Whether you’re turning up the heat or the A/C, you need HVAC contractor insurance.
HVAC contractor insurance for your unique industry.
Your business likely has a home base of operations, but your employees are also traveling to various job sites each day. Visiting the homes and buildings of your customers carries specific risks. For example, what if a customer is hurt or damage is done to their property? A general liability policy may help protect you financially from lawsuits that may arise. In addition, an umbrella liability policy may offer additional coverage limits that go beyond the basic policy.
Coverage for your materials and equipment.
You can’t serve your clients if you do not have the proper materials and equipment. If something happens to these, they can be costly to replace. Because of this, your property insurance policy should provide coverage for the tools and machinery used to perform your services. Also, consider inland marine insurance to help protect items in transit between sites or your headquarters.
Workers’ compensation insurance is a must.
Generally speaking, workers’ compensation insurance is required. Even the most well-trained employees can get hurt on the job, especially in an industry that can have them working on rooftops, in basements, and in multiple locations. For this reason, having coverage appropriate for the HVAC industry and the areas your business serves is essential.
HVAC contractors need business auto insurance.
Because your business requires your employees to travel and haul equipment, you likely have a fleet of vans, trucks, and trailers. Vehicles owned by the company should be covered under a business auto insurance policy if there is an accident. This policy may also cover damage due to vandalism or theft. If employees use their own vehicles for business, you’ll also want to purchase hired and non-owned auto insurance.
What are the risks that HVAC contractors face?
As an HVAC contractor, the primary risk factors are personal injury while on the job, accidental damage to a client’s property, or even a fire caused by mistake. These are liability issues you’ll want to have covered in your insurance policy.
Don’t neglect the business side of your organization.
Employment practice liability insurance (EPLI) may help cover expenses associated with defense against claims of discrimination, harassment, or unlawful termination practices. You’ll want to consider cyber liability insurance that can offer coverage against hackers and data breaches. Professional liability insurance may help pay for an attorney and court fees. On the other hand, it may cover damages that are associated with lawsuits alleging damage to a property due to negligence.
We’re happy to discuss the HVAC contractor insurance needs of your business. Contact us to learn more.