Oklahoma City Dentist Insurance: Rating Malpractice Insurance for Dentists

Malpractice insurance is a no-brainer for practicing dentists. Because while your intention may be to always provide the best, error-free service to your patients, sometimes accidents and misunderstandings happen, and you need to be protected against that possibility.

There are many different factors that go into pricing the malpractice side of Oklahoma City dentist insurance. One of the most crucial factors is to consider the type of dentistry being practiced by the proposed insured. For instance, if you practice general dentistry versus a specialty that may involve conducting surgery or administering anesthesia, then you can expect a lower premium because there is less risk of incident. 

Claims history is another obvious factor in malpractice insurance pricing. A dentist with prior malpractice claims presents a higher risk than a dentist with no claims or one with claims that were inexpensive to settle. 

Your exposure to risk, as determined by the frequency of your hours, also has a direct correlation on the amount that you could be charged for malpractice insurance. If you practice on a part-time basis, you will find that your quote is lower than it would be if you practiced on a full-time basis. 

Luckily, the determination of malpractice premium rates is not a one-sided activity. There are many ways to achieve discounts on your malpractice insurance quotes. If you waive your right to consent to claims settlement terms and if you agree to pay your premium in full annually, you could find enough savings to make a big impact on your premiums.

You may be tempted to buy a policy with a high deductible and low claim limit as a means of saving money, but remember, if you do this you may reduce your annual premium expense but you are also putting your practice and career at risk. Any claims that fall below your deductible or above your limits will be your responsibility to pay, which could crush your financial future for the sake of just a small premium savings. Instead, allow your malpractice insurance to do what it’s intended to do—protect you, your career, and your financial future from potential liabilities.

Make sure you have the best possible option for your Oklahoma City dentist insurance policy with Alexander & Strunk today!

Oklahoma City Home Insurance: Homeowners Insurance Post-Divorce

There are a lot of difficult decisions that must be made after a divorce. One often overlooked item that should be reevaluated is your home insurance policy. Because while you may be in the same home post-divorce that you were pre-divorce, there have probably been enough changes around the property that a home insurance overhaul is needed. 

Reduce deductibles: If you have been divorced from a wage earning spouse, then you will be adjusting to living on less income than you were before divorce. But even if you divorced a stay-at-home spouse, your expenses may be higher now that you need help filling the roles that you relied on your ex-spouse to fill. This means that you have some budget changes to make and it may also mean that the deductibles you have are no longer suitable. Finding a deductible that you can afford that also gives you a premium that works for your budget, is an important move. While high deductibles can reduce overall premiums, they leave a large liability on your shoulders that could pose a great financial risk if you can’t afford to pay them. 

Reduce contents limits: When your spouse moved out, he or she may have taken some of your joint property with them. The limits on the contents coverage for your home insurance policy likely includes the value of the items that they were awarded during the divorce, so reducing your limits to reflect the value of the items you kept is important. 

Liability limits: If your household income and savings was adversely affected by the divorce then you may want to consider raising the limits of the liability portion of your Oklahoma City home insurance policy or looking into an umbrella policy. With higher limits, you run less risk of having to pay out of pocket for liabilities because their expense exceeds your insurance benefits. 

Search for discounts: As you overhaul your coverage limits and deductibles, it’s a good time to take a look at discounts you may qualify for as well as those you don’t qualify for, but could by making some easy changes. Also, mention to your agent any risk reductions that have occurred since the divorce, such as the relocation of a dog whose breed made your home insurance more expensive. 

It’s important that you start looking out for yourself as soon as possible after a divorce. One of the ways you can do so is by working with your insurance agent to restructure all your insurance policies so that they fit your post-divorce budget, needs and risks, and not your pre-divorce life.

Make sure you have the best possible option for your Oklahoma City homeowners insurance policy with Alexander & Strunk today!