Association-sponsored Work Comp Programs Are Not Always Your Best Option
During the past 15 years, I have worked with thousands of dentists. Most of them purchased their Workers’ Compensation insurance through their association. Did they do this because the association product offered the lowest rates? Definitely not! Did they do so because they received better claims service, better payment options, lower deposits — perhaps a prettier calendar. No way! They did so because someone from their association told them it was the best thing for their business. In my experience, for most dental practices, this is simply not true.
In some instances, associations do come up with special pricing or group rating, but it may still not be the best thing out there. Usually, it depends on how the group was set up and what the underwriting criteria is. If your association allows anyone belonging to the association access to their program, they will need to come up with a rate that covers all the members. That includes members who have had huge insurance claims. Underwriting, based upon membership in an association only, penalizes those who have clean safety records.
What we did at Van Beurden Insurance, when we set up our Workers’ Compensation dental group, offers dentists with good safety records better rates. That’s right: better rates. It is my belief that business owners who perform better than average should reap the benefits of their efforts. Lower Rates! Why should you have to pay for other business owners’ mistakes?
It is this simple difference in philosophy that makes our Dental Group more attractive to better dentists. Over the years, we have consistently saved our dentist clients 20% to 40% over the so-called “special rates” of their association program.
Is your association program the best insurance solution for you? Probably not, but the only way to find out is to look at your options. We make it easy to see. If you are a dentist and want to know if your association program is the best insurance solution for you, go to our web site, and visit Dental Practice Insurance. There, you can submit answers to a few easy questions and I will provide you with a quote which will show you exactly how un-competitive your current Workers’ Compensation program is.
Thank you for your interest.
Brian Booth
Vice President/Dental Program Manager
Certified Work Comp Advisor
Van Beurden Insurance Services, Inc.
(559) 897-2975 Kingsburg (559) 436-6655 Fresno
(559) 897-4070 Fax
(559) 634-7140 Direct Line Kingsburg
