Gold puts the bite on insurance for dentists

Dental surgeries and labs are seeing an increase in burglaries as the price of precious metals soars.

Many keep precious metals like gold on site for dental work and as gold has hit records highs of up to $1,800 an ounce in recent weeks, so thieves have tried to cash in.

Surgeries and labs tend to come under standard office and surgery business insurance – although levels of cover vary widely between providers.

Most policies come with cover for buildings and contents combined with statutory public and employers liability protection.

Precious metals cover for surgeries is often limited to a maximum claim of £2,000, which is precious little for precious metals at current prices.

Employee dishonesty cover – just in case that glittering gold becomes too tempting – is generally an add-on at extra cost.

For labs that service several surgeries or multi-location surgeries, another bolt-on to consider is business travel protection for employees.

Doctors, dentists or vets need to customise insurance for the right protection. The needs of a clinic or surgery are different to those of a shop or office as many surgeries by perform complicated operations and keep valuable stock and equipment on the premises.

Comparing business insurances policies for like-by-like cover is notoriously difficult, especially when buying online.

Read the small print to make sure exceptions and cover are what your business needs and expects.

Legal expenses are not included in a number of policies – but would seem an obvious requirement for many office and surgery businesses.

Cover for employee’s personal effects often have a £1,000 benefit level – but that could be way to low for someone with specialist instruments or tools.

Lock replacement comes as standard on many commercial insurance policies – but watch out for the average £1,000 claim threshold.

Similarly business interruption often has a top claim limit of around £25,000 as well.

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