicle is insured for both its own value, and the valuable contents, is by taking out a proper commercial vehicle insurance package.

Commercial truck policies cover the value of any vehicle in case of accident, malicious damage, fire, or theft.

Also, in case of any accident, the van itself, the content and any legal bills, medical expenses, and property damage is guaranteed if your van is involved in an accident.

Most states, other than Virginia and New Hampshire, mandate this type of insurance.

The required value of the insurance depends on the depreciated value of the vehicle, and your declared level of cover of contents. 

Tools and Equipment insurance

Since your Registered Dental Assistant business needs unique and costly equipment, you know how much it can cost to replace it in case of any damage, loss, or theft.

The gear may be subject to malicious damage, deliberate fire, theft, other such unpredicted acts.

As well, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can wipe-out your whole business in one stroke.

Unless you can afford to immediately replace such unique gear quickly out of your own pocket, you should have full-level equipment insurance so that you can immediately buy everything needed to keep your Registered Dental Assistant business running.

It is hard to advise how much equipment insurance you need – it’s essentially dependent on how much you have invested in your Registered Dental Assistant business’ equipment.

Commercial Property insurance

Any Registered Dental Assistant business that owns or rents space in a building must have a commercial property insurance policy.

If you own the property, you may already have a substantial capital investment, in addition to a big liability if there’s a mortgage.

Any physical building location must carry insurance coverage for the value of the premises and contents against unexpected occurrences like fire and storms, and against criminal damages like theft and vandalism.

If your Registered Dental Assistant business works in areas of high risk, like California or Georgia, extra coverage may be needed for earthquakes and hurricanes or tornadoes.

In other states like Washington, where unlimited cold snaps can cause damage to outer coverings of Registered Dental Assistant business premises, there is a need for more additional cover than in warmer climes.

Although the level of cover depends mainly on the value of the property, it’s not possible to say what cover your need, but we have been able in the table in the cost of Registered Dental Assistant insurance section below to give some idea of the average prices per million dollars of property insurance for your Registered Dental Assistant business.

Temporary insurance by month, week or day for your Registered Dental Assistant business

Is your Registered Dental Assistant business working part-time or casually, or is the level of business fluctuating?

Using short-term insurance makes good sense. Business insurance by the month, day, or week – temporary insurance for Registered Dental Assistant – are special policies where you can cover a nominated period when you want to be covered.

By only paying for that period of cover, you will save by having lower premiums but still having identical risk cover.

The important feature of short-term insurance is that you buy the cover for a defined period – a specific date, or a week or month starting on a specific date, for example for 30 days beginning on the specified date.

When you are expecting periods of better business activity, get the existing cover increased.

Talk to your insurance agent, broker or the company’s representatives to see what options you have.

Business Owners Policy BOP for your Registered Dental Assistant business

You have the option to combine several of the important kinds of small business insurance in one policy that is known as the business owner’s policy – BOP.

A BOP merges commercial property and public liability insurance by incorporating these coverages into one insurance policy, which can save you money.

BOP insurance will protect you if any claims of injury or property damage are made.

It is mostly the right choice for small and medium-sized Registered Dental Assistant businesses, such as yours.

There are a few limits that will dictate whether BOP is suitable for your own business.

BOPs do not cover your professional liability or commercial vehicle risks.

Also, the size of your business will rule whether you are allowed to take out BOP cover.

The usual business that is allowed to take a BOP policy must have fewer than one hundred employees, and not more than five million dollars in annual sales.

As well, you must separately take out the mandated worker’s compensation, health and disability insurance as determined for your state.

Workers Compensation insurance for your Registered Dental Assistant business employees

In most states, it is mandatory to have workers compensation insurance when your Registered Dental Assistant business has one or more employees.

Workers compensation insurance covers the enterprise against any costs that arise if any hired hand experiences an injury or becomes sick as a result of work.

The benefits provide for medical expenses, death benefits, lost wages, and vocational rehabilitation.

Failure to meet a state’s regulations in this regard can leave you as the employer required to pay penalties levied by the states.

Some states, such as North Dakota, Ohio, Washington, West Virginia, and Wyoming only authorize coverage from the government-run monopoly state funds.

In these states, you can’t obtain your workers compensation obligations from private insurance companies.

Workers compensation rates are worked out based on the employee’s pay, and usually come out at around $1.00 per $100 per month.

However, you must consult the relevant authorities in your state.

Average costs of these types of insurance

Although every Registered Dental Assistant insurance need is unique, there are enough examples of standard quotes from insurance companies for us to give approximate guidelines, including what are the cheapest rates offered.

Of course, you should always check with an insurance representative what’s relevant for your business.

The list below is of annual premiums we have gathered for the main types of insurance your Registered Dental Assistant businesses needs.

Types of insurance Price range
Public liability insurance $275 – $560
Commercial vehicle insurance $1720 – $3415
Product liability insurance $335 – $725
Equipment insurance $400 – $1055
General liability insurance $770 – $905
Commercial insurance $1110 – $2460

Cost of insurance for your Registered Dental Assistant operations depends on many different factors.

We have calculated these figures for small freelance Registered Dental Assistant businesses.

In larger states like California, premiums are generally about 20%-30% higher than national averages, while in smaller states like New Mexico, they can be about 20%-30% less.

The location and size and type of your Registered Dental Assistant business can have a big effect on the cost of different policies.

You should consult with professional insurance agents and brokers, or insurance company representatives.

In addition you can let the internet do the work for you by searching for insurance companies near where your business is located.

Another useful source of information is the local Better Business Bureau in your city.

FAQ

What is small business insurance for Registered Dental Assistant operations?

This is a wide term used to describe common insurance policies designed to protect Registered Dental Assistant business owners from risks like bodily injury, property damage, claims of negligence.

Does my Registered Dental Assistant business have to have insurance?

Some of the types of insurance are not mandatory for you to operate your business, but they can protect you from risks in your business operations.

Certain other forms are required by state law, such as workers compensation and vehicle insurance.

What does a small Registered Dental Assistant business insurance policy cover?

Liability insurance provides protection against lawsuits or claims filed by a customer for bodily injury, property damage, or negligence.

The specific cover will vary based on your own operations.

See the table in the costing section above for average prices of the best policies for Registered Dental Assistant insurance.

How much will Registered Dental Assistant business insurance cost?

In addition to the size of the business, several other factors, such as location and claims history, are used to determine your policy’s cost.

You should consult with professional insurance agents and brokers, or insurance company representatives.

You can search for more information insurance for Registered Dental Assistant, in the search box below, and follow the relevant links.

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