There are various advantages of having a Dedicated IP for your web hosting account, described as following.
As there is a single owner of the Dedicated IP, so the web hostingaccount is free from any possible blacklisting related issues which are found in shared IPs.
One can view his website by entering his Dedicated IP address in address bar of browser.
One can access his accounts through FTP or through web, such requirements arises especially when a domain name is in propagation periods.
Websites having dedicated IPs responds faster despite heavy traffic loads.
One can set up SSL protection on a website which has Dedicated IP.