OUR MOST FREQUENTLY ASKED QUESTIONS
Listed below are the Most Frequently Asked Questions we receive. Click on any question to see the full answer!
What types of policies does P.I.E. offer?
P.I.E. itself offers a Claims-Made Professional Liability Insurance policy with $1 million/$3 million aggregate limits, which is industry standard. As of January 1, 2018, for an additional premium, PIE will offer $2million/$6million aggregate limits as an option to those insured that request these higher limits.
How much is Professional Liability Insurance?
The standard first year rate for P.I.E. insured dentists who do not use any minimal to moderate oral or IV sedation and do not use a hygienist to give local anesthetic is $900.00 if paid on an annual basis. The rate steps up every year and the maximum Class I premium at the fifth year is $1,100.00. If a dentist does IV sedation or oral sedation the rate increases by $200.00. If a dentist obtains the H rider which covers his/her hygienist giving local anesthetics, the rate increase by $50.00. Therefore, the most any P.I.E. insured pays on an annual basis per year is $1,350.00.
If a dentist desires the higher $2 million limit, the premium increases by $250.00 on an annual basis.
P.I.E. offers a significant discount to new graduates. To obtain the new graduate rate call us or send us an e-mail and we will be happy to give you a quote.
How much is Office Liability Insurance, also called a Business Owners or BOP policy?
The answer depends on how much equipment you need to insure and other factors that you can choose. The rate is higher, of course, if you own your space and wish to cover that as well. Premiums range from $750 to $3000 per year with the average annual premium running at $1,500.00. The best answer to this question can be obtained from Berkley Risk at: www.colorado.berkleyrisk.com.
How much is Workers Compensation Insurance?
Again, the answer depends on the size of your payroll, number of employees, etc. Average premiums in Utah range from $200 to $600 per year. You can obtain a more exact quote from Berkley Risk at: www.colorado.berkleyrisk.com.
How much is Disability Insurance?
Again, the answer depends on the type of coverage you wish to obtain as well as the amount of monthly compensation you wish to obtain. You can obtain a quote from Richard Eberting by calling him at 1-800-864-7050.
When should I purchase insurance?
You should have malpractice insurance, workers comp insurance and office liability coverage in place before you see your first patient. If you associate, the main thing you need to be concerned with is your malpractice insurance as the other coverages may be taken care of by the practice owner.
How do I submit a claim?
We request that you call P.I.E. the minute that you determine that a patient is upset or there is a problem. Don’t wait until you get a letter from an attorney! Call us so we can coach you as to the proper way to handle your situation. Many problems can be easily handled and claims avoided by our giving you advice over the telephone. You can e-mail us as well and we can advise you that way. Dr. Engar, a fully licensed dentist, is available full-time to help you with your problem.
When do I renew my policy?
Your renewal date will be the start date of your policy every year. You will receive a billing notice approximately a month before the renewal date. Keep in mind that the premium for a Claims-Made policy increases slightly each year.
How do I update a policy?
Those of you whose last names fall under A-L can call Lisa to have questions or updates such as adding Class II coverage to your policy, etc. Those of you whose last names fall under M-Z can call Maralee. Both Lisa and Maralee are fully licensed agents and can provide quotes and any other help with your policies.
Who can insure with P.I.E.? What if I practice outside of Utah?
Only dentists with Utah licenses practicing in Utah can insure with P.I.E. We do not insure hygienists separately but include them under the dentist’s policy. If a dentist wants hygienists covered to give local anesthetics, they must obtain the H-rider.
To apply for coverage we need a completed application, copy of the Utah Dental license and at least the first quarter’s premium payment. If a dentist moves from another state, we may request a claims history or claims loss run from the prior carrier.
We cannot offer prior acts coverage for any dentistry performed outside the borders of the state of Utah.