Dental clinic: what to do?
If you lose access to your practice due to the extent of the damage or for safety reasons, we recommend that you immediately make an arrangement with your telephone company to transfer your calls so that communication with your patients remains uninterrupted. If possible, make an arrangement with a colleague so that patients who need emergency treatments can be seen by you or your colleague at your colleague’s office. In the meantime, renting equipment and office space, which can help reduce losses of income payable by the insurer, is usually covered by insurance.
If your insurance contract includes this benefit, the amount of compensation you’ll receive for the income you lost from work disruption cause by a covered loss will be assessed according to the following documents:
- the most recent financial results available (in most cases income statements from the past fiscal year);
- the current appointment book.
For example, if your annual income is $100,000 (after deducting laboratory fees) for 50 weeks of work, the value of a lost week will be $2,000 ($100,000 ÷ 50 weeks), and if you work an average of 30 hours a week, one lost hour will equal $67 ($2,000 ÷ 30 hours). Expenses that are not accruing, such as salaries, if you lay off your employees while the damage caused by the accident is being repaired, will be deducted from this amount.
Also, pay close attention to the time it takes to repair the damage, because with standard insurance, the insurer will only compensate you for the period normally required to make the repairs. Any additional time required for delays caused by third parties (contractors, property owners, suppliers, etc.) is not covered, unless you have extended business interruption insurance.
It’s better to let specialized and recognized firms and experts assess the damage. These professionals and a claims adjuster will agree on the cost of replacing the dental or office equipment and the value of the repair work to be done to the building or your leasehold improvements. Make sure that your insurance amounts are high enough to cover the possibility of losing your whole practice, because unfortunately, approximately one or two practices are completely destroyed every year.
Remember that you are responsible for making your claims. The insurer will accept or refuse them through one of its experts.
Whether it’s a fire, wind or water damage, vandalism or any other event requiring immediate intervention, contact us immediately. We will direct you to a claims adjuster available for assistance at all hours.
See Emergency Service section.
If the situation requires and you are unable to get in touch with the insurance company’s claims department, you must have the required emergency work done in order to minimize additional damage or protect access to the property. Be sure to keep the itemized bills as proof. Your insurer will be grateful to you and promptly reimburse you for your costs (provided the claim is covered).
In most cases, a claim will mean that you’ll lose the discount given to those who haven’t submitted claims in three, four, five or more years.
If your loss is small, we will let you know whether it is a good idea to submit a claim. Making a lot of claims is not popular with most insurers. That’s why it’s worth it to use your contract wisely and maintain a good record. If a larger loss occurs, that’s when the insurance really becomes useful and protects your assets.