Bowman Insurance and Benefit Services

Property Insurance

Property insurance will protect an office’s contents.  If a dentist also needs to insure the building, property insurance can be written to include the building.

Features of Property Insurance

Blanket Limit

Requesting a blanket limit provides more effective coverage.  A blanket limit applies coverage over more than one category of property coverage.  Conventional property coverage is often scheduled, offering individual limits for each type of property insured.  If there is a loss in any single category that exceeds the limits for that category, the limit is the sole and exclusive amount reimbursed.

A blanket limit gives a dentist much more flexibility, providing combined limit of insurance on certain property coverages:

Operatory and Office Equipment protection pays to repair or replace destroyed or damaged property due to a covered cause of loss on a “new for old” basis without deduction or depreciation.

Operatory Records, Patient Charts, and X-rays pays the cost of replacing office or professional forms, tapes, or discs, which are damaged, destroyed, or stolen due to a covered cause of loss.

Valuable Papers Protection pays the cost of research, including patient re-examinations and reproduction of those forms.

Accounts Receivables Coverage reimburses you for uncollectible receivables resulting from a damage to or destruction of records.

Glass Coverage pays the cost of damage for all glass, except art windows, from a covered cause of loss.

Practice Income Protection

Valued Practice Income provides a daily income due to covered damage to property.  (You set the daily amount and the number of days)

Actual Loss Sustained income coverage pays additional benefits if documented loss exceeds the selected valued daily limit.

Extended Practice Income will provide a supplement to the practice income for a certain period.  Following a loss, repair, and reopening of the practice, income may not be equal to what it was before (considering a representative period).  Therefore, extended practice income supplements the income to bring it up to the level it would have been, had no loss occurred.

Off-Premises Power or Water Interruption provides for loss of income due to utility failure (for a covered cause of loss).

Extra Expense provides coverage for expenses incurred in resuming the practice as soon as possible following a loss, including unusually high “urgent” expenses such as air freighting charges for new equipment.

Employee Dishonesty covers loss arising out of dishonest acts by employees.

Dentist’s Electronic Equipment coverage provides protection for your computer hardware and software, phone system, x-ray and other electronic equipment from direct physical loss.

General Liability

For dental professionals, General Liability refers to commercial general liability, which is sometimes called “slip, trip, and fall insurance.”

General Liability covers the business’ exposure to a variety of general problems:

Advertising Injury – specifically covers you in the event of a claim involving malicious prosecution, false arrest, detention, imprisonment; wrongful entry or eviction, or other invasion of the right of privacy, assault, battery, mental shock, or advertising offenses such as violation of copyright.  It also includes oral or written publican of material that slanders or libels goods, products, or services.

Water and Fire Legal Liability Coverage – covers you against claims from your landlord for fire and water damage to space occupied by and caused by you or your employees for whom you are responsible.

Medical Payments Coverage – protects you against claims for reasonable medical expenses necessitated by accidents on your premises, regardless of who may be at fault.

Medical Waste Defense Coverage – reimburses you for your defense if you are sued for improperly disposing medical waste.

Non-owned or Hired Automobile Liability – covers claims when your employees use their own cars on your business (such as an accident while on an errand or trip to the bank).

There’s a possibility that something could go wrong and could fall under professional liability or general liability.  Having one policy that includes both—instead of two policies from two different insurance companies—means that no one is going to argue over who pays what.  It just gets paid.  No headaches or bickering required.