Dental Insurance
Without the fixed cost structure of NHS dentists, patients can be faced with bills running into hundreds of pounds for private dental work. To help pay for this many people take out dental insurance to cover the cost.
There are three kinds of cover: straightforward insurance, capitalisation schemes which spread the cost of treatment, and cash schemes that include some dental benefits. Each has advantages and disadvantages.
Dental Insurance
Advantages
- generally charged at a flat rate for all patients based on their age and/or health
- provides a straightforward payout if you have a claim
- your dentist may deal direct with your insurer
Disadvantages
- you may not be able to make a claim for the first three to six months
- you may only get around 75% of the claim paid
- many policies also limit the number or value of claims made each year
- if you have an accident that involves substantial reconstruction work, you may find you don’t have enough cover
Capitalisation Schemes
Advantages
- individually priced, based on an examination by your dentist
- the better you look after your teeth, the less your monthly payments you make
- your dental care is pre-paid for the year
Disadvantages
- you are tied to one dentist throughout the year
- you will still pay the same monthly fee, regardless of how much treatment you actually receive
Cash Plan
Advantages
- schemes offer help towards dental costs along with a range of other benefits
- low cost with a choice of tiered benefit levels
Disadvantages
- these schemes will only pay out up to a set maximum per year
- you may have to pay up-front and claim back the cost
- because benefits are spread across a wide range of costs, you will have less dental cover for your money than with straightforward dental insurance
How to get cheaper dental insurance
As with any insurance, the way to get the cheapest cover is to shop around. Internet comparison sites offer a wide selection of policies and prices to help you choose. There is also a selection of dental insurance brokers online. The advantage of using a broker is that they can use their experience to find the cheapest policies that meet your needs – something which is not always that easy when bombarded with options on a comparison site.
Do you need dental insurance?
Of course the best way to insure your teeth is to take good care of them in the first place. Regular brushing and flossing, plus six monthly check ups are by far the most effective way of reducing your dental costs. Smoking also takes a heavy toll on the health of your teeth.
Many people who take care of their teeth prefer to pay-as-they-go, because generally their annual dental costs are less than the price of insurance. Others take the same amount as they would pay for insurance and save it in a high interest account, giving them the cash if they need it and a nice bonus if they don’t. In both cases, however, these patients are taking a gamble.
Even the most effective oral hygiene routine will not protect your teeth if you trip and damage your teeth. Serious injuries like this can run into thousands of pounds and without insurance, you will have to find that money yourself.
Furthermore, it is human nature to avoid paying for things we don’t have to, and so paying in cash for your own dental treatment, instead of claiming on a pre-paid policy, will inevitably lead to less frequent dental visits, which can be counter-productive and actually cost you more in the long run.
So is dental insurance worth it?
As with any kind of insurance, you may never need to make a claim, and as such you may never ‘get your money back’. But on the other hand, what you are really paying for is peace of mind and the knowledge that you are covered no matter what happens, and that can be worth every penny.
